Chapter 58 — MONEY AND FINANCING
293 sections in this chapter.
Repealed. Laws 2007, LB 136, § 11.
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[Repealed or reserved.]
Repealed. Laws 2007, LB 136, § 11.
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[Repealed or reserved.]
Repealed. Laws 2007, LB 136, § 11.
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[Repealed or reserved.]
Neb. Rev. Stat. § 58-610 Act, how cited.
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Sections 58-610 to 58-619 shall be known and be cited as the Nebraska Uniform Prudent Management of Institutional Funds Act.
Neb. Rev. Stat. § 58-611 Definitions.
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For purposes of the Nebraska Uniform Prudent Management of Institutional Funds Act: (1) Charitable purpose means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement…
Neb. Rev. Stat. § 58-612 Standard of conduct in managing and investing institutional fund.
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(a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. (b) In addition to complying with the duty o…
Neb. Rev. Stat. § 58-613 Appropriation for expenditure or accumulation of endowment fund; rules of construction.
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(a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is…
Neb. Rev. Stat. § 58-614 Delegation of management and investment functions.
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(a) Subject to any specific limitation set forth in a gift instrument or in law other than the Nebraska Uniform Prudent Management of Institutional Funds Act, an institution may delegate to an external agent the management and investment of an institutional fund to the extent tha…
Neb. Rev. Stat. § 58-615 Release or modification of restrictions on management, investment, or purpose.
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(a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpo…
Neb. Rev. Stat. § 58-616 Reviewing compliance.
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Compliance with the Nebraska Uniform Prudent Management of Institutional Funds Act is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.
Neb. Rev. Stat. § 58-617 Application to existing institutional funds.
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The Nebraska Uniform Prudent Management of Institutional Funds Act applies to institutional funds existing on or established after September 1, 2007. As applied to institutional funds existing on September 1, 2007, the act governs only decisions made or actions taken on or after …
Neb. Rev. Stat. § 58-618 Relation to Electronic Signatures in Global and National Commerce Act.
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The Nebraska Uniform Prudent Management of Institutional Funds Act modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., as the act existed on September 1, 2007, but does not modify, limit, or supersede section 101…
Neb. Rev. Stat. § 58-619 Uniformity of application and construction.
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In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Neb. Rev. Stat. § 58-701 Act, how cited.
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Sections 58-701 to 58-713 shall be known and may be cited as the Nebraska Affordable Housing Act.
Neb. Rev. Stat. § 58-702 Legislative findings.
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The Legislature finds that current economic conditions, lack of available affordable housing, federal housing policies that have placed an increasing burden on the state, and declining resources at all levels of government adversely affect the ability of Nebraska's citizens to ob…
Neb. Rev. Stat. § 58-703 Affordable Housing Trust Fund; created; use.
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(1) The Affordable Housing Trust Fund is created. The fund shall receive money pursuant to section 76-903 and may include appropriations from the Legislature, transfers authorized by the Legislature, grants, private contributions, repayment of loans, and funds from all other sour…
Repealed. Laws 2026, LB768, § 22.
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[Repealed or reserved.]
Neb. Rev. Stat. § 58-705 Department of Economic Development; Affordable Housing Trust Fund; duties.
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The Department of Economic Development shall use the Affordable Housing Trust Fund to finance loans, grants, subsidies, credit enhancements, and other financial assistance for community affordable housing projects and for expenses of the department as appropriated by the Legislat…
Neb. Rev. Stat. § 58-706 Affordable Housing Trust Fund; eligible activities.
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The following activities are eligible for assistance from the Affordable Housing Trust Fund: (1) New construction, rehabilitation, or acquisition of housing to assist low-income and very low-income families; (2) Matching funds for new construction, rehabilitation, or acquisition …
Neb. Rev. Stat. § 58-707 Assistance; qualified recipients.
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Organizations which may receive assistance under the Nebraska Affordable Housing Act are governmental subdivisions, local housing authorities, community action agencies, community-based or neighborhood-based or reservation-based nonprofit organizations, and for-profit entities wo…
Neb. Rev. Stat. § 58-708 Department of Economic Development; selection of projects to receive assistance; disbursements; duties; schedule of uses of funds; annual reporting requirements; recapture funds; when.
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(1) During each calendar year in which funds are available from the Affordable Housing Trust Fund for use by the Department of Economic Development, the department shall make its best efforts to allocate not less than thirty percent of such funds to each congressional district. T…
Neb. Rev. Stat. § 58-709 Rules and regulations.
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The Department of Economic Development, in consultation with the Nebraska Investment Finance Authority , shall adopt and promulgate rules and regulations to carry out the Nebraska Affordable Housing Act. The department shall monitor programs to see that only qualified individuals…
Repealed. Laws 1998, LB 897, § 1.
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[Repealed or reserved.]
Neb. Rev. Stat. § 58-711 Information on status of Affordable Housing Trust Fund; report; contents.
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(1) The Department of Economic Development shall submit, as part of the department's annual status report under section 81-1201.11, the following information regarding the Affordable Housing Trust Fund: (a) The applications funded during the previous calendar year; (b) the applic…
Repealed. Laws 2026, LB768, § 22.
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[Repealed or reserved.]
Neb. Rev. Stat. § 58-713 Department of Economic Development; contract with agent.
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(1) The Department of Economic Development may contract with a statewide public or private nonprofit organization or a state instrumentality which shall serve as agent for the department to help carry out the purposes and requirements of the Nebraska Affordable Housing Act. (2) I…
Neb. Rev. Stat. § 58-801 Act, how cited.
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Sections 58-801 to 58-866 shall be known and may be cited as the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act.
Neb. Rev. Stat. § 58-802 Legislative findings.
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The Legislature finds and declares that: (1) For the benefit of the people of the State of Nebraska, the increase of their commerce, welfare, and prosperity, and the fostering, protection, and improvement of their health and living conditions, it is essential that this and future…
Neb. Rev. Stat. § 58-803 Definitions, where found.
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For purposes of the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, unless the context otherwise requires, the definitions found in sections 58-804 to 58-812 shall apply.
Neb. Rev. Stat. § 58-804 Authority, defined.
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Authority means the Nebraska Educational, Health, Cultural, and Social Services Finance Authority created by the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act or any board, body, commission, department, or office succeeding to the principal fun…
Neb. Rev. Stat. § 58-805 Bonds, defined.
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Bonds means bonds, notes, or other obligations of the authority issued under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, including refunding bonds, notwithstanding that the same may be secured by the full faith and credit of an eligible …
Neb. Rev. Stat. § 58-806 Cost, defined.
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Cost as applied to a project or any portion thereof financed under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act means all or any part of the cost of acquisition, construction, improvement, equipment, and renovation of all land, buildings, …
Neb. Rev. Stat. § 58-807 Eligible institution, defined.
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Eligible institution means a private institution of higher education, a private health care institution, a private cultural institution, or a private social services institution.
Neb. Rev. Stat. § 58-807.01 Private cultural institution, defined.
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Private cultural institution means any private not-for-profit corporation or institution that (1) has a primary purpose of promoting cultural education or development, such as a museum or related visual arts center, performing arts facility, or facility housing, incubating, devel…
Neb. Rev. Stat. § 58-808 Private health care institution, defined.
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Private health care institution means any private not-for-profit corporation or institution that (1) is licensed under the Health Care Facility Licensure Act, (2) is described in section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxation under secti…
Neb. Rev. Stat. § 58-809 Private institution of higher education, defined.
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Private institution of higher education means a not-for-profit educational institution located within this state which is not owned or controlled by the state or any political subdivision, agency, instrumentality, district, or municipality thereof, which is authorized by law to p…
Neb. Rev. Stat. § 58-810 Private social services institution, defined.
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Private social services institution means any private not-for-profit corporation or institution that (1) provides health, safety, and welfare assistance, including emergency, social, housing, and related support services, to members of the general public in the state, (2) is desc…
Neb. Rev. Stat. § 58-811 Project, defined.
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(1) Project means any property located within the state that may be used or will be useful in connection with the instruction, feeding, recreation, or housing of students, the provision of health care services to members of the general public, the provision of cultural services t…
Neb. Rev. Stat. § 58-812 Property, defined.
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Property means the real estate upon which a project is or will be located, including equipment, machinery, and other similar items necessary or convenient for the operation of the project in the manner for which its use is intended, but not including such items as fuel, supplies,…
Neb. Rev. Stat. § 58-813 Nebraska Educational, Health, Cultural, and Social Services Finance Authority; created.
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There is hereby created a body politic and corporate to be known as the Nebraska Educational, Health, Cultural, and Social Services Finance Authority. The authority is constituted a public instrumentality, and the exercise by the authority of the powers conferred by the Nebraska …
Neb. Rev. Stat. § 58-814 Authority; members; qualifications; appointment; terms; removal.
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(1) The authority shall consist of seven members, to be appointed by the Governor, who shall be residents of the state, not more than four of whom shall be members of the same political party. (2) Of the seven members: (a) At least one shall be a trustee, director, officer, or em…
Neb. Rev. Stat. § 58-815 Authority; officers; executive director; compensation; receive contributions.
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Each year the authority shall elect one of its members as chairperson and another member as vice-chairperson. It may appoint an executive director and assistant executive director, who shall not be members of the authority but who shall serve at the pleasure of the authority. An …
Neb. Rev. Stat. § 58-816 Authority; keep records and accounts; seal; certified copies.
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The executive director, assistant executive director, or any other person designated by resolution of the authority shall keep records and accounts of all proceedings and financial dealings of the authority, shall be custodian of all books, documents, and papers filed with the au…
Neb. Rev. Stat. § 58-817 Authority; quorum; actions; vacancy; effect; meetings.
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Four members of the authority shall constitute a quorum. The affirmative vote of a majority of all of the members of the authority shall be necessary for any action taken by the authority. A vacancy in the membership of the authority shall not impair the right of a quorum to exer…
Neb. Rev. Stat. § 58-818 Authority; officers, members, and employees; surety bond requirements.
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Before the issuance of any bonds under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, the chairperson, vice-chairperson, executive director, and assistant executive director, if any, and any other member of the authority authorized by resol…
Neb. Rev. Stat. § 58-819 Authority; members; expenses.
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The members of the authority shall receive no compensation for the performance of their duties as members, but each such member shall be reimbursed for expenses while engaged in the performance of such duties as provided in sections 81-1174 to 81-1177 from any funds legally avail…
Neb. Rev. Stat. § 58-820 Authority member or employee; conflict of interest; abstention.
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Notwithstanding any other law to the contrary, it shall not be or constitute a conflict of interest for a trustee, director, officer, or employee of any educational institution, health care institution, cultural institution, social services institution, financial institution, com…
Neb. Rev. Stat. § 58-821 Authority; purpose.
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The purpose of the authority shall be to assist eligible institutions in the acquisition, construction, improvement, equipment, renovation, financing, and refinancing of projects and to administer and operate the Nebraska Health Education Assistance Loan Program as provided in se…
Neb. Rev. Stat. § 58-822 Authority; perpetual succession; bylaws.
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The authority shall have perpetual succession as a body politic and corporate and may adopt bylaws for the regulation of its affairs and the conduct of its business.
Neb. Rev. Stat. § 58-823 Authority; adopt seal.
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The authority may adopt an official seal and alter the same at its pleasure.