(1) The department shall operate a data match system with each financial institution doing business in the State of Nebraska.

(2) Under the data match system, a financial institution shall receive from the department a listing of tax debtors to be used in matches within the financial institution's system. The listing from the department shall include the name and social security number or federal employer identification number of each tax debtor. The financial institution shall receive the listing within thirty days after the end of each calendar quarter subsequent to July 19, 2024. Within thirty days after receiving the listing, the financial institution shall match the listing to its records of accounts held in one or more persons' names which are open accounts or accounts that were closed within the preceding calendar quarter. The financial institution shall provide the department with a match listing of all matches made within five working days of the match. The match listing from the financial institution shall include the name, address, and social security number or federal employer identification number of each tax debtor matched and the balance of each account. The financial institution shall also provide the names and addresses of all other owners of accounts in the match listing as reflected on a signature card or other similar document on file with the financial institution. The financial institution shall submit all match listings by an electronic medium approved by the department.

(3) Nothing in this section shall (a) require a financial institution to disclose the account number assigned to the account of any person or (b) serve to encumber the ownership interest of any person in or impact any right of setoff against an account.

(4) To maintain the confidentiality of the listing and match listing, the department shall implement appropriate security provisions for the listing and match listing which are as stringent as those established under the federal Tax Information Security Guidelines for Federal, State and Local Agencies.