Bill > LB627

This bill authorizes the Board of Regents of the University of Nebraska to design and construct residential facilities for nursing and allied health profession students in Norfolk, Nebraska, with a total project cost of $23 million to be supported by state funds. The Legislature intends to provide annual appropriations of $1,150,000 for twenty years, and the Board of Regents is permitted to enter into long-term financing contracts with various entities, with payments extending no later than June 30, 2045. The bill specifies that the state's credit cannot be directly pledged for these contracts, but appropriations can be used for payment, and the Board may convey or lease facilities to facilitate long-term payment. When the facility's costs are fully paid, it will become the property of the Board of Regents. The Legislature also intends that appropriations for these facilities will not be reduced until all contracts and securities are completed or paid, and additionally plans to appropriate $250,000 for educational technology for the Norfolk facilities. The bill includes provisions ensuring that any unused appropriated funds will be transferred to the General Fund by August 31, 2045.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59810