§ 85-1419 — Coordinating Commission for Postsecondary Education Cash Fund; created; use; investment

There is hereby created the Coordinating Commission for Postsecondary
Education Cash Fund. The fund shall contain money received from application
fees from out-of-state institutions of higher and postsecondary education
seeking authorization to offer courses and programs in the State of Nebraska
and from private colleges seeking provisional accreditation and money received
by the commission for services rendered incident to the administration of
its statutory or contractual functions. The fund shall be expended for the
administrative costs of reviewing applications, publishing and duplicating
reports, coordinating studies, conducting conferences, and other related activities
as may be authorized by the Legislature or by contract, except that transfers may be made from the fund to the
General Fund at the direction of the Legislature. All such money
received by the commission shall be remitted to the State Treasurer for credit
to the Coordinating Commission for Postsecondary
Education Cash Fund. A report on the receipts and expenditures
from the fund shall be included as a part of the operating budget request
submitted to the Legislature and the Governor. 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.

Legislative History

Source: Laws 1991, LB 663, § 22; Laws 1994, LB 683, § 23; Laws 1994, LB 1066, § 138; Laws 2009, First Spec. Sess., LB3, § 94. Cross References: Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260.