70-1020 Board; expenses; assessments levied against suppliers; apportionment; collection; interest; Nebraska Power Review Fund; created; investment. - Nebraska Statutes

70-1020. Board; expenses;assessments levied against suppliers; apportionment; collection; interest;Nebraska Power Review Fund; created; investment.Inorder to defray the expenses of the Nebraska Power Review Board, there shallbe imposed upon each public power district, public power and irrigation district,electric membership association, electric cooperative company, and municipalityhaving an electric distribution system or generation and distribution system,and also upon all registered groups of municipalities, an assessment eachfiscal year in such sum as shall be determined by the board and approved bythe Governor. The total of such assessments shall not exceed the expensesof the board which may reasonably be anticipated for the fiscal year for whichassessment is made and shall be apportioned among the various agencies inproportion to their gross income in the preceding calendar year. The boardshall determine and certify such assessment to each supplier after approvalof the board's budget by the Legislature and Governor. The supplier shallremit the amount of its assessment to the board within forty-five days afterthe mailing of the assessment. Any assessment not paid when due shall drawinterest at a rate equal to the rate of interest allowed per annum under section 45-104.02, as such rate may from time to time be adjusted. The proceeds ofsuch assessment shall be remitted to the State Treasurer for credit to theNebraska Power Review Fund, which fund is hereby created and which, when appropriatedby the Legislature, shall be used to administer the powers granted to theNebraska Power Review Board,except that transfers may be made from the fund to the General Fund at thedirection of the Legislature. Any money in the NebraskaPower Review Fund available for investment shall be invested bythe state investment officer pursuant to the Nebraska Capital Expansion Actand the Nebraska State Funds Investment Act. SourceLaws 1963, c. 397, § 20, p. 1266; Laws 1965, c. 407, § 1, p. 1307; Laws 1969, c. 584, § 65, p. 2385; Laws 1981, LB 181, § 55; Laws 1984, LB 730, § 1; Laws 1992, Fourth Spec. Sess., LB 1, § 10; Laws 1994, LB 1066, § 64; Laws 2009, First Spec. Sess., LB3, § 43.Effective Date: November 21, 2009 Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.