LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts on Thursday praised a new state law that will help lower property tax bills, offer tax incentives to businesses that create new jobs and possibly spur the creation of a major disaster-training facility in Omaha.

Ricketts held a ceremonial bill-signing outside the Capitol after officially approving the new law on Monday.

Lawmakers passed the measure as a compromise in the final days of this year's legislative session. Under the new law, homeowners will get a state income tax credit based on the amount of local property taxes they pay to their public schools.

It also offers new tax credits to replace the state's biggest business incentive program, the Nebraska Advantage Act, which expires this year. The law will also commit $300 million to a major disaster training facility in Omaha, but only if the federal government and private donors make specific funding commitments for the $2.6 billion project.