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Bill > LB1153
NE LB1153
NE LB1153Change provisions relating to recovery under the Consumer Protection Act, provide a termination date for the State Settlement Cash Fund and for distribution of money in the fund, and change provisions relating to the State Settlement Trust Fund
summary
Introduced
01/20/2026
01/20/2026
In Committee
01/22/2026
01/22/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to the Consumer Protection Act; to amend sections 59-1608.03 and 59-1608.05, Reissue Revised Statutes of Nebraska, and section 59-1608.04, Revised Statutes Cumulative Supplement, 2024; to change provisions relating to recovery under the act; to provide a termination date for the State Settlement Cash Fund and provide powers and duties to the State Treasurer regarding any money in such fund; to change provisions relating to the State Settlement Trust Fund; to harmonize provisions; to repeal the original sections; and to declare an emergency.
AI Summary
This bill modifies how money recovered under the Consumer Protection Act is handled, specifically concerning the State Settlement Cash Fund and the State Settlement Trust Fund. The State Settlement Cash Fund will terminate on July 1, 2026, and any remaining funds will be distributed according to a new schedule: one percent each to the Legal Education for Public Service and Rural Practice Loan Repayment Assistance Fund, the Financial Literacy Cash Fund, and the Board of Regents of the University of Nebraska for a tenant assistance project, one percent to the University of Nebraska Medical Center for pediatric cancer research, and the remaining ninety-six percent will go to common schools. The State Settlement Trust Fund, which holds money for specific beneficiaries, will continue to exist but with updated language to clarify its contents and management, ensuring it only includes funds held in a trust capacity where specific benefits accrue to specific individuals, organizations, or governments. These changes aim to harmonize existing laws and establish a clear end date and distribution plan for the State Settlement Cash Fund.
Committee Categories
Justice
Sponsors (1)
Last Action
Judiciary Hearing (13:30:00 2/5/2026 Room 1525) (on 02/05/2026)
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=63007 |
| Fiscal Note for LB1153 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB1153_20260204-125234.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB1153.pdf |
| Kauth FA813 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA813.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB1153.pdf |
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