75-911. Grain Dealer and Grain Warehouse Cash Fund; created; use; investment.
200 words·~1 min read·
/ne/chapter-75/75-911A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Grain Dealer and Grain Warehouse Cash Fund is created. The fund shall be administered by the commission. The fund shall consist of money credited to the fund pursuant to sections 75-903 and 88-529 and, unless otherwise provided, all fees received by the commission pursuant to the Grain Dealer Act or the Grain Warehouse Act. It is the intent of the Legislature to appropriate all money in the fund to the commission for the purpose of defraying the expenses of administering the Grain Dealer Act and the Grain Warehouse Act.
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. All money derived from investment earnings of money in the fund shall be credited to the Grain Dealer and Grain Warehouse Cash Fund. Money in the fund shall not be transferred to the General Fund or any other legislatively created fund. It is the intent of the Legislature that the revenue generated by the license fees established by the commission shall not exceed twenty-five percent of the commission costs to implement the Grain Dealer Act and the Grain Warehouse Act.