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2009 Nebraska Code
Chapter 81 STATE ADMINISTRATIVE DEPARTMENTS
81-1801.02 Community Trust; authorized; powers and duties; create separate funds; distribution committee.

81-1801.02. Community Trust; authorized; powers and duties; create separate funds; distribution committee.

(1) A nonprofit organization, to be known as the Community Trust, may be created. After a tragedy, the Community Trust shall accept contributions from the public, manage such funds, and make distributions to help individuals, families, and communities in Nebraska who have suffered from a tragedy of violence or natural disaster. The committee shall oversee the Community Trust. The committee shall require at least annual reports from the Community Trust.

(2) The Community Trust shall be a qualified organization under section 501(c)(3) of the Internal Revenue Code thereby enabling contributions to the Community Trust to be tax deductible for the donor if the donor itemizes deductions for income tax purposes and distributions to be tax-free to the extent allowed under applicable sections of the Internal Revenue Code. The Community Trust shall create a separate fund for each tragedy and shall begin accepting contributions immediately after a tragedy. A report of distributions shall be made within two weeks after the distribution, and contributions shall be acknowledged within two weeks after receipt.

(3) The procedures for applications, hearings, and compensation orders for victims shall follow the procedures in the Nebraska Crime Victim's Reparations Act, as applicable, unless the board of directors of the Community Trust creates an alternative procedure. In any alternative procedure, the Community Trust shall establish a distribution committee for the tragedy within one week after the tragedy, establish eligible recipient criteria and eligible uses of the fund, begin initial distribution of the fund within three weeks after the tragedy, make subsequent distributions within three months after the tragedy, and complete all distributions within six months after the tragedy.

Source
    Laws 2009, LB598, ยง 1.



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