2009 Nebraska Code
Chapter 66 OILS, FUELS, AND ENERGY
66-1015 Energy Conservation Improvement Fund; created; investment; department; duties.

66-1015. Energy Conservation Improvement Fund; created; investment; department; duties.

(1) The Energy Conservation Improvement Fund is created. There shall be a separate subaccount within the fund for each eligible entity remitting matching funds and administering a program of eligible energy conservation improvements. The fund shall be administered by the department. Funds shall be remitted by the department to the State Treasurer for deposit in the proper subaccount of the fund from state sales taxes and matching funds remitted by the eligible entity as provided in subsection (2) of this section.

(2) Commencing July 1, 2009, any eligible entity may designate state sales taxes collected from customers for deposit in the subaccount of the fund for that eligible entity. Any such designation shall be accompanied by an equal amount of matching funds from the eligible entity. The total amount designated in any calendar year shall not exceed five percent of the total state sales tax collected in the prior calendar year.

(3) The department shall adopt a form to (a) designate part of the state sales tax to be remitted for administering a program of eligible energy conservation improvements and (b) remit the matching funds.

(4) 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.

Source

Laws 2008, LB1001, § 4.
Operative Date: January 1, 2009

Cross References

Nebraska Capital Expansion Act, see section 72-1269.
Nebraska State Funds Investment Act, see section 72-1260.