Bill
Bill > LB885
NE LB885
NE LB885Allow the Governor to remove the state investment officer from office and eliminate the need for cause for removal of the state investment officer
summary
Introduced
01/08/2026
01/08/2026
In Committee
01/12/2026
01/12/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to the state investment officer; to amend section 72-1240, Reissue Revised Statutes of Nebraska; to change how the state investment officer may be removed from office; and to repeal the original section.
AI Summary
This bill proposes to change how the State Investment Officer, who manages the state's investments and is appointed with approval from the Governor and the Legislature, can be removed from their position. Currently, the State Investment Officer can only be removed "for cause," meaning there must be a specific reason or justification for their dismissal. This bill would amend the law to allow the council that appoints the officer, or the Governor, to remove the State Investment Officer without needing to provide a specific cause. The bill also repeals the original section of law that outlines the current removal process.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Nebraska Retirement Systems Hearing (12:00:00 2/27/2026 Room 1023) (on 02/27/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63250 |
| Fiscal Note for LB885 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB885_20260226-124523.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB885.pdf |
| Kauth FA525 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA525.pdf |
| Andersen FA466 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA466.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB885.pdf |
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