71-7607 Nebraska Medicaid Intergovernmental Trust Fund; created; use; investment. - Nebraska Statutes

71-7607. Nebraska Medicaid Intergovernmental Trust Fund; created; use; investment.(1) The Nebraska Medicaid Intergovernmental Trust Fund is created. The fund shall include revenue received from governmental nursing facilities receiving payments for nursing facility services under the medical assistance program established pursuant to the Medical Assistance Act. The Department of Health and Human Services shall remit such revenue to the State Treasurer for credit to the fund. The department shall adopt and promulgate rules and regulations to establish procedures for participation by governmental nursing facilities and for the receipt of such revenue under this section. Money from the Nebraska Medicaid Intergovernmental Trust Fund shall be transferred to the Nebraska Health Care Cash Fund as provided in section 71-7611.(2) The department may use revenue in the Nebraska Medicaid Intergovernmental Trust Fund to offset any unanticipated reductions in medicaid funds received under this section.(3) Any money in the Nebraska Medicaid Intergovernmental Trust 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. SourceLaws 1998, LB 1070, § 3; Laws 2000, LB 1427, § 5; Laws 2001, LB 541, § 4; Laws 2001, LB 692, § 15; Laws 2001, Spec. Sess., LB 3, § 3; Laws 2003, LB 412, § 5; Laws 2004, LB 1091, § 5; Laws 2006, LB 1061, § 10; Laws 2006, LB 1248, § 79; Laws 2007, LB296, § 677. Cross ReferencesMedical Assistance Act, see section 68-901.Nebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.