2006 Nebraska Revised Statutes - § 84-612 — Cash Reserve Fund; created; transfers; receipt of federal funds.

Section 84-612
Cash Reserve Fund; created; transfers; receipt of federal funds.
Section 84-612

(1) There is hereby created within the state treasury a fund known as the Cash Reserve Fund which shall be under the direction of the State Treasurer. The fund shall only be used pursuant to this section.

(2) The State Treasurer shall transfer funds from the Cash Reserve Fund to the General Fund upon certification by the Director of Administrative Services that the current cash balance in the General Fund is inadequate to meet current obligations. Such certification shall include the dollar amount to be transferred. Any transfers made pursuant to this subsection shall be reversed upon notification by the Director of Administrative Services that sufficient funds are available.

(3) The State Treasurer, at the direction of the budget administrator of the budget division of the Department of Administrative Services, shall transfer such amounts not to exceed seven million seven hundred fifty-three thousand two hundred sixty-three dollars in total from the Cash Reserve Fund to the Nebraska Capital Construction Fund between July 1, 2003, and June 30, 2007.

(4) The State Treasurer, at the direction of the budget administrator, shall transfer an amount equal to the total amount transferred pursuant to subsection (3) of this section from the General Fund to the Cash Reserve Fund on or before June 30, 2008.

(5) In addition to receiving transfers from other funds, the Cash Reserve Fund shall receive federal funds received by the State of Nebraska for undesignated general government purposes, federal revenue sharing, or general fiscal relief of the state.

(6) On June 15, 2007, the State Treasurer shall transfer fifteen million six hundred seventy-four thousand one hundred seven dollars from the Cash Reserve Fund to the General Fund.

(7) On June 15, 2008, the State Treasurer shall transfer seventeen million nine hundred thirty-one thousand thirty dollars from the Cash Reserve Fund to the General Fund.

(8) On June 15, 2009, the State Treasurer shall transfer four million nine hundred ninety thousand five hundred five dollars from the Cash Reserve Fund to the General Fund.

(9) On or before June 16, 2008, the State Treasurer, at the direction of the budget administrator, shall transfer fifty million dollars from the Cash Reserve Fund to the General Fund.

(10) On or before June 16, 2009, the State Treasurer, at the direction of the budget administrator, shall transfer fifty million dollars from the Cash Reserve Fund to the General Fund.

(11) From the effective date of an endowment agreement as defined in subdivision (3)(c) of section 79-1101 until June 30, 2007, forty million dollars of the Cash Reserve Fund shall be deemed to constitute the Early Childhood Education Endowment Fund. Such funds shall remain part of the Cash Reserve Fund for all purposes, except that the interest earned on such forty million dollars shall accrue as provided in section 84-613.

Source:

Laws 1983, LB 59, § 5

Laws 1985, LB 713, § 2

Laws 1985, LB 501, § 2

Laws 1986, LB 739, § 1

Laws 1986, LB 870, § 1

Laws 1987, LB 131, § 1

Laws 1988, LB 1091, § 4

Laws 1989, LB 310, § 1

Laws 1991, LB 857, § 1

Laws 1991, LB 783, § 33

Laws 1992, LB 1268, § 1

Laws 1993, LB 38, § 4

Laws 1994, LB 1045, § 1

Laws 1996, LB 1290, § 6

Laws 1997, LB 401, § 5

Laws 1998, LB 63, § 1

Laws 1998, LB 988, § 1

Laws 1998, LB 1104, § 30

Laws 1998, LB 1134, § 5

Laws 1998, LB 1219, § 23

Laws 1999, LB 881, § 9

Laws 2000, LB 1214, § 2

Laws 2001, LB 541, § 6

Laws 2002, LB 1310, § 20

Laws 2003, LB 790, § 74

Laws 2003, LB 798, § 1

Laws 2004, LB 1090, § 2

Laws 2005, LB 427, § 2

Laws 2006, LB 1131, § 1

Laws 2006, LB 1256, § 9.

~ Revised Statutes Cumulative Supplement, 2006