This bill amends section 85-422 of the Reissue Revised Statutes of Nebraska, focusing on the University of Nebraska's authority to enter into contracts for projects and the ownership of health care facilities. It introduces new provisions requiring legislative approval for any contract by the University to acquire a controlling interest in a hospital or health care facility valued over one hundred million dollars. If the Legislature is not in session, approval can be sought from the Executive Board of the Legislative Council. Additionally, the bill stipulates that hospitals or academic health centers affiliated with the University of Nebraska Medical Center cannot be owned or controlled by for-profit or out-of-state entities unless deemed in the public interest by the Attorney General, in consultation with the Board of Regents.

The bill also includes a repeal of the original section 85-422, indicating a significant update to the legal framework governing the University of Nebraska's contractual and ownership capabilities. The changes aim to enhance oversight and ensure that significant acquisitions align with public interest considerations. The act is designated to take effect immediately upon passage and approval, reflecting the urgency of the proposed changes.

Statutes affected:
Introduced: 85-422