60-1505. Vehicle Title and Registration System Replacement and Maintenance Cash Fund; created; use; investment.
168 words·~1 min read·
/ne/chapter-60/60-1505A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Vehicle Title and Registration System Replacement and Maintenance Cash Fund is hereby created. The fund shall be administered by the Department of Motor Vehicles. Revenue credited to the fund shall include fees collected by the department from participation in any multistate electronic data security program, except as otherwise specifically provided by law, and funds transferred as provided in section 60-3,186 . The fund shall be used by the department to pay for costs associated with the acquisition, implementation, maintenance, support, upgrades, and replacement of the Vehicle Title and Registration System.
Transfers may be made from the fund to the General Fund at the direction of the Legislature. Any money in the Vehicle Title and Registration System Replacement and Maintenance Cash Fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. Beginning October 1, 2024, any investment earnings from investment of money in the fund shall be credited to the General Fund.