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).

1-1 Section 1. NRS 372.780 is hereby amended to read as follows:

1-2 372.780 1. All fees, taxes, interest and penalties imposed and all

1-16 fund;

2-1 (b) For the fiscal year that begins on July 1, 2000, the department

2-2 shall deposit 80 percent of the payments in the state treasury to the credit

2-3 of the sales and use tax account in the state general fund and 20 percent

2-4 of the payments in the state treasury to the credit of the state highway

2-5 fund;

2-6 (c) For the fiscal year that begins on July 1, 2001, the department shall

2-7 deposit 70 percent of the payments in the state treasury to the credit of the

2-8 sales and use tax account in the state general fund and 30 percent of the

2-9 payments in the state treasury to the credit of the state highway fund;

2-10 (d) For the fiscal year that begins on July 1, 2002, the department

2-11 shall deposit 60 percent of the payments in the state treasury to the credit

2-12 of the sales and use tax account in the state general fund and 40 percent

2-13 of the payments in the state treasury to the credit of the state highway

2-14 fund;

2-15 (e) For the fiscal year that begins on July 1, 2003, the department shall

2-16 deposit 50 percent of the payments in the state treasury to the credit of the

2-17 sales and use tax account in the state general fund and 50 percent of the

2-18 payments in the state treasury to the credit of the state highway fund;

2-19 (f) For the fiscal year that begins on July 1, 2004, the department shall

2-20 deposit 40 percent of the payments in the state treasury to the credit of the

2-21 sales and use tax account in the state general fund and 60 percent of the

2-22 payments in the state treasury to the credit of the state highway fund;

2-23 (g) For the fiscal year that begins on July 1, 2005, the department

2-24 shall deposit 30 percent of the payments in the state treasury to the credit

2-25 of the sales and use tax account in the state general fund and 70 percent

2-26 of the payments in the state treasury to the credit of the state highway

2-27 fund;

2-28 (h) For the fiscal year that begins on July 1, 2006, the department

2-29 shall deposit 20 percent of the payments in the state treasury to the credit

2-30 of the sales and use tax account in the state general fund and 80 percent

2-31 of the payments in the state treasury to the credit of the state highway

2-32 fund;

2-33 (i) For the fiscal year that begins on July 1, 2007, the department shall

2-34 deposit 10 percent of the payments in the state treasury to the credit of the

2-35 sales and use tax account in the state general fund and 90 percent of the

2-36 payments in the state treasury to the credit of the state highway fund; and

2-37 (j) Every fiscal year thereafter, the department shall deposit the entire

2-38 amount of the payments in the state treasury to the credit of the state

2-39 highway fund.

2-40 Sec. 2. NRS 372.785 is hereby amended to read as follows:

2-41 372.785 1. The money in the sales and use tax account may, upon

2-43 chapter.

3-1 2. The money in the state highway fund deposited pursuant to

3-2 subsection 3 of NRS 372.780 may, as applicable and upon order of the

3-3 state controller, be used for refunds pursuant to this chapter.

3-4 Sec. 3. This act becomes effective upon passage and approval.