2006 Nebraska Revised Statutes - § 71-7609 — Nursing Facility Conversion Cash Fund; created; use; investment.

Section 71-7609
Nursing Facility Conversion Cash Fund; created; use; investment.

The Nursing Facility Conversion Cash Fund is created. The fund shall be used for grants or loan guarantees made by the Department of Health and Human Services Finance and Support prior to January 1, 2002, to nursing facilities for capital or one-time expenditures to convert all or a portion of such facilities to licensed assisted-living facilities or other alternatives to nursing facility care after deducting expenses incurred in the administration of such grants or loan guarantees. On or before July 15, 2003, the State Treasurer shall transfer any unobligated balance in the fund to the Nebraska Health Care Cash Fund. Any money in the Nursing Facility Conversion 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. This section is revived to extend the existence of the fund for the payment of grants or loan guarantees made by the department prior to January 1, 2002, and to direct the transfer of the unobligated balance in such fund.

Source:

Laws 1998, LB 1070, § 5

Laws 2000, LB 1427, § 7

Laws 2001, LB 692, § 17

Laws 2001, Spec. Sess., LB 3, § 4

Laws 2003, LB 412, § 7

Cross References:

Nebraska Capital Expansion Act,see section 72-1269.

Nebraska State Funds Investment Act,see section 72-1260.

~Reissue Revised Statutes of Nebraska