This section defines key terms used by the act, including critical infrastructure, critical procurement, divestment, investment, Pacific conflict, state-managed fund, state supply chain, and state vendor supply chain.
For purposes of the Pacific Conflict Stress Test Act: (1) Critical infrastructure means systems and assets, whether physical or virtual, so vital to this state or the United States that the incapacity or destruction of such systems and assets would have a debilitating impact on state or national security, state or national economic security, state or national public health, or any combination of such matters. Critical infrastructure may be publicly or privately owned and includes, but is not limited to: (a) Fossil fuel production, storage, or delivery systems; (b) Water supply, refinement, storage, or delivery systems; (c) Telecommunications networks; (d) Electrical power delivery systems, including power generation, transmission, and distribution systems; (e) Emergency services; and (f) Transportation systems and services; (2) Critical procurement means those acquisitions made by the state or any agency of the state that are critical to the proper functioning of critical infrastructure or to the health, safety, or security of the State of Nebraska or the United States; (3) Divestment means the sale, forfeiture, or otherwise contractual end of any current or planned ownership or control of assets; (4) Investment means any transfer of funds into any active or passive, direct or indirect, structure which seeks to generate revenue or accomplish any other gain, including nonmonetary gains; (5)(a) Pacific conflict means a declared war or armed conflict between the United States or any of its allies and another nation that occurs in the land, sea, or air area of the Pacific Ocean and threatens or could reasonably escalate to threaten the supply chains, critical infrastructure, safety, or security of the State of Nebraska or the United States. (b) Pacific conflict includes a serious deterioration of diplomatic ties or economic engagement between the United States or its allies and another nation that threatens the status quo of Pacific trade, travel, and military operations or exercises; (6)(a) State-managed fund means any short-term or long-term investment structure that is state-managed, state-run, state-controlled, or otherwise overseen by the State of Nebraska, a state agency, a political subdivision of this state, or any agency controlled by such a political subdivision. This subdivision shall apply only to any fund that is subject to the purview or direction of the state or applicable political subdivision and is populated, wholly or in part, with state funds, including, but not limited to, any such fund managed by a third-party entity, such as a fiduciary. (b) State-managed fund includes, but is not limited to, public pension funds, public retirement funds, or other state-sponsored funds, that are sponsored, maintained, or contributed to or required to be contributed to by this state or any subsidiary of the state; (7) State supply chain means the end-to-end process for shipping goods, purchased by the state, to the State of Nebraska, beginning at the point of origin through a point or points of distribution to the destination; and (8) State vendor supply chain means the end-to-end process for shipping goods, purchased by the state from state vendors, to the vendors, beginning at the point of origin through a point or points of distribution to the destination. History: Laws 2024, LB1300, § 3.