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Bill > LB1074
NE LB1074
NE LB1074Change provisions relating to unclaimed property proceeds and funds and a statute of limitations
summary
Introduced
01/15/2026
01/15/2026
In Committee
01/20/2026
01/20/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to unclaimed property; to amend section 69-1315, Reissue Revised Statutes of Nebraska, and section 69-1317, Revised Statutes Supplement, 2025; to change provisions relating to a statute of limitations; to change the treatment of proceeds from abandoned property; to change fund balance limitations; to create a trust fund; to provide duties for the State Treasurer; to harmonize provisions; and to repeal the original sections.
AI Summary
This bill modifies Nebraska's laws regarding unclaimed property, which refers to money or property that has been abandoned by its rightful owner. Firstly, it adjusts the statute of limitations, which is the time limit for taking legal action, for the State Treasurer's ability to examine holders of unclaimed property, meaning the time limit can be paused or "tolled" if the Treasurer initiates an examination or a holder agrees to a voluntary disclosure. Secondly, it changes how proceeds from the sale of abandoned property are handled by creating a new "Unclaimed Property Liquidation Proceeds Trust Fund" specifically for these funds, which will then be used to pay claims related to that property before any remaining balance is transferred to the main "Unclaimed Property Trust Fund." Finally, the bill updates the thresholds for transferring excess funds from the Unclaimed Property Trust Fund to other funds, such as the Capitol Restoration Cash Fund and the permanent school fund, with higher balances requiring transfer starting in 2026.
Committee Categories
Military Affairs and Security
Sponsors (1)
Last Action
Placed on General File (on 02/19/2026)
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=63329 |
| Analysis - Committee Statement | https://nebraskalegislature.gov/FloorDocs/109/PDF/CS/LB1074.pdf |
| Fiscal Note for LB1074 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB1074_20260128-132609.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB1074.pdf |
| Kauth FA733 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA733.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB1074.pdf |
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