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LEGISLATURE OF NEBRASKA
ONE HUNDRED NINTH LEGISLATURE
SECOND SESSION
LEGISLATIVE BILL 885
Introduced by Andersen, 49; Bostar, 29; Holdcroft, 36; Kauth, 31.
Read first time January 08, 2026
Committee: Nebraska Retirement Systems
A BILL FOR AN ACT relating to the state investment officer; to amend1
section 72-1240, Reissue Revised Statutes of Nebraska; to change how2
the state investment officer may be removed from office; and to3
repeal the original section. 4
Be it enacted by the people of the State of Nebraska,5
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Section 1. Section 72-1240, Reissue Revised Statutes of Nebraska, is1
amended to read: 2
72-1240 The council shall appoint a state investment officer. The3
appointment shall be subject to the approval of the Governor and a4
majority of the Legislature. The state investment officer shall be a5
person well qualified by training to administer and invest the money6
available for investment, and he or she shall have at least five years of7
experience in the management of investment portfolios. The state8
investment officer's salary shall be fixed by the council at not less9
than twenty-five thousand dollars per year. The state investment officer10
shall serve without term and may be removed for cause by the council or11
the Governor. 12
Sec. 2. Original section 72-1240, Reissue Revised Statutes of13
Nebraska, is repealed. 14
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