For Immediate Release: My Personal Bills for 2009

March 13, 2009, Lincoln— Last month I reported that I introduced 15 bills this year. Nine of the 15 are my personal bills. Six of my personal bills were introduced at the request of a District 2 constituent or on behalf of an organization that serves the District.

In 2008 I introduced a bill to amend the Securities Act of Nebraska. The proposed changes resulted from a situation that started in District 2 and spread to other parts of southeast Nebraska, western Iowa and throughout the country. Many individuals lost millions of dollars collectively as victims of misleading investment advice and probably outright fraud. As the legislative representative for District 2, I contacted the Nebraska Department of Banking and Finance to discuss its investigation of this matter. I asked the Department to suggest statutory changes that would improve its ability to respond to any similar situation in the future. The bill was not advanced by the Banking, Commerce and Insurance Committee last year.

My strong belief in the need to protect Nebraska investors caused me to work on this issue over the interim last year. I collaborated again with the Department of Banking to prepare and introduce LB 113. This bill would make two key changes to the Securities Act. LB 113 would make it unlawful to tamper with evidence, or to obstruct an investigation or other proceeding under the Act. It would also authorize the Department to petition a court for equitable action against a person, not just a firm, who violates the Act. Such action could include, but not be limited to, restitution and a freezing of assets. Generally, I am not an advocate for more government regulation and expanded powers, but, when Nebraskans suffer significant or total loss of their invested money, I think that laws should exist to enable the state to protect its citizens. The Banking, Commerce and Insurance Committee added an emergency clause to LB 113 and advanced it for floor debate. The emergency clause will require more votes to pass the bill in the final round of debate, but it will allow the proposed changes to become law as soon as the bill is signed by the governor.

A constituent called my office last year to express his desire to expand his service to education in his community and report that our laws do not support his plan. The individual in question works as a substitute teacher and would like to serve on his local school board. Current law allows each school district to set its own policy regarding this issue. In one district a non-contracted substitute teacher would be allowed to serve on his or her school board, but in a neighboring district a non-contracted substitute teacher would be denied the opportunity to serve. The potential for a conflict of interest may be the justification used by some districts to prevent the substitute from being a school board member. The current law is somewhat inconsistent, because it allows the spouse of a contracted teacher or school administrator to serve on their school board, even though they have might have an even greater potential for a conflict of interest than does a non-contracted substitute teacher. I introduced LB 163 to allow non-contracted teachers to serve on their local school board. The constituent who brought this issue to me testified at the public hearing on LB 163, and the Legislature’s Education Committee advanced the bill for debate by the Legislature.

I am fortunate to have two Heritage Nebraska Main Street communities in my legislative district, so I have been able to see the all-encompassing approach that the Main Street Program uses to inspire and guide local residents to strengthen, enhance and promote their community. The Program receives state funds and matches them with grants and donations. Last year and again this year, I was honored to be asked by the Program to introduce its appropriations request. Shortly after LB 182 was introduced, the Program learned that its state funding was included in the biennial budget proposal from the Department of Economic Development and in the Appropriations Committee’s Preliminary Budget. This week the Committee held its hearing on LB 182. The bill served to emphasize the importance of maintaining the funding for Heritage Nebraska Main Street in the Committee’s final budget that will be presented in April.

I appreciate the opportunity you have given me to represent

District 2 in the Nebraska Legislature.

Senator Dave Pankonin

 State Capitol

PO Box 94604

Lincoln, NE 68509

(402) 471-2613

dpankonin@leg.ne.gov