Change provisions relating to unclaimed property proceeds and funds and a statute of limitations

LB 1074 updates Nebraska's unclaimed property laws by extending the statute of limitations for the State Treasurer to pursue unclaimed funds (from seven years after a report, with tolling during examinations or voluntary disclosure agreements) and creating two new trust funds: the Unclaimed Property Trust Fund for general unclaimed property and the Unclaimed Property Liquidation Proceeds Trust Fund for sale proceeds. The bill mandates annual transfers of excess funds ($1 million or more) from the Unclaimed Property Trust Fund to the permanent school fund, with specific rules for 2026-2035 requiring the first $1 million to also go to the Capitol Restoration Cash Fund. These changes clarify how the State Treasurer manages unclaimed property, handles owner information (with strict confidentiality rules), and processes fund transfers, directly affecting holders (e.g., banks, insurers) and owners of abandoned property.