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The Legislature began full-day sessions this past week, debating and advancing numerous bills. Among them was LB 137, which would adopt the Unclaimed Life Insurance Benefits Act. The act requires life insurance companies to compare its insureds with the Death Master File of the U.S. Social Security Administration to identify possible matches and determine whether benefits are due. The insurance companies would be required to try to locate the beneficiary and provide them with instructions on how to make a claim.
People usually purchase a life insurance policy as a means to provide money to family members when they die. However, the family members aren’t always aware of the existence of the policy. Sometimes companies can’t locate the beneficiaries but this isn’t always the case. Insurance officials estimate at least $1 billion in life insurance benefits are unclaimed nationally. More than twenty states have enacted similar legislation to LB 137. I believe it is time that Nebraska joined the ranks, so I signed on as a co-sponsor of the bill. LB 137 received first-round approval on a 31-0 vote.
LB 487 was given initial approval by the Legislature on a 35-4 vote. It proposes to change penalties for persons experiencing or witnessing a drug overdose if they request emergency medical assistance for themselves or another person. For the exemption from charges for possession of a controlled substance to apply, the person must be the first to request assistance, must remain on the scene until help arrives and must cooperate with emergency personnel. LB 487 is similar to legislation passed a couple of years ago that protected minors who called for help for friends experiencing alcohol poisoning.
A bill that was amended into LB 487 through the Judiciary Committee amendments was LB 167. This bill proposes to reschedule cannabidiol in a drug product approved by the FDA into Schedule V of the Nebraska Controlled Substances Act. Currently, cannabidiol (known as CBD) in any form is a Schedule I Controlled Substance with a high potential for abuse and no approved medical use. CBD can be referred to as the “medical part” of the marijuana plant, which is different from THC, the “recreational part” of the plant that gets a person high.
Later this year, CBD in a pharmaceutical formulation will be submitted to the FDA for approval. The drug, called Epidiolex, is an investigational product being studied as a potential anti-convulsive treatment for children with certain types of epilepsy. LB 167 allows Nebraska to proactively reschedule CBD in an FDA approved product, ensuring it will be available to patients in Nebraska as soon as rescheduling by the DEA on the federal level is complete.
The Revenue Committee is continuing to work on a package for tax relief that will be sent to the full Legislature for debate. It appears that it may include an income tax relief provision, which would commit future revenue for this purpose. Therefore, senators who believe that property tax relief needs to be the priority may not be able to support the package. I am disappointed in the direction this legislation is going.
Again, I encourage you to contact me with your thoughts and opinions on legislation that is being discussed by senators. I can be reached at District #1, P.O. Box 94604, State Capitol, Lincoln, Nebraska 68509. My telephone number is (402) 471-2733 and my email address is firstname.lastname@example.org.