EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

Whereas, In 1997, the Federal Government, the States of Nevada and

2-1 Section 1. 1. The Administrator of the Division of State Lands of

2-2 the State Department of Conservation and Natural Resources shall

2-3 establish a program for the protection of the Lake Tahoe Basin, including,

2-4 without limitation:

2-5 (a) The protection and enhancement of the quality of the air and water;

2-6 (b) The protection and restoration of natural watercourses, wetlands,

2-7 wildlife habitat, fisheries, vegetation and forests;

2-8 (c) Prevention and control of erosion; and

2-9 (d) Enhancement of recreational and tourism opportunities,

2-10 in the Lake Tahoe Basin.

2-11 2. Money to carry out the program in an amount not to exceed

2-12 $56,400,000 must be provided for the period between the fiscal year

2-13 beginning on July 1, 1999, and the fiscal year ending on June 30, 2007, by

2-14 the issuance by the State Board of Finance of general obligation bonds of

2-15 the State of Nevada in a total face amount of not more than $56,400,000.

3-1 The bonds may be issued from time to time pursuant to a schedule

3-2 established by the Administrator of the Division of State Lands. The

3-3 provisions of NRS 349.150 to 349.364, inclusive, apply to the issuance of

3-4 bonds pursuant to this subsection.

3-5 3. The amount of bonds authorized by subsection 2 must be reduced

3-6 by the amount of any money appropriated by the Legislature for the same

3-7 purpose upon certification by the Administrator of the Division of State

3-8 Lands of the amount of each such appropriation to the State Board of

3-9 Finance. The Administrator of the Division of State Lands shall submit a

3-10 request to the Legislature each biennium, as necessary, for an

3-11 appropriation for the program.

3-12 4. The Administrator of the Division of State Lands may adopt such

3-13 regulations as are necessary to carry out the program.

3-14 Sec. 2. 1. The fund to protect the Lake Tahoe Basin is hereby

3-15 created in the state general fund. The Administrator of the Division of

3-16 State Lands shall administer the fund.

3-17 2. All money that is collected for the use of the program established

3-18 pursuant to section 1 of this act, including, without limitation, an

3-19 appropriation made by the Legislature and the proceeds of any bonds

3-20 issued pursuant to section 1 of this act, after deducting any applicable

3-21 charges, must be deposited in the fund.

3-22 3. Any interest or income earned on the money in the fund must be

3-23 credited to the fund. Any money remaining in the fund at the end of the

3-24 fiscal year does not lapse to the state general fund but must be carried over

3-25 into the next fiscal year.

3-26 4. All claims against the fund must be paid as other claims against the

3-27 state are paid.

3-28 5. The Administrator of the Division of State Lands may use the

3-29 proceeds from any bonds issued pursuant to section 1 of this act or may

3-30 request an appropriation to defray the costs of administering the program if

3-31 the money in the fund is not sufficient.

3-32 6. The Administrator of the Division of State Lands shall report

3-33 semiannually to the Interim Finance Committee concerning the

3-34 establishment and administration of the program and the expenditure of

3-35 money from the fund for the program.

3-36 Sec. 3. The Administrator of the Division of State Lands may issue

3-37 grants to state agencies and local governments to carry out the program

3-38 established pursuant to section 1 of this act. The Administrator shall adopt

3-39 such regulations as are necessary for awarding the grants. The regulations

3-40 must:

3-41 1. Set forth the procedure for applying for a grant;

3-42 2. Set forth the criteria that will be considered in awarding a grant; and

4-1 3. State whether and the extent to which an applicant must match any

4-2 money awarded.

4-3 Sec. 4. The Legislature finds and declares that the issuance of

4-4 securities and the incurrence of indebtedness pursuant to this act:

4-5 1. Are necessary for the protection and preservation of the natural

4-6 resources of this state and for the purpose of obtaining the benefits thereof;

4-7 and

4-8 2. Constitute an exercise of the authority conferred by the second

4-9 paragraph of section 3 of article 9 of the Constitution of the State of

4-10 Nevada.

4-11 Sec. 5. This act becomes effective on July 1, 1999.