§ 2-110 — Matching fund requirements

The most populous city within the county in which the Nebraska State Fair is held or scheduled
to be held that calendar year shall remit quarterly payments to
the State Treasurer in amounts equal to the matching fund requirement established
by the Department of Revenue under section 2-109 . The State Treasurer shall
credit the matching funds to the Nebraska State Fair Support and Improvement
Cash Fund. The city shall provide written notification to the Department of
Administrative Services regarding its compliance with the matching fund requirement.
Upon verification by the Department of Administrative Services that a quarterly
transfer of lottery proceeds to the Nebraska State Fair Support and Improvement
Cash Fund has been executed and that the full amount of the matching funds
requirement has been received from the city, the Department of Administrative
Services shall authorize the expenditure of the fund by the Nebraska State
Fair Board. Matching fund requirements shall not apply to investment income
accruing to the fund and investment income may be expended by the board.

Legislative History

Source: Laws 2005, LB 426, § 6; Laws 2009, LB224, § 3.