71-8612 Commission for the Blind and Visually Impaired Cash Fund; created; use; investment. - Nebraska Statutes

71-8612. Commissionfor the Blind and Visually Impaired Cash Fund; created; use; investment.The Commission for the Blind and Visually Impaired Cash Fundis created. The fund shall contain money received pursuant to the Commissionfor the Blind and Visually Impaired Act and shall include a percentage ofthe net proceeds derived from the operation of vending facilities. The netproceeds from the operation of vending facilities shall accrue to the blindvending facility operator, except for the percentage of the net proceeds thatshall revert to the cash fund. Such fund shall be used for supervision andother administrative purposes as necessary,except that transfers may be made from the fund to the General Fund at thedirection of the Legislature. The commission, in consultationwith the Committee of Blind Vendors, shall determine the percentage of thenet proceeds that reverts to the Commission for the Blind and VisuallyImpaired Cash Fund after an investigation to reveal the grossproceeds, cost of operation, amount necessary to replenish the stock of merchandise,and the business needs of the blind vending facility operator. All equipmentpurchased from the fund is the property of the state and shall be disposedof only by sale at a fair market price. Any money in the fund available forinvestment shall be invested by the state investment officer pursuant to theNebraska Capital Expansion Act and the Nebraska State Funds Investment Act. SourceLaws 1947, c. 343, § 1, p. 1085; Laws 1949, c. 292, § 1, p. 996; Laws 1957, c. 386, § 1, p. 1343; Laws 1961, c. 442, § 1, p. 1362; Laws 1965, c. 561, § 1, p. 1845; Laws 1969, c. 584, § 113, p. 2418; Laws 1971, LB 334, § 6; Laws 1976, LB 674, § 1; Laws 1995, LB 7, § 142; R.S.1943, (1999), § 83-210.01; Laws 2000, LB 352, § 12; Laws 2005, LB 55, § 2; Laws 2009, First Spec. Sess., LB3, § 48.Effective Date: November 21, 2009 Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.