Nebraska § 77-913 Insurance Tax Fund; created; use; investment; allocation

Nebraska Statutes

§ 77-913 — Insurance Tax Fund; created; use; investment; allocation

Nebraska § 77-913

Ch. 77Revenue and Taxation

This text of Nebraska § 77-913 (Insurance Tax Fund; created; use; investment; allocation) 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. § 77-913 (2026).

Text

The Insurance Tax Fund is created. The State Treasurer shall receive the funds paid pursuant to Chapter 77, article 9, and except as provided in sections 77-912 and 77-918 shall keep all money received in the Insurance Tax Fund. Any money in the 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 June 1 of each year, the State Treasurer shall disburse or allocate all of the funds in the Insurance Tax Fund on May 1 of each year as follows:

(1)Ten percent of the total shall be allocated to the counties proportionately in the proportion that the population of each county bears to the entire state, as shown by the last federal decennial census;

(2)Thirty percen

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The Insurance Tax Fund is created. The State Treasurer shall receive the funds paid pursuant to Chapter 77, article 9, and except as provided in sections 77-912 and 77-918 shall keep all money received in the Insurance Tax Fund. Any money in the 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 June 1 of each year, the State Treasurer shall disburse or allocate all of the funds in the Insurance Tax Fund on May 1 of each year as follows:
(1) Ten percent of the total shall be allocated to the counties proportionately in the proportion that the population of each county bears to the entire state, as shown by the last federal decennial census;
(2) Thirty percent of the total shall be allocated to the Municipal Equalization Fund; and
(3) Sixty percent of the total shall be allocated to the State Department of Education for distribution to school districts as equalization aid pursuant to the Tax Equity and Educational Opportunities Support Act as follows: The Commissioner of Education shall (a) include the amount certified by the State Treasurer pursuant to this section in the state aid certified to each school district pursuant to section 79-1022 and (b) distribute such funds as equalization aid under the provisions of the act during the ensuing fiscal year.

Legislative History

Source: Laws 1951, c. 256, § 7, p. 880; Laws 1986, LB 1114, § 18; Laws 1990, LB 1090, § 1; Laws 1996, LB 1050, § 1; Laws 1996, LB 1177, § 17; Laws 1997, LB 269, § 36; Laws 1999, LB 113, § 4; Laws 2003, LB 8, § 1; Laws 2023, LB818, § 21. Cross References: Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260. Tax Equity and Educational Opportunities Support Act, see section 79-1001.