The Community College State Dependents Fund is created. The fund shall be used to reimburse tuition expenses for dependents of Nebraska state employees enrolled in one of the state's six community colleges. The Department of Administrative Services shall administer the fund through the benefits administration program. The fund shall consist of transfers authorized by the Legislature and any gifts, grants, or bequests for such purposes from any source, including federal, state, public, and private sources. Transfers may be made from the fund to the General Fund at the direction of the Legislature. Any money in the Community College State Dependents Fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.
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