81-12,193.

Nebraska Transformational Project Fund; created; use; investment.

(1) The Nebraska Transformational Project Fund is hereby created. The fund shall receive money from application fees paid under the Nebraska Transformational Projects Act and from transfers authorized by the Legislature, grants, private contributions, repayments of matching funds, and all other sources. 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.

(2) It is the intent of the Legislature that the State Treasurer shall transfer an amount not to exceed three hundred million dollars to the Nebraska Transformational Project Fund. Such transfers shall only occur after the director has received sufficient documentation of investment in the project. In no case shall any transfer occur before fiscal year 2025-26. Distributions shall only be made from the fund to the applicant each year in amounts equal to fifteen percent of the investment expended for the project, up to fifty million dollars each year as allowed in section 81-12,189. For each year in which fifteen percent of investment expended exceeds the annual state limit of fifty million dollars, the excess investment amounts shall be credited to the following year's matching eligibility total.

(3) Any money remaining in the fund after all obligations have been met shall be transferred to the General Fund.