(1) The Transportation Infrastructure Bank Fund is created. The fund shall be administered by the department and shall be used for purposes of sections 39-2803 to 39-2807. 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. Investment earnings from investment of money in the fund shall be credited to the fund.

Terms Used In Nebraska Statutes 39-2803

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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

(2) The Transportation Infrastructure Bank Fund shall consist of money transferred from the Cash Reserve Fund pursuant to section 84-612 and any other money as determined by the Legislature.

(3) It is the intent of the Legislature that additional fuel tax revenue generated by Laws 2015, LB610, shall be transferred from the Roads Operations Cash Fund to the Transportation Infrastructure Bank Fund. Transfers shall be initiated each fiscal year by the State Treasurer following certification of revenue receipts by the Director-State Engineer from July 1, 2016, through June 2033. Transferred funds shall be used for purposes of sections 39-2803 to 39-2807.

Source

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