77-5031 Tax Equalization and Review Commission Cash Fund; created; use; investment. - Nebraska Statutes

77-5031. Tax Equalizationand Review Commission Cash Fund; created; use; investment.The Tax Equalization and Review Commission Cash Fund is herebycreated. All money received by the commission for appeals and services performedand billed to other agencies or persons shall be credited to the fund. Thecommission shall only bill for the actual amount expended in performing services.The fund shall be used to carry out the provisions of the Tax Equalizationand Review Commission Act,except that transfers may be made from the fund to the General Fund at thedirection of the Legislature. Expenditures from the Tax Equalization and Review Commission Cash Fund shallbe made only when such funds are available. Any unexpended balance in thefund at the end of each fiscal year shall not lapse to the General Fund. Anymoney in the Tax Equalization and Review Commission Cash 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 1997, LB 270, § 101; Laws 2009, First Spec. Sess., LB3, § 57.Effective Date: November 21, 2009 Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.