NE LB264

Directs over $150 million in transfers from various state cash funds to the General Fund before June 30, 2026, including $32.7 million from the Water Recreation Enhancement Fund, $15 million from the Economic Recovery Contingency Fund, and $8.25 million from the State Insurance Fund

Terminates several programs effective June 30, 2025: the Economic Opportunity Program (transportation improvements for business development), the Customized Job Training Act, the Small Business Assistance Act, and a pilot program for patients with complex health needs

Modifies the Nebraska Transformational Projects Act by removing the requirement that projects be selected for a federal program under Public Law 116-92, expanding eligible investments to include funding from any source for real property improvements and equipment, and extending the application deadline to January 31, 2026

Transfers $50 million from the Nebraska Tobacco Settlement Trust Fund to the Nebraska Transformational Project Fund in each of fiscal years 2025-26 and 2026-27, and authorizes up to $300 million total in matching funds for qualifying transformational projects

Changes special education reimbursement from a fixed 80% rate to a pro rata basis determined by available appropriations, with any shortfall to be paid from the Education Future Fund, and eliminates the 10% annual increase floor for special education appropriations