This legislative bill amends various sections of the Nebraska Revised Statutes, primarily focusing on the management and allocation of state funds. A significant change is the removal of provisions that allowed for transfers from specific funds to the General Fund at the direction of the Legislature. This applies to multiple funds, including the Certified Public Accountants Fund, the Nebraska Soil and Water Conservation Fund, and the Nebraska Resources Development Fund, among others. The bill emphasizes that any money in these funds available for investment shall be managed by the state investment officer in accordance with the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act, ensuring that these funds are utilized effectively for their intended purposes without the possibility of being redirected to the General Fund.

Additionally, the bill establishes new funds, such as the Charitable Gaming Operations Fund and the Racetrack Gaming Fund, which will be used for specific administrative purposes and will also prohibit transfers to the General Fund. It mandates the Department of Revenue to provide annual reports on tax revenue and expenses related to tax administration, and it outlines the distribution of funds to areas with high poverty concentrations, emphasizing community involvement in project selection. The bill aims to enhance the financial management and accountability of these funds while promoting economic growth and ensuring that resources are allocated effectively to support specific programs and services.

Statutes affected:
Introduced: 1-111, 2-1503.01, 2-1577, 2-1587, 2-5106, 8-604, 8-1120, 9-1107, 13-2610, 28-429, 29-3921, 37-351, 38-157, 44-116, 46-1121, 46-1403, 47-632, 49-708, 50-114.05, 50-437, 50-501, 53-117.06, 54-857, 54-2428, 55-131, 59-1608.04, 60-1409, 60-1505, 60-1513, 61-210, 61-224, 66-739, 66-1521, 66-1842, 69-1317, 70-1020, 71-222.02, 71-4732, 71-5328, 71-5661, 71-8612, 72-816, 72-2211, 75-159, 75-1101, 76-549, 76-3219, 77-1342, 77-2911, 77-4025, 77-4310.03, 77-5031, 77-5601, 79-1064, 81-179, 81-201.05, 81-302, 81-406, 81-407, 81-528, 81-530, 81-829.33, 81-1201.21, 81-1201.22, 81-1211, 81-1213.02, 81-1216, 81-1413.01, 81-1428, 81-1558, 81-1607.01, 81-2004.01, 81-2004.07, 81-2004.08, 81-2105, 81-3119, 81-3432, 81-3524, 81-3714, 82-108.02, 82-139, 83-913.01, 84-409, 84-414, 84-618, 84-1227, 85-1419, 88-545.01, 88-552