60-1409 Nebraska Motor Vehicle Industry Licensing Fund; created; collections; disbursements; investment; audited. - Nebraska Statutes

60-1409. Nebraska Motor Vehicle Industry LicensingFund; created; collections; disbursements; investment; audited.The Nebraska Motor Vehicle Industry Licensing Fund is created. All feescollected under theMotor Vehicle Industry Regulation Act shall be remitted by theboard, as collected, to the State Treasurer for credit to the fund. Such fundshall be appropriated by the Legislature for the operations of the NebraskaMotor Vehicle Industry Licensing Board and shall be paid out from time totime by warrants of the Director of Administrative Services on the State Treasurerfor authorized expenditures upon duly itemized vouchers executed as providedby law and approved by the chairperson of the board or the executive secretary,except that transfers from the fund to the General Fund may be made at thedirection of the Legislature through June 30, 2011. The expenses of conductingthe office must always be kept within the income collected and reported tothe State Treasurer by such board. Such office and expense thereof shall notbe supported or paid from the General Fund, and all money deposited in theNebraska Motor Vehicle Industry Licensing Fund shall be expended only forsuch office and expense thereof and, unless determined by the board, it shallnot be required to expend any funds to any person or any other governmentalagency.Any money in the Nebraska Motor Vehicle Industry Licensing Fund availablefor investment shall be invested by the state investment officer pursuantto the Nebraska Capital Expansion Act and the Nebraska State Funds InvestmentAct. The fund shall be audited annually by the Auditor of Public Accounts. SourceLaws 1957, c. 280, § 9, p. 1019; Laws 1969, c. 584, § 60, p. 2382; Laws 1972, LB 1335, § 5; Laws 1974, LB 754, § 8; Laws 1978, LB 248, § 6; Laws 1995, LB 7, § 63; Laws 2002, LB 1310, § 6; Laws 2009, First Spec. Sess., LB3, § 36; Laws 2010, LB816, § 65. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.