66-1334. Agricultural Alcohol Fuel Tax Fund; created; use; investment.
368 words·~2 min read·
/ne/chapter-66/66-1334A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The Agricultural Alcohol Fuel Tax Fund is hereby created. The fund shall be administered by the board. The fund shall contain
(a)money credited pursuant to section 66-489 ,
(b)all sums of money received from fees resulting from any conference or event held by the board,
(c)gifts, grants, and contributions made by public or private entities, and
(d)transfers as authorized by the Legislature. Any money in the 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.
(2)The fund shall be used for the following purposes:
(a)Establishment, in collaboration with industry, of procedures and processes necessary to the manufacture and marketing of ethanol, ethanol coproducts, and products derived from ethanol or ethanol coproducts;
(b)Establishment and enhancement of procedures for entering blended fuel into the marketplace;
(c)Implementation of marketing and education procedures and programs to increase acceptance and awareness of ethanol, ethanol coproducts, and products derived from ethanol or ethanol coproducts;
(d)Collaboration with industry to establish ethanol or agricultural production facilities in Nebraska to supply demand for ethanol, ethanol coproducts, and products derived from ethanol or ethanol coproducts;
(e)Sponsoring research and development of industrial and commercial uses for ethanol, ethanol coproducts, and products derived from ethanol or ethanol coproducts;
(f)Promotion of state and national air quality improvement programs and influencing federal legislation that requires or encourages the use of fuels oxygenated by the inclusion of ethanol or fuels derived from ethanol;
(g)Promotion of the use of ethanol and fuels derived from ethanol as a partial replacement for imported oil and for the energy and economic security of the nation;
(h)Participation in development and passage of state and national legislation dealing with research, development, and promotion of United States production of fuels oxygenated by the inclusion of ethanol or its derivatives, access to potential markets, tax incentives, imports of foreign-produced fuel, and related concerns that may develop in the future; and
(i)As the board may otherwise direct to fulfill the goals set forth under the Ethanol Development Act, including monitoring contracts for ethanol program commitments and solicitation of federal funds.