Nebraska Revised Statutes Chapter 81. State Administrative Departments § 81-1213.02. Economic Development Cash Fund; created; use; investment

The Economic Development Cash Fund is created. The Department of Economic Development shall administer the fund to provide a grant to a community college serving a city of the metropolitan class to partner with a four-year public university serving a city of the metropolitan class to offer microcredentials to support education expansion, curricula development, and staff hires to meet demand for microchip fabrication and microelectronics manufacturing in the state in conjunction with the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283. The fund shall consist of money transferred by the Legislature and gifts, grants, or bequests from any source, including money remitted to the fund from any other federal, state, public, and private sources. Transfers may be made from the fund to the General Fund at the direction of the Legislature. Any money in the Economic Development Cash Fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.