Bill > LB838

This bill makes several changes to Nebraska law, primarily focusing on financial regulations and consumer protection. It amends the Nebraska Money Transmitters Act to prohibit licenses for entities connected to "foreign adversary persons" (defined as individuals or entities from countries deemed adversaries to the U.S. national security, such as China, Iran, North Korea, Russia, and Cuba, and Venezuela's Maduro Regime), and introduces an excise tax of 25% on remittance transfers (money sent via cash, money order, or cashier's check) to residents of these foreign adversary countries, with exceptions for Cuba and Venezuela and for active-duty military personnel and their dependents. The bill also enhances protections against the financial exploitation of vulnerable or senior adults by financial institutions, allowing them to delay or refuse transactions and notify associated third parties, and provides immunity for financial institutions acting in good faith regarding these measures. Additionally, it updates provisions related to decedents' estates, increasing homestead and exempt property allowances for surviving spouses and children, modifies rules of civil procedure, and amends the Age-Appropriate Online Design Code Act to strengthen protections for minors online by requiring more robust privacy settings, limiting certain design features that encourage excessive use, and enhancing parental controls. Finally, it allows for the rounding of certain cash transaction amounts to the nearest five cents to simplify transactions.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63102