Tobacco Products Administration Cash Fund; created; use; transfers; investment

(1) There is hereby created a cash fund in the Department of Revenue to be known as the Tobacco Products Administration Cash Fund. All revenue collected or received by the Tax Commissioner from the license fees, certification fees, and taxes imposed by the Tobacco Products Tax Act shall be remitted to the State Treasurer for credit to the Tobacco Products Administration Cash Fund, except that all such revenue relating to electronic nicotine delivery systems shall be remitted to the State Treasurer for credit to the General Fund.

(2) All costs required for administration of the Tobacco Products Tax Act shall be paid from the Tobacco Products Administration Cash Fund. Credits and refunds allowed under the act shall be paid from the Tobacco Products Administration Cash Fund. Any receipts, after credits and refunds, in excess of the amounts sufficient to cover the costs of administration may be transferred to the General Fund or the Department of Revenue Enforcement Fund at the direction of the Legislature.

(3) The State Treasurer shall transfer eleven million five hundred thousand dollars from the Tobacco Products Administration Cash Fund to the Department of Revenue Enforcement Fund on or after July 1, 2025, but on or before June 30, 2026, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The State Treasurer shall transfer twelve million five hundred thousand dollars from the Tobacco Products Administration Cash Fund to the Department of Revenue Enforcement Fund on or after July 1, 2026, but on or before June 30, 2027, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The State Treasurer shall transfer twelve million five hundred thousand dollars from the Tobacco Products Administration Cash Fund to the Department of Revenue Enforcement Fund on or after July 1, 2027, but on or before June 30, 2028, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services. The State Treasurer shall transfer nine million five hundred thousand dollars from the Tobacco Products Administration Cash Fund to the Department of Revenue Enforcement Fund on or after July 1, 2028, but on or before June 30, 2029, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services.

(4) Any money in the Tobacco Products Administration 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.