LB608 LB608
2023 2023
LEGISLATURE OF NEBRASKA
ONE HUNDRED EIGHTH LEGISLATURE
FIRST SESSION
LEGISLATIVE BILL 608
Introduced by McDonnell, 5.
Read first time January 17, 2023
Committee: Appropriations
1 A BILL FOR AN ACT relating to appropriations; to amend section 84-612,
2 Revised Statutes Cumulative Supplement, 2022; to state legislative
3 intent to transfer and appropriate funds for capital grants; to
4 repeal the original section; and to declare an emergency.
5 Be it enacted by the people of the State of Nebraska,
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1 Section 1. It is the intent of the Legislature to appropriate
2 $90,000,000 from the General Fund for FY2023-24 to the Department of
3 Economic Development, Program 601, for the purpose of providing capital
4 grants to nonprofit organizations. Money should be distributed equally by
5 congressional district and any grant awarded shall be equal to the amount
6 of funds supplied or expended by the nonprofit organization from other
7 sources.
8 Sec. 2. Section 84-612, Revised Statutes Cumulative Supplement,
9 2022, is amended to read:
10 84-612 (1) There is hereby created within the state treasury a fund
11 known as the Cash Reserve Fund which shall be under the direction of the
12 State Treasurer. The fund shall only be used pursuant to this section.
13 (2) The State Treasurer shall transfer funds from the Cash Reserve
14 Fund to the General Fund upon certification by the Director of
15 Administrative Services that the current cash balance in the General Fund
16 is inadequate to meet current obligations. Such certification shall
17 include the dollar amount to be transferred. Any transfers made pursuant
18 to this subsection shall be reversed upon notification by the Director of
19 Administrative Services that sufficient funds are available.
20 (3) In addition to receiving transfers from other funds, the Cash
21 Reserve Fund shall receive federal funds received by the State of
22 Nebraska for undesignated general government purposes, federal revenue
23 sharing, or general fiscal relief of the state.
24 (4) The State Treasurer shall transfer fifty-four million seven
25 hundred thousand dollars on or after July 1, 2019, but before June 15,
26 2021, from the Cash Reserve Fund to the Nebraska Capital Construction
27 Fund on such dates and in such amounts as directed by the budget
28 administrator of the budget division of the Department of Administrative
29 Services.
30 (5) The State Treasurer shall transfer two hundred fifteen million
31 five hundred eighty thousand dollars from the Cash Reserve Fund to the
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1 Nebraska Capital Construction Fund on or after July 1, 2022, but before
2 June 15, 2023, on such dates and in such amounts as directed by the
3 budget administrator of the budget division of the Department of
4 Administrative Services.
5 (6) The State Treasurer shall transfer fifty-three million five
6 hundred thousand dollars from the Cash Reserve Fund to the Perkins County
7 Canal Project Fund on or before June 30, 2023, on such dates and in such
8 amounts as directed by the budget administrator of the budget division of
9 the Department of Administrative Services.
10 (7) No funds shall be transferred from the Cash Reserve Fund to
11 fulfill the obligations created under the Nebraska Property Tax Incentive
12 Act unless the balance in the Cash Reserve Fund after such transfer will
13 be at least equal to five hundred million dollars.
14 (8) The State Treasurer shall transfer thirty million dollars from
15 the Cash Reserve Fund to the Military Base Development and Support Fund
16 on or before June 30, 2023, but not before July 1, 2022, on such dates
17 and in such amounts as directed by the budget administrator of the budget
18 division of the Department of Administrative Services.
19 (9) The State Treasurer shall transfer eight million three hundred
20 thousand dollars from the Cash Reserve Fund to the Trail Development and
21 Maintenance Fund on or after July 1, 2022, but before July 30, 2022, on
22 such dates and in such amounts as directed by the budget administrator of
23 the budget division of the Department of Administrative Services.
24 (10) The State Treasurer shall transfer fifty million dollars from
25 the Cash Reserve Fund to the Nebraska Rural Projects Fund on or after
26 July 1, 2022, but before July 15, 2023, on such dates and in such amounts
27 as directed by the budget administrator of the budget division of the
28 Department of Administrative Services.
29 (11) The State Treasurer shall transfer thirty million dollars from
30 the Cash Reserve Fund to the Rural Workforce Housing Investment Fund on
31 or after July 1, 2022, but before July 15, 2023, on such dates and in
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1 such amounts as directed by the budget administrator of the budget
2 division of the Department of Administrative Services.
3 (12) The State Treasurer shall transfer twenty million dollars from
4 the Cash Reserve Fund to the Intern Nebraska Cash Fund on or after July
5 1, 2022, but before June 15, 2023, on such dates and in such amounts as
6 directed by the budget administrator of the budget division of the
7 Department of Administrative Services.
8 (13) The State Treasurer shall transfer twenty million dollars from
9 the Cash Reserve Fund to the Middle Income Workforce Housing Investment
10 Fund on July 15, 2022, or as soon thereafter as administratively
11 possible, and in such amounts as directed by the budget administrator of
12 the budget division of the Department of Administrative Services.
13 (14) The State Treasurer shall transfer eighty million dollars from
14 the Cash Reserve Fund to the Jobs and Economic Development Initiative
15 Fund on or after July 1, 2022, but before July 15, 2023, on such dates
16 and in such amounts as directed by the budget administrator of the budget
17 division of the Department of Administrative Services.
18 (15) The State Treasurer shall transfer twenty million dollars from
19 the Cash Reserve Fund to the Site and Building Development Fund on July
20 15, 2022, or as soon thereafter as administratively possible, and in such
21 amounts as directed by the budget administrator of the budget division of
22 the Department of Administrative Services.
23 (16) The State Treasurer shall transfer fifty million dollars from
24 the Cash Reserve Fund to the Surface Water Irrigation Infrastructure Fund
25 on or after July 15, 2022, but before January 1, 2023, on such dates and
26 in such amounts as directed by the budget administrator of the budget
27 division of the Department of Administrative Services.
28 (17) The State Treasurer shall transfer fifteen million dollars from
29 the Cash Reserve Fund to the Site and Building Development Fund on or
30 before June 30, 2022, on such dates and in such amounts as directed by
31 the budget administrator of the budget division of the Department of
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1 Administrative Services.
2 (18) The State Treasurer shall transfer fifty-five million dollars
3 from the Cash Reserve Fund to the Economic Recovery Contingency Fund on
4 or before June 30, 2022, on such dates and in such amounts as directed by
5 the budget administrator of the budget division of the Department of
6 Administrative Services.
7 (19) The State Treasurer shall transfer ninety million dollars from
8 the Cash Reserve Fund to the General Fund as soon as administratively
9 possible after the effective date of this act, on such dates and in such
10 amounts as directed by the budget administrator of the budget division of
11 the Department of Administrative Services.
12 Sec. 3. Original section 84-612, Revised Statutes Cumulative
13 Supplement, 2022, is repealed.
14 Sec. 4. Since an emergency exists, this act takes effect when
15 passed and approved according to law.
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Statutes affected:
Introduced: 84-612