2019 Nebraska Revised Statutes
Chapter 85 - STATE UNIVERSITY, STATE COLLEGES, AND POSTSECONDARY EDUCATION
85-2803 Meadowlark Endowment Fund; established; investment.
85-2803. Meadowlark Endowment Fund; established; investment.
(1) There is hereby established in the state treasury a trust fund to be known as the Meadowlark Endowment Fund. The fund shall be administered by the State Treasurer and shall consist of qualified private contributions and any amounts appropriated or transferred to the fund by the Legislature. No General Funds shall be transferred to the Meadowlark Endowment Fund. 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. No portion of the principal of the fund shall be expended for any purpose except investment pursuant to this subsection.
(2) The State Treasurer shall accept qualified private contributions and shall credit all such contributions received to the Meadowlark Endowment Fund. The State Treasurer shall determine the total amount of qualified private contributions received under this subsection and shall transfer an equal amount from the College Savings Plan Expense Fund or the Unclaimed Property Escheat Trust Fund, as determined by the State Treasurer, to the Meadowlark Endowment Fund.
Source
- Laws 2019, LB610, ยง 3.
- Effective Date: September 1, 2019
Cross References
- Nebraska Capital Expansion Act, see section 72-1269.
- Nebraska State Funds Investment Act, see section 72-1260.
