Tag Archives: budget

Today a new bill was introduced in the Assembly. AB4 Revises the formula for determining the tax on the net proceeds of minerals extracted. The bill lowers the level of deductions that the state’s mining industry can take to reduce their taxable sales, a measure that could bring $54.7 million more into the general fund. The bill was […]

Today in a late notice press conference, Governor Sisolak announced that bars in certain Nevada counties must close as of 11:59 p.m. Friday, July 10, to help stem the spread of COVID-19 in Nevada.  The State Department of Health and Human Services is currently confirming the criteria that would designate a county in Nevada as a hotspot. Tomorrow, the Governor will release […]

Today, Governor Sisolak released the Nevada COVID-19 Fiscal Report and details about the Fiscal Year 2021 budget ahead of the Nevada Legislative Special Session, which is planned for Wednesday, July 8.   The proposals submitted to the legislature include, but are not limited to:  Over $500 million in reductions to agency budgets  Reductions in one-time appropriations   Reversions from the IFC restricted contingency funds  Transfers from other funds to […]

Today, Governor Sisolak announced that he is planning to begin a special session to address the State’s Fiscal Year 2021 budget on Wednesday, July 8. The planned date of the session was determined after coordinating with legislative leadership.  From today’s press release: “The formal proclamation to convene a special session of the Nevada State Legislature will be issued by the Governor’s Office at a later date. The […]

The Interim Finance Committee met today to discuss Governor Sisolak’s plan to cover the $812 million deficit in the state’s budget. It includes about $88 million in cuts to state agencies and one- time appropriations. More details will be heard about the plan at the next IFC meeting that is scheduled for June 25th.  The initial […]

Governor Sisolak made several announcements today. The first was the distribution of CARES Act funding to local governments to assist with COVID-19 expenses. The funds will help counties and cities recuperate expenses already incurred related to the COVID-19 pandemic and will help pay for eligible expenses going forward as the State continues to recover from the impacts of this pandemic.   The full press release can be […]

The Interim Finance Committee met today and voted to transfer the state’s “Rainy Day Fund” to the General Fund to help with budget shortfalls. The vote was along party lines, and Speaker Frierson and Chairwoman Carlton said that this was necessary to get money to those that need it, as well as to pay for […]