Nebraska § 77-6105 Qualified individual; withdrawals authorized

Nebraska Statutes

§ 77-6105 — Qualified individual; withdrawals authorized

Nebraska § 77-6105

Ch. 77Revenue and Taxation

This text of Nebraska § 77-6105 (Qualified individual; withdrawals authorized) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-6105 (2026).

Text

A qualified individual as defined in subdivision (4)(a) of section  77-6102  may make withdrawals as a participant in the Nebraska long-term care savings plan to pay or reimburse long-term care expenses. A qualified individual as defined in subdivision (4)(b) of section  77-6102  may make withdrawals to pay or reimburse long-term care insurance premiums. Any participant who is not a qualified individual or who makes a withdrawal for any reason other than transfer of funds to a spouse, long-term care expenses, long-term care insurance premiums, death of the participant, or termination of the Long-Term Care Savings Plan Act shall be subject to a ten-percent penalty on the amount withdrawn. The State Treasurer shall collect the penalty.

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A qualified individual as defined in subdivision (4)(a) of section 77-6102 may make withdrawals as a participant in the Nebraska long-term care savings plan to pay or reimburse long-term care expenses. A qualified individual as defined in subdivision (4)(b) of section 77-6102 may make withdrawals to pay or reimburse long-term care insurance premiums. Any participant who is not a qualified individual or who makes a withdrawal for any reason other than transfer of funds to a spouse, long-term care expenses, long-term care insurance premiums, death of the participant, or termination of the Long-Term Care Savings Plan Act shall be subject to a ten-percent penalty on the amount withdrawn. The State Treasurer shall collect the penalty.