72-1001. Nebraska Capital Construction Fund; created; use; investment.
222 words·~1 min read·
/ne/chapter-72/72-1001A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Nebraska Capital Construction Fund is created. The fund shall consist of revenue and transfers credited to the fund as authorized by law. Money shall be appropriated from the fund to state agencies for making payments on projects as determined by the Legislature, including, but not limited to, purchases of land, structural improvements to land, acquisition of buildings, construction of buildings, including architectural and engineering costs, replacement of or major repairs to structural improvements to land or buildings, additions to existing structures, remodeling of buildings, and acquisition of equipment and furnishings of new or remodeled buildings.
The fund shall be administered by the State Treasurer as a multiple-agency-use fund and appropriated to state agencies as determined by the Legislature. Transfers may be made from the fund to the Capitol Restoration Cash Fund at the direction of the Legislature. Any money in the Nebraska Capital Construction 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 July 1, 2025, through June 30, 2027, any investment earnings from investment of money in the Nebraska Capital Construction Fund shall be credited to the General Fund. Beginning July 1, 2027, any investment earnings from investment of money in the Nebraska Capital Construction Fund shall be credited to the fund.