2006 Nebraska Revised Statutes - § 84-221 — Administrative License Revocation Cash Fund; created; use; investment.

Section 84-221
Administrative License Revocation Cash Fund; created; use; investment.
Section 84-221

The Administrative License Revocation Cash Fund is created. The fund shall be maintained by the Department of Justice and administered by the Attorney General. The fund shall consist of any transfers made from the Department of Motor Vehicles Cash Fund as directed by the Legislature and eligible federal cost reimbursements received from the Department of Motor Vehicles. The Administrative License Revocation Cash Fund shall only be used to pay any administrative license revocation costs approved by the Attorney General as authorized by law. 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.

The State Treasurer shall transfer the entire unobligated balance in the Administrative License Revocation Cash Fund as of June 30, 2007, including any investment income credited to the fund, to the Department of Motor Vehicles Cash Fund, as soon as possible on or after July 1, 2007.

Cross References:

Nebraska Capital Expansion Act, see section 72-1269.

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

Source:

Laws 2003, LB 209, § 19

Laws 2006, LB 1061, § 13.

~Revised Statutes Cumulative Supplement, 2006