(1) The Economic Recovery Special Committee of the Legislature is established as a special committee of the Legislature to perform the duties provided in the Economic Recovery Act. The special legislative committee shall consist of the chairperson of the Urban Affairs Committee of the Legislature, who shall serve as chairperson of the special legislative committee, the Speaker of the Legislature, the chairperson of the Appropriations Committee of the Legislature or his or her designee, and four other members of the Legislature appointed by the chairperson of the Executive Board of the Legislative Council. The appointed members of the special legislative committee shall include members who represent legislative districts containing one or more qualified census tracts located within the boundaries of a city of the metropolitan class.

(2) The Executive Board of the Legislative Council shall provide staff as required by the special legislative committee from existing legislative staff. In addition, the special legislative committee may hire additional staff, make expenditures for travel, and enter into contracts for consulting, engineering, and development studies. The contracts shall be based on competitive bids and subject to approval of the executive board upon the recommendation of a majority of the members of the special legislative committee. It is the intent of the Legislature to appropriate two million dollars for fiscal year 2022-23 to carry out this section.

(3) The special legislative committee may hold hearings and request and receive reports from the federal government, state agencies, counties, municipalities, and other public and private entities regarding the impact of the COVID-19 public health emergency on low-income and minority communities in Nebraska. The special legislative committee may hold one or more closed sessions for the receipt of confidential information if at least one-half of the members of the special legislative committee vote in open session to hold a closed session.

(4) No later than June 30, 2022, the special legislative committee shall issue a request for proposals for studies on potential eligible uses of funds made available under the federal American Rescue Plan Act of 2021 or state funds within or adjacent to qualified census tracts located within the boundaries of a city of the metropolitan class. Such studies shall include, but not be limited to, potential eligible uses of such funds in the areas of entrepreneurship, housing, employment, job creation, and small business assistance. Copies of all such studies received by the special legislative committee shall be forwarded to the Economic Recovery and Incentives Division of the Department of Economic Development.