This bill amends sections 69-1317 and 72-2211 of the Revised Statutes Cumulative Supplement, 2024, to modify the management and distribution of funds from the Unclaimed Property Trust Fund. Key changes include the authorization for the State Treasurer to transfer funds to the Capitol Restoration Cash Fund, with specific provisions for the distribution of excess balances. Starting in 2025, the first one million dollars from the Unclaimed Property Trust Fund will be allocated to the Capitol Restoration Cash Fund, with any remaining balance directed to the permanent school fund. Additionally, the bill establishes the Unclaimed Property Cash Fund to cover costs related to unclaimed property before deposits are made to the permanent school fund, Capitol Restoration Cash Fund, or General Fund.

The bill also creates the Capitol Restoration Cash Fund, which will consist of various revenue sources, including transfers from the Unclaimed Property Trust Fund as directed by the Legislature. The fund is designated for projects related to the restoration and enhancement of the State Capitol and its grounds, as well as for promotional materials. The bill ensures that any money in the Capitol Restoration Cash Fund available for investment will be managed according to existing investment laws. The original sections of the statutes being amended are repealed as part of this legislative update.

Statutes affected:
Introduced: 69-1317, 72-2211