Bill > LB451

This bill modifies the handling of the Unclaimed Property Trust Fund and the Capitol Restoration Cash Fund by changing how surplus funds are distributed. Specifically, from 2025 to 2034, the State Treasurer will first transfer the first $1 million from excess Unclaimed Property Trust Fund balance to the Capitol Restoration Cash Fund, with any remaining balance going to the permanent school fund. Before 2025 and after 2034, all excess funds above $1 million will go to the permanent school fund. The bill also adds provisions clarifying record-keeping requirements for unclaimed property, including restricting professional finders' fees to 10% of the property's value and mandating that finders disclose specific details to property owners. Additionally, the bill modifies the Capitol Restoration Cash Fund to explicitly allow transfers from the Unclaimed Property Trust Fund and provides guidelines for how the fund can be used, such as financing State Capitol restoration projects and purchasing items for the Nebraska Capitol Collections. The changes aim to provide more transparent and structured management of these state funds.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=58803