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NE LB885
Bill
Status
1/8/2026
Primary Sponsor
Bob Andersen
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AI Summary
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Amends Section 72-1240 of the Reissue Revised Statutes of Nebraska to modify removal procedures for the state investment officer
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Removes the requirement that the state investment officer can only be removed "for cause," allowing removal without stated justification
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Grants the Governor independent authority to remove the state investment officer, in addition to the council's existing removal power
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State investment officer position continues to serve without a fixed term and requires appointment by the council with approval from the Governor and a majority of the Legislature
Legislative Description
Allow the Governor to remove the state investment officer from office and eliminate the need for cause for removal of the state investment officer
Last Action
Notice of hearing for February 27, 2026
2/11/2026