PREPARED BY: Scott Danigole
LB 451 DATE PREPARED: January 30, 2025
PHONE: 402-471-0055
Revision: 00
FISCAL NOTE
LEGISLATIVE FISCAL ANALYST ESTIMATE
ESTIMATE OF FISCAL IMPACT – STATE AGENCIES (See narrative for political subdivision estimates)
FY 2025-26 FY 2026-27
EXPENDITURES REVENUE EXPENDITURES REVENUE
GENERAL FUNDS
CASH FUNDS See Below See Below
FEDERAL FUNDS
OTHER FUNDS See Below See Below
TOTAL FUNDS See Below See Below
Any Fiscal Notes received from state agencies and political subdivisions are attached following the Legislative Fiscal Analyst Estimate.
LB 451 requires a t ransfer of any balance in excess of $1,000,000 in the Unclaimed Property Trust Fund on or before No vember 1 each
year beginning in 2025 through 2034. The first $1,000,000 transferred shall be to the Capitol Restoration Cash Fund. Any remaining
balance shall be transferred to the Permanent School Fund.
Current practice is that any Unclaimed Pro perty Trust Fund balance in excess of $1 million is transferred to the Permanent School
Fund.
The net effect of LB 451 is that from 2025 through 2034, the Permanent School fund will re ceive $1,000,000 less per year for a total of
$10,000,000. The Capitol Restoration Cash Fund will receive those funds.
The Department of Administrative Services (DAS) estimates $1,000,000 of revenue per year coming into the Capitol Restoration Cash
Fund. This estimate is accurate, per the provisions o f LB 451. DAS also estimates $1,000,000 of expenditures in their fiscal note
response. LB 451 is silent regarding additional expenditures from the fund; the bill only requires the aforementioned transfers. For this
reason, the DAS estimate of $1,000,000 per year from the Capitol Restoration Cash Fund is not included in the table above.
The Treasurer estimates no fiscal impact. The net fiscal impact of LB 451 is $0.
ADMINISTRATIVE SERVICES STATE BUDGET DIVISION: REVIEW OF AGENCY & POLT. SUB. RESPONSE
LB: 451 AM: AGENCY/POLT. SUB: State Treasurer
REVIEWED BY: Ryan Walton DATE: 1/30/2025 PHONE: (402) 471-4174
COMMENTS: The State Treasurer’s assessment of no fiscal impact from LB 451, appears reasonable.
ADMINISTRATIVE SERVICES STATE BUDGET DIVISION: REVIEW OF AGENCY & POLT. SUB. RESPONSE
LB: 451 AM: AGENCY/POLT. SUB: Department of Administrative Services (DAS)
REVIEWED BY: Ryan Walton DATE: 2/12/2025 PHONE: (402) 471-4174
COMMENTS: DAS’ assessment of fiscal impact from LB 451, appears reasonable.
Please complete ALL (5) blanks in the first three lines. 2025
LB
(1) 451 FISCAL NOTE
State Agency OR Political Subdivision Name:
(2)
Department of Administrative Services (DAS) Office of the
Capitol Commission (OCC)
Prepared by:
(3) Ann Martinez Date Prepared:
(4)
2/4/2025 Phone:
(5)
402-471-4135
ESTIMATE PROVIDED BY STATE AGENCY OR POLITICAL SUBDIVISION
FY 2025-26 FY 2026-27
EXPENDITURES REVENUE EXPENDITURES REVENUE
GENERAL FUNDS
CASH FUNDS
$1,000,000 $1,000,000 $1,000,000 $1,000,000
FEDERAL FUNDS
REVOLVING
FUNDS
TOTAL FUNDS
$1,000,000 $1,000,000 $1,000,000 $1,000,000
Explanation of Estimate:
LB 451 provides that on or before November 1
st
of each year beginning in 2025 through 2034, the Treasurer shall
transfer any balance in excess of one million dollars from the Unclaimed Property Trust Fund as follows:
The first one million dollars – (less any costs related to unclaimed property) to the Capitol Restoration Cash Fund;
and any remaining balance to the permanent school fund.
Expenditures from the fund will be prescribed by the administrator and approved by the commission.
An A- Bill would be necessary for a cash fund appropriation of one million dollars in order to spend this funding
annually.
_____________________________________________________________________________________________________ _
BREAKDOWN BY MAJOR OBJECTS OF EXPENDITURE
Personal Services:
POSITION TITLE
NUMBER OF POSITIONS
25-26 26-27
2025-26
EXPENDITURES
2026-27
EXPENDITURES
Benefits………………………………...……
Operating…………………………...………. $1,000,000 $1,000,000
Travel………………………………………..
Capital outlay…………………...…………..
Aid…………………………………………...
Capital improvements……………………...
TOTAL……………………………… ..... $1,000,000 $1,000,000
Please complete ALL (5) blanks in the first three lines. 2025
LB
(1) 451 FISCAL NOTE
State Agency OR Political Subdivision Name:
(2)
State Treasurer
Prepared by:
(3) Jason Walters Date Prepared:
(4)
January 29, 2025 Phone:
(5)
402-471-2793
ESTIMATE PROVIDED BY STATE AGENCY OR POLITICAL SUBDIVISION
FY 2025-26 FY 2026-27
EXPENDITURES REVENUE EXPENDITURES REVENUE
GENERAL FUNDS
CASH FUNDS
FEDERAL FUNDS
OTHER FUNDS
TOTAL FUNDS
Explanation of Estimate:
The State Treasurer’s Office doesn’t expect any fiscal impact from LB 4 51 to the Treasurer ’s office. However,
the permanent school fund would receive $1,000,000 less in the transfer from the Unclaimed Property Trust
Fund every year between 2025 – 2034 and the Capitol Restoration Cash Fund would receive $1,000,000 more
every year between 2025 – 2034.
_____________________________________________________________________________________________________ _
BREAKDOWN BY MAJOR OBJECTS OF EXPENDITURE
Personal Services:
POSITION TITLE
NUMBER OF POSITIONS
25-26 26-27
2025-26
EXPENDITURES
2026-27
EXPENDITURES
Benefits………………………………...……
Operating…………………………...……….
Travel………………………………………..
Capital outlay…………………...…………..
Aid…………………………………………...
Capital improvements……………………...
TOTAL ………………………………... ..