81-1801.02 Community Trust; authorized; powers and duties; create separate funds; distribution committee. - Nebraska Statutes

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Statutes > Nebraska > Chapter81 > 81-1801_02

81-1801.02. Community Trust; authorized; powersand duties; create separate funds; distribution committee.(1) A nonprofit organization,to be known as the Community Trust, may be created. After a tragedy, the CommunityTrust shall accept contributions from the public, manage such funds, and makedistributions to help individuals, families, and communities in Nebraska whohave suffered from a tragedy of violence or natural disaster. The committeeshall oversee the Community Trust. The committee shall require at least annualreports from the Community Trust.(2) The CommunityTrust shall be a qualified organization under section 501(c)(3) of the InternalRevenue Code thereby enabling contributions to the Community Trust to be taxdeductible for the donor if the donor itemizes deductions for income tax purposesand distributions to be tax-free to the extent allowed under applicable sectionsof the Internal Revenue Code. The Community Trust shall create a separatefund for each tragedy and shall begin accepting contributions immediatelyafter a tragedy. A report of distributions shall be made within two weeksafter the distribution, and contributions shall be acknowledged within twoweeks after receipt.(3) The procedures for applications, hearings, and compensation ordersfor victims shall follow the procedures in the Nebraska Crime Victim's ReparationsAct, as applicable, unless the board of directors of the Community Trust createsan alternative procedure. In any alternative procedure, the Community Trustshall establish a distribution committee for the tragedy within one week afterthe tragedy, establish eligible recipient criteria and eligible uses of thefund, begin initial distribution of the fund within three weeks after thetragedy, make subsequent distributions within three months after the tragedy,and complete all distributions within six months after the tragedy. SourceLaws 2009, LB598, § 1.

State Codes and Statutes

Statutes > Nebraska > Chapter81 > 81-1801_02

81-1801.02. Community Trust; authorized; powersand duties; create separate funds; distribution committee.(1) A nonprofit organization,to be known as the Community Trust, may be created. After a tragedy, the CommunityTrust shall accept contributions from the public, manage such funds, and makedistributions to help individuals, families, and communities in Nebraska whohave suffered from a tragedy of violence or natural disaster. The committeeshall oversee the Community Trust. The committee shall require at least annualreports from the Community Trust.(2) The CommunityTrust shall be a qualified organization under section 501(c)(3) of the InternalRevenue Code thereby enabling contributions to the Community Trust to be taxdeductible for the donor if the donor itemizes deductions for income tax purposesand distributions to be tax-free to the extent allowed under applicable sectionsof the Internal Revenue Code. The Community Trust shall create a separatefund for each tragedy and shall begin accepting contributions immediatelyafter a tragedy. A report of distributions shall be made within two weeksafter the distribution, and contributions shall be acknowledged within twoweeks after receipt.(3) The procedures for applications, hearings, and compensation ordersfor victims shall follow the procedures in the Nebraska Crime Victim's ReparationsAct, as applicable, unless the board of directors of the Community Trust createsan alternative procedure. In any alternative procedure, the Community Trustshall establish a distribution committee for the tragedy within one week afterthe tragedy, establish eligible recipient criteria and eligible uses of thefund, begin initial distribution of the fund within three weeks after thetragedy, make subsequent distributions within three months after the tragedy,and complete all distributions within six months after the tragedy. SourceLaws 2009, LB598, § 1.

State Codes and Statutes

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State Codes and Statutes

Statutes > Nebraska > Chapter81 > 81-1801_02

81-1801.02. Community Trust; authorized; powersand duties; create separate funds; distribution committee.(1) A nonprofit organization,to be known as the Community Trust, may be created. After a tragedy, the CommunityTrust shall accept contributions from the public, manage such funds, and makedistributions to help individuals, families, and communities in Nebraska whohave suffered from a tragedy of violence or natural disaster. The committeeshall oversee the Community Trust. The committee shall require at least annualreports from the Community Trust.(2) The CommunityTrust shall be a qualified organization under section 501(c)(3) of the InternalRevenue Code thereby enabling contributions to the Community Trust to be taxdeductible for the donor if the donor itemizes deductions for income tax purposesand distributions to be tax-free to the extent allowed under applicable sectionsof the Internal Revenue Code. The Community Trust shall create a separatefund for each tragedy and shall begin accepting contributions immediatelyafter a tragedy. A report of distributions shall be made within two weeksafter the distribution, and contributions shall be acknowledged within twoweeks after receipt.(3) The procedures for applications, hearings, and compensation ordersfor victims shall follow the procedures in the Nebraska Crime Victim's ReparationsAct, as applicable, unless the board of directors of the Community Trust createsan alternative procedure. In any alternative procedure, the Community Trustshall establish a distribution committee for the tragedy within one week afterthe tragedy, establish eligible recipient criteria and eligible uses of thefund, begin initial distribution of the fund within three weeks after thetragedy, make subsequent distributions within three months after the tragedy,and complete all distributions within six months after the tragedy. SourceLaws 2009, LB598, § 1.