§ 77-4025 — Tobacco Products Administration Cash Fund; created; use; transfers; investment

Nebraska § 77-4025

• Jurisdiction: Nebraska
• Ch. 77: Revenue and Taxation

Text

(1) There is hereby created a cash fund in the Department of Revenue to be known as the Tobacco Products Administration Cash Fund. All revenue collected or received by the Tax Commissioner from the license fees, certification fees, and taxes imposed by the Tobacco Products Tax Act shall be remitted to the State Treasurer for credit to the Tobacco Products Administration Cash Fund, except that all such revenue relating to electronic nicotine delivery systems shall be remitted to the State Treasurer for credit to the General Fund.
(2) All costs required for administration of the Tobacco Products Tax Act shall be paid from the Tobacco Products Administration Cash Fund. Credits and refunds allowed under the act shall be paid from the Tobacco Products Administration Cash Fund. Any receipts, after credits and refunds, in excess of the amounts sufficient to cover the costs of administration may be transferred to the General Fund at the direction of the Legislature.
(3) The State Treasurer shall transfer nine million five hundred thousand dollars from the Tobacco Products Administration Cash Fund to the General Fund on or after July 1, 2025, but on or before June 30, 2026, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The State Treasurer shall transfer nine million five hundred thousand dollars from the Tobacco Products Administration Cash Fund to the General Fund on or after July 1, 2026, but on or before June 30, 2027, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The State Treasurer shall transfer nine million dollars from the Tobacco Products Administration Cash Fund to the General Fund on or after July 1, 2027, but on or before June 30, 2028, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The State Treasurer shall transfer nine million dollars from the Tobacco Products Administration Cash Fund to the General Fund on or after July 1, 2028, but on or before June 30, 2029, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services.
(4) Any money in the Tobacco Products Administration Cash 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.

Legislative History

Source: Laws 1987, LB 730, § 25; Laws 1989, LB 258, § 12; Laws 1994, LB 1066, § 85; Laws 2002, LB 1085, § 21; Laws 2002, LB 1310, § 10; Laws 2009, LB89, § 7; Laws 2023, LB727, § 94; Laws 2024, LB1204, § 36; Laws 2024, First Spec. Sess., LB3, § 28; Laws 2025, LB264, § 161. Operative Date: May 22, 2025 Cross References: Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260.