LB587 LB587
2019 2019
LEGISLATURE OF NEBRASKA
ONE HUNDRED SIXTH LEGISLATURE
FIRST SESSION
LEGISLATIVE BILL 587
Introduced by Stinner, 48.
Read first time January 22, 2019
Committee: Appropriations
1 A BILL FOR AN ACT relating to the Cash Reserve Fund; to amend section
2 84-612, Revised Statutes Cumulative Supplement, 2018; to provide for
3 transfers; to repeal the original section; and to declare an
4 emergency.
5 Be it enacted by the people of the State of Nebraska,
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1 Section 1. Section 84-612, Revised Statutes Cumulative Supplement,
2 2018, is amended to read:
3 84-612 (1) There is hereby created within the state treasury a fund
4 known as the Cash Reserve Fund which shall be under the direction of the
5 State Treasurer. The fund shall only be used pursuant to this section.
6 (2) The State Treasurer shall transfer funds from the Cash Reserve
7 Fund to the General Fund upon certification by the Director of
8 Administrative Services that the current cash balance in the General Fund
9 is inadequate to meet current obligations. Such certification shall
10 include the dollar amount to be transferred. Any transfers made pursuant
11 to this subsection shall be reversed upon notification by the Director of
12 Administrative Services that sufficient funds are available.
13 (3) In addition to receiving transfers from other funds, the Cash
14 Reserve Fund shall receive federal funds received by the State of
15 Nebraska for undesignated general government purposes, federal revenue
16 sharing, or general fiscal relief of the state.
17 (4) The State Treasurer, at the direction of the budget
18 administrator of the budget division of the Department of Administrative
19 Services, shall transfer not to exceed forty million seven hundred
20 fifteen thousand four hundred fifty-nine dollars in total from the Cash
21 Reserve Fund to the Nebraska Capital Construction Fund between July 1,
22 2013, and June 30, 2018.
23 (5) The State Treasurer shall transfer the following amounts from
24 the Cash Reserve Fund to the Nebraska Capital Construction Fund on such
25 dates as directed by the budget administrator of the budget division of
26 the Department of Administrative Services:
27 (a) Seven million eight hundred four thousand two hundred ninety-two
28 dollars on or after June 15, 2016, but before June 30, 2016;
29 (b) Five million fifty-eight thousand four hundred five dollars on
30 or after July 1, 2018, but before June 30, 2019, on such dates and in
31 such amounts as directed by the budget administrator of the budget
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1 division of the Department of Administrative Services; and
2 (c) Fifteen million three hundred seventy-eight thousand three
3 hundred nine dollars on or after January 1, 2019, but before June 30,
4 2019, on such dates and in such amounts as directed by the budget
5 administrator of the budget division of the Department of Administrative
6 Services.
7 (6) The State Treasurer shall transfer seventy-five million two
8 hundred fifteen thousand three hundred thirteen dollars from the Cash
9 Reserve Fund to the Nebraska Capital Construction Fund on or before July
10 31, 2017, on such date as directed by the budget administrator of the
11 budget division of the Department of Administrative Services.
12 (7) The State Treasurer shall transfer thirty-one million dollars
13 from the Cash Reserve Fund to the General Fund after July 1, 2017, but
14 before July 15, 2017, on such date as directed by the budget
15 administrator of the budget division of the Department of Administrative
16 Services.
17 (8) The State Treasurer shall transfer thirty-one million dollars
18 from the Cash Reserve Fund to the General Fund after October 1, 2017, but
19 before October 15, 2017, on such date as directed by the budget
20 administrator of the budget division of the Department of Administrative
21 Services.
22 (9) The State Treasurer shall transfer thirty-one million dollars
23 from the Cash Reserve Fund to the General Fund after January 1, 2018, but
24 before January 15, 2018, on such date as directed by the budget
25 administrator of the budget division of the Department of Administrative
26 Services.
27 (10) The State Treasurer shall transfer thirty-two million dollars
28 from the Cash Reserve Fund to the General Fund after April 1, 2018, but
29 before April 15, 2018, on such date as directed by the budget
30 administrator of the budget division of the Department of Administrative
31 Services.
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1 (11) The State Treasurer shall transfer one hundred million dollars
2 from the Cash Reserve Fund to the General Fund on or before June 30,
3 2018, on such dates and in such amounts as directed by the budget
4 administrator of the budget division of the Department of Administrative
5 Services.
6 (12) The State Treasurer shall transfer forty-eight million dollars
7 from the Cash Reserve Fund to the General Fund after March 1, 2019, but
8 before March 15, 2019, on such date as directed by the budget
9 administrator of the budget division of the Department of Administrative
10 Services.
11 (13) The State Treasurer shall transfer XXX million dollars from the
12 Cash Reserve Fund to the General Fund on or after April 1, 2019, but
13 before June 30, 2020.
14 (14) The State Treasurer shall transfer XXX million dollars from the
15 Cash Reserve Fund to the General Fund on or after April 1, 2020, but
16 before June 30, 2021.
17 Sec. 2. Original section 84-612, Revised Statutes Cumulative
18 Supplement, 2018, is repealed.
19 Sec. 3. Since an emergency exists, this act takes effect when
20 passed and approved according to law.
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Statutes affected:
Introduced: 84-612