{"id":36838,"date":"2024-08-20T12:05:52","date_gmt":"2024-08-20T18:05:52","guid":{"rendered":"https:\/\/update.legislature.ne.gov\/?p=36838"},"modified":"2024-08-21T12:37:43","modified_gmt":"2024-08-21T18:37:43","slug":"budget-bills-clear-final-round","status":"publish","type":"post","link":"https:\/\/update.legislature.ne.gov\/?p=36838","title":{"rendered":"Budget bills clear final round"},"content":{"rendered":"

Lawmakers approved two budget measures Aug. 20 intended to help offset a future shortfall in funding for a property tax relief proposal passed during the special session.<\/p>\n

\"Sen.
Sen. Robert Clements<\/figcaption><\/figure>\n

LB2, introduced by Elmwood Sen. Robert Clements at the request of Gov. Jim Pillen, makes adjustments to the state budget that was finalized in the recently concluded regular legislative session.<\/p>\n

The bill reduces reappropriated general funds \u2014 also known as carryover funds \u2014 by $82 million across more than 40 state agencies in the current fiscal year and FY2024-25.<\/p>\n

LB2 also lowers general fund appropriations by $41.46 million. In total, the proposal reduces funds available to state agencies by approximately $120 million.<\/p>\n

The measure passed on a vote of 33-11.<\/p>\n

LB3, also introduced by Clements at the request of the governor, authorizes and provides for fund transfers, changes certain fund transfer provisions and changes application of investment earnings.<\/p>\n

Among other provisions, the bill eliminates the crediting of accrued interest to more than 40 state agency cash funds. Those dollars instead will be directed to the state\u2019s General Fund.<\/p>\n

The bill is projected to increase state revenue by $22 million in 2025, $80 million in 2026 and $71 million in 2027. It also states legislative intent to transfer $200 million to the General Fund from the state\u2019s Cash Reserve Fund in 2027 if needed and if funds are available.<\/p>\n

Lawmakers passed LB3 on a 36-9 vote. Both bills will take effect immediately after being signed by the governor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lawmakers approved two budget measures Aug. 20 intended to help offset a future shortfall in funding for a property tax relief proposal passed during the special session.<\/p>\n","protected":false},"author":1,"featured_media":36725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,21],"tags":[240],"class_list":["post-36838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-appropriations","category-special-session","tag-sen-robert-clements"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2024\/07\/UpdateBlogPhoto-4.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/36838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36838"}],"version-history":[{"count":4,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/36838\/revisions"}],"predecessor-version":[{"id":36858,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/36838\/revisions\/36858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/media\/36725"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}