Cash Reserve Fund; created; transfers; receipt of federal funds.

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  2. Nebraska Revised Statutes
  3. State Officers
  4. Cash Reserve Fund; created; transfers; receipt of federal funds.

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84-612. Cash Reserve Fund; created; transfers; receipt of federal funds.

(1) There is hereby created within the state treasury a fund known as the Cash Reserve Fund which shall be under the direction of the State Treasurer. The fund shall only be used pursuant to this section.

(2) The State Treasurer shall transfer funds from the Cash Reserve Fund to the General Fund upon certification by the Director of Administrative Services that the current cash balance in the General Fund is inadequate to meet current obligations. Such certification shall include the dollar amount to be transferred. Any transfers made pursuant to this subsection shall be reversed upon notification by the Director of Administrative Services that sufficient funds are available.

(3) In addition to receiving transfers from other funds, the Cash Reserve Fund shall receive federal funds received by the State of Nebraska for undesignated general government purposes, federal revenue sharing, or general fiscal relief of the state.

(4) The State Treasurer shall transfer fifty-four million seven hundred thousand dollars on or after July 1, 2019, but before June 15, 2021, from the Cash Reserve Fund to the Nebraska Capital Construction Fund on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services.

(5) The State Treasurer shall transfer thirty million dollars from the Cash Reserve Fund to the General Fund after November 15, 2020, but before December 31, 2020, on such date as directed by the budget administrator of the budget division of the Department of Administrative Services. Except for the transfer authorized in this subsection, no funds shall be transferred from the Cash Reserve Fund to fulfill the obligations created under the Nebraska Property Tax Incentive Act unless the balance in the Cash Reserve Fund after such transfer will be at least equal to five hundred million dollars.

(6) The State Treasurer shall transfer fifty million dollars from the Cash Reserve Fund to the United States Space Command Headquarters Assistance Fund on or before June 30, 2023, but not before July 1, 2022, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The transfer in this subsection shall not occur unless the State of Nebraska is selected as the site of the United States Space Command headquarters.

Source

  • Laws 1983, LB 59, § 5;
  • Laws 1985, LB 713, § 2;
  • Laws 1985, LB 501, § 2;
  • Laws 1986, LB 739, § 1;
  • Laws 1986, LB 870, § 1;
  • Laws 1987, LB 131, § 1;
  • Laws 1988, LB 1091, § 4;
  • Laws 1989, LB 310, § 1;
  • Laws 1991, LB 857, § 1;
  • Laws 1991, LB 783, § 33;
  • Laws 1992, LB 1268, § 1;
  • Laws 1993, LB 38, § 4;
  • Laws 1994, LB 1045, § 1;
  • Laws 1996, LB 1290, § 6;
  • Laws 1997, LB 401, § 5;
  • Laws 1998, LB 63, § 1;
  • Laws 1998, LB 988, § 1;
  • Laws 1998, LB 1104, § 30;
  • Laws 1998, LB 1134, § 5;
  • Laws 1998, LB 1219, § 23;
  • Laws 1999, LB 881, § 9;
  • Laws 2000, LB 1214, § 2;
  • Laws 2001, LB 541, § 6;
  • Laws 2002, LB 1310, § 20;
  • Laws 2003, LB 790, § 74;
  • Laws 2003, LB 798, § 1;
  • Laws 2004, LB 1090, § 2;
  • Laws 2005, LB 427, § 2;
  • Laws 2006, LB 1131, § 1;
  • Laws 2006, LB 1256, § 9;
  • Laws 2007, LB323, § 3;
  • Laws 2008, LB846, § 21;
  • Laws 2008, LB1094, § 8;
  • Laws 2008, LB1116, § 9;
  • Laws 2008, LB1165, § 2;
  • Laws 2009, LB456, § 3;
  • Laws 2009, First Spec. Sess., LB2, § 7;
  • Laws 2010, LB317, § 1;
  • Laws 2011, LB379, § 2;
  • Laws 2012, LB131, § 1;
  • Laws 2013, LB200, § 1;
  • Laws 2014, LB130, § 2;
  • Laws 2014, LB1016, § 3;
  • Laws 2015, LB662, § 1;
  • Laws 2016, LB957, § 13;
  • Laws 2016, LB960, § 31;
  • Laws 2017, LB332, § 1;
  • Laws 2018, LB946, § 1;
  • Laws 2019, LB299, § 1;
  • Laws 2020, LB1107, § 141;
  • Laws 2020, LB1198, § 2;
  • Laws 2021, LB385, § 1;
  • Laws 2021, LB509, § 22.
  • Note: The Revisor of Statutes has pursuant to section 49-769 correlated LB385, section 1, with LB509, section 22, to reflect all amendments.
  • Note: Changes made by LB385 became effective April 27, 2021. Changes made by LB509 became effective August 28, 2021.

Cross References

  • Nebraska Property Tax Incentive Act, see section 77-6701.


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