Nebraska LB123 modifies withholding of state aid for noncompliance with budget limits and annual audits for political subdivisions.
Nebraska LB123 changes how state aid is withheld from political subdivisions that do not comply with budget limits or annual audits. If a governmental unit does not comply with budget limits, the State Treasurer will suspend state aid for six months. If the unit complies within this period, it receives the suspended funds; if not, the funds are forfeited and redistributed or returned to the General Fund. If a city or village fails to comply with annual audits, it loses eligibility for certain state distributions.
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