This bill amends the Consumer Protection Act in Nebraska, specifically addressing the recovery of damages and the management of funds related to the act. Key changes include the establishment of a termination date for the State Settlement Cash Fund, which will cease to exist on July 1, 2026. The bill stipulates that any remaining funds in this cash fund on that date will be distributed by the State Treasurer according to specified allocations, including support for legal education, financial literacy, and common schools. Additionally, the bill modifies the provisions regarding the State Settlement Trust Fund, ensuring that it only includes funds held in trust for specific beneficiaries.

The bill also introduces new provisions for the distribution of recoveries received under the act, mandating that starting July 1, 2026, all recoveries will be remitted to the State Treasurer for distribution to various funds, including a significant portion for common schools. The language of the bill clarifies the roles and responsibilities of the Attorney General and the State Treasurer in managing these funds, while also ensuring that the funds are not commingled with other revenues. Overall, the bill aims to enhance financial accountability and oversight in the management of funds related to consumer protection efforts in Nebraska.

Statutes affected:
Introduced: 59-1608.03, 59-1608.04, 59-1608.05