2017 Nebraska Revised Statutes
Chapter 57 - MINERALS, OIL, AND GAS
57-705 Tax; remittance; Severance Tax Fund; Severance Tax Administration Fund; created; use.

Universal Citation: NE Code § 57-705 (2017)

57-705.

Tax; remittance; Severance Tax Fund; Severance Tax Administration Fund; created; use.

(1) All severance taxes levied by Chapter 57, article 7, shall be paid to the Tax Commissioner. He or she shall remit all such money received to the State Treasurer. All such money received by the State Treasurer shall be credited to a fund to be known as the Severance Tax Fund. An amount equal to one percent of the gross severance tax receipts, excluding those receipts from tax derived from oil and natural gas severed from school lands, credited to the fund shall be credited by the State Treasurer, upon the first day of each month, and shall inure to the Severance Tax Administration Fund to be used for the expenses of administering Chapter 57, article 7. Transfers may be made from the Severance Tax Administration Fund to the General Fund at the direction of the Legislature. The balance of the Severance Tax Fund received from school lands shall be credited by the State Treasurer, upon the first day of each month, and shall inure to the permanent school fund.

(2) Of the balance of the Severance Tax Fund received from other than school lands (a) the Legislature may transfer an amount to be determined by the Legislature through the appropriations process up to three hundred thousand dollars for each year to the State Energy Office Cash Fund, (b) the Legislature may transfer an amount to be determined by the Legislature through the appropriations process up to thirty thousand dollars for each year to the Public Service Commission for administration of the Municipal Rate Negotiations Revolving Loan Fund, and (c) the remainder shall be credited and inure to the permanent school fund.

(3) The State Treasurer shall transfer two hundred fifty thousand dollars from the Severance Tax Administration Fund to the Department of Revenue Enforcement Fund on July 1, 2009, or as soon thereafter as administratively possible. The State Treasurer shall transfer two hundred fifty thousand dollars from the Severance Tax Administration Fund to the Department of Revenue Enforcement Fund on July 1, 2010, or as soon thereafter as administratively possible.

Source

  • Laws 1955, c. 219, § 5, p. 612;
  • Laws 1959, c. 261, § 1, p. 899;
  • Laws 1967, c. 351, § 3, p. 933;
  • Laws 1981, LB 257, § 2;
  • Laws 1982, LB 799, § 1;
  • Laws 1983, LB 228, § 4;
  • Laws 1983, LB 607, § 2;
  • Laws 1985, LB 126, § 1;
  • Laws 1986, LB 258, § 10;
  • Laws 1989, LB 727, § 2;
  • Laws 1993, LB 5, § 2;
  • Laws 1993, LB 364, § 20;
  • Laws 1993, LB 670, § 1;
  • Laws 2000, LB 1369, § 1;
  • Laws 2003, LB 790, § 58;
  • Laws 2009, LB316, § 15;
  • Laws 2009, First Spec. Sess., LB3, § 32.

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