Nebraska Statutes 77-2365. Revenue-Sharing Trust Fund; created; investment; expenditure
There is hereby established in the state treasury a special fund to be known as the Revenue-Sharing Trust Fund to which shall be credited all funds received by the state under the federal State and Local Fiscal Assistance Act of 1972, Public Law 92-512, or act successor thereto and to which shall be credited all earnings from the investment thereof. No expenditure shall be made from such fund except upon specific appropriation by the Legislature. Any such appropriation shall in all respects comply with the terms of the law and rules and regulations pursuant to which the federal government disburses such funds to the state. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.
Terms Used In Nebraska Statutes 77-2365
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801