2006 Nebraska Revised Statutes - § 79-8,136 — Attracting Excellence to Teaching Program Cash Fund; created; use; investment.

Section 79-8,136
Attracting Excellence to Teaching Program Cash Fund; created; use; investment.

The Attracting Excellence to Teaching Program Cash Fund is created. The fund shall consist of appropriations by the Legislature, transfers pursuant to section 9-812, and loan repayments, penalties, and interest payments received in the course of administering the Attracting Excellence to Teaching Program. The department shall allocate on an annual basis the funds to be distributed for the program to all eligible institutions according to the distribution formula as determined by rule and regulation, except that the State Treasurer shall transfer the cash balance existing on November 9, 2001, in the fund to the General Fund within five days after November 9, 2001. The eligible institutions shall act as agents of the department in the distribution of the funds to eligible students. Any money in the Attracting Excellence to Teaching Program 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.

Source:

Laws 2000, LB 1399, § 19

Laws 2001, Spec. Sess., LB 3, § 6

Cross References:

Nebraska Capital Expansion Act,see section 72-1269.

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

~Reissue Revised Statutes of Nebraska