Nebraska LB1074 modifies unclaimed property laws, including fund transfers and statute of limitations.
Nebraska LB1074 amends the Uniform Disposition of Unclaimed Property Act. It changes the statute of limitations for actions related to unclaimed property, limiting the period to seven years after a report is filed. The bill also establishes a new Unclaimed Property Cash Fund and a Unclaimed Property Liquidation Proceeds Trust Fund. It mandates annual transfers of balances exceeding one million dollars from the Unclaimed Property Trust Fund to the permanent school fund starting in 2026.
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