Statute 77 4602

77-4602. Actual General Fund net receipts; public statement by Tax Commissioner; Tax Commissioner; duties; transfer of funds; when.(1) Within fifteen days after the end of each month, the Tax Commissioner shall provide a public statement of actual General Fund net receipts, a comparison of such actual net receipts to the monthly estimated net receipts from the most recent forecast provided by the Nebraska Economic Forecasting Advisory Board pursuant to section 77-27,158, and a comparison of such actual net receipts to the monthly actual net receipts for the same month of the previous fiscal year.(2) Within fifteen days after the end of each fiscal year, the public statement shall also include (a) a summary of actual General Fund net receipts and estimated General Fund net receipts for the fiscal year as certified pursuant to sections 77-4601 and 77-4603 and (b) a comparison of the actual General Fund net receipts for the fiscal year to the actual General Fund net receipts for the previous fiscal year.(3)(a) Within fifteen days after the end of each fiscal year, the Tax Commissioner shall determine actual General Fund net receipts for the most recently completed fiscal year minus

vious fiscal year.(3)(a) Within fifteen days after the end of each fiscal year, the Tax Commissioner shall determine actual General Fund net receipts for the most recently completed fiscal year minus estimated General Fund net receipts for such fiscal year as certified pursuant to sections 77-4601 and 77-4603.(b) If actual General Fund net receipts for the most recently completed fiscal year exceed estimated General Fund net receipts for such fiscal year, the Tax Commissioner shall certify the excess amount to the State Treasurer. The State Treasurer shall transfer the excess amount to the Cash Reserve Fund, except as otherwise provided in subdivision (3)(c) of this section.(c) If actual General Fund net receipts for the most recently completed fiscal year exceed one hundred three percent of actual General Fund net receipts for the previous fiscal year, the transfer described in subdivision (3)(b) of this section shall be modified as follows:(i) The amount transferred to the Cash Reserve Fund shall be reduced by the excess amount calculated under subdivision (3)(c) of this section; and(ii) Such excess amount shall be transferred to the School District Property Tax Relief Credit

serve Fund shall be reduced by the excess amount calculated under subdivision (3)(c) of this section; and(ii) Such excess amount shall be transferred to the School District Property Tax Relief Credit Fund.Source Laws 1993, LB 38, § 2; Laws 1996, LB 1290, § 4; Laws 2019, LB638, § 1; Laws 2020, LB1107, § 137; Laws 2021, LB180, § 1; Laws 2024, First Spec. Sess., LB34, § 26. Effective Date: August 21, 2024 Cross References Cash Reserve Fund, see section 84-612. School District Property Tax Relief Credit Fund, see section 77-7304.