§ 61-405 — Jobs and Economic Development Initiative Fund; created; use; investment; studies required

Nebraska § 61-405

• Jurisdiction: Nebraska
• Ch. 61: Natural Resources

Text

(1) The Jobs and Economic Development Initiative Fund is created. The fund shall be administered by the Department of Water, Energy, and Environment. The State Treasurer shall credit to the fund any money transferred to the fund by the Legislature and such donations, gifts, bequests, or other money received from any federal or state agency or public or private source. The fund shall be used for water and recreational projects pursuant to the Jobs and Economic Development Initiative Act. Transfers may be made from the fund to the General Fund, the Cash Reserve Fund, or the Roads Operations Cash Fund at the direction of the Legislature. Any money in the Jobs and Economic Development Initiative Fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. Prior to October 1, 2024, any investment earnings from investment of money in the fund shall be credited to the fund. Beginning October 1, 2024, any investment earnings from investment of money in the fund shall be credited to the General Fund.
(2) An amount, not to exceed twenty million dollars, shall be available for site selection costs, feasibility and public water supply studies, and flood mitigation costs of the Department of Water, Energy, and Environment related to any projects pursuant to the Jobs and Economic Development Initiative Act. The Department of Water, Energy, and Environment shall, in cooperation with impacted communities, including, but not limited to, any city of the primary class and metropolitan utilities district, contract with an independent consultant to conduct a study on the consequences of any lake located in the Lower Platte River Basin to the public water supply of such communities. Such study shall consider all aspects of water quality, water quantity, and water infrastructure, and any other issues necessary to protect the public water supply, including the impact to future water supply opportunities to the impacted communities.
(3) No funds shall be expended for any project, other than those enumerated in subsection (2) of this section, from the Jobs and Economic Development Initiative Fund unless the Director of Water, Energy, and Environment certifies to the budget administrator of the budget division of the Department of Administrative Services that the Department of Water, Energy, and Environment has conducted any environmental, hydrological, or other feasibility studies the director deems necessary to establish the feasibility of any projects pursuant to the Jobs and Economic Development Initiative Act and that, based on the results of such studies, the director has deemed the projects feasible.

Legislative History

Source: Laws 2022, LB1012, § 7; Laws 2024, LB1413, § 42; Laws 2024, First Spec. Sess., LB3, § 24; Laws 2025, LB264, § 145; Laws 2025, LB317, § 351. Note: The Revisor of Statutes has pursuant to section 49-769 correlated LB264, section 145, with LB317, section 351, to reflect all amendments. Note: Changes made by LB 264 became operative May 22, 2025. Changes made by LB317 became operative July 1, 2025. Cross References: Jobs and Economic Development Initiative Act, see section 61-401. Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260.