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 463.385 is hereby amended to read as follows:

1-2 463.385 1. In addition to any other license fees and taxes imposed by

1-16 collected.

2-1 3. Any other person, including, without limitation, an operator of an

2-2 inter-casino linked system, who is authorized to receive a share of the

2-3 revenue from any slot machine that is operated on the premises of a

2-4 licensee is liable to the licensee for that person’s proportionate share of the

2-5 license fees paid by the licensee pursuant to this section and shall remit or

2-6 credit the full proportionate share to the licensee on or before the dates set

2-7 forth in subsection 2. A licensee is not liable to any other person authorized

2-8 to receive a share of the licensee’s revenue from any slot machine that is

2-9 operated on the premises of a licensee for that person’s proportionate share

2-10 of the license fees to be remitted or credited to the licensee by that person

2-11 pursuant to this section.

2-12 4. The commission shall pay over the tax as collected to the state

2-13 treasurer to be deposited to the credit of the state distributive school

2-14 account in the state general fund, and the capital construction fund for

2-15 higher education and the special capital construction fund for higher

2-16 education, which are hereby created in the state treasury as special revenue

2-17 funds, in the amounts and to be expended only for the purposes specified in

2-18 this section.

2-19 5. During each fiscal year , the state treasurer shall deposit the tax paid

2-20 over to him by the commission as follows:

2-21 (a) The first $5,000,000 of the tax in the capital construction fund for

2-22 higher education;

2-23 (b) Twenty percent of the tax in the special capital construction fund for

2-24 higher education; and

2-25 (c) The remainder of the tax in the state distributive school account in

2-26 the state general fund.

2-27 6. There is hereby appropriated from the balance in the special capital

2-28 construction fund for higher education on July 31 of each year the amount

2-29 necessary to pay the principal and interest due in that fiscal year on the

2-30 bonds issued pursuant to section 5 of chapter 679, Statutes of Nevada 1979,

2-31 as amended by chapter 585, Statutes of Nevada 1981, at page 1251, the

2-32 bonds authorized to be issued by section 2 of chapter 643, Statutes of

2-33 Nevada 1987, at page 1503, the bonds authorized to be issued by section 2

2-34 of chapter 614, Statutes of Nevada 1989, at page 1377, the bonds

2-35 authorized to be issued by section 2 of chapter 718, Statutes of Nevada

2-36 1991, at page 2382, and the bonds authorized to be issued by section 2 of

2-37 chapter 629, Statutes of Nevada 1997, at page 3106. If in any year the

2-38 balance in that fund is not sufficient for this purpose, the remainder

2-39 necessary is hereby appropriated on July 31 from the capital construction

2-40 fund for higher education. The balance remaining unappropriated in the

2-41 capital construction fund for higher education on August 1 of each year and

2-42 all amounts received thereafter during the fiscal year must be transferred to

2-43 the state general fund for the support of higher education. If bonds

3-1 described in this subsection are refunded and if the amount required to pay

3-2 the principal of and interest on the refunding bonds in any fiscal year

3-3 during the term of the bonds is less than the amount that would have been

3-4 required in the same fiscal year to pay the principal of and the interest on

3-5 the original bonds if they had not been refunded, there is appropriated to

3-6 the University and Community College System of Nevada an amount

3-7 sufficient to pay the principal of and interest on the original bonds, as if

3-8 they had not been refunded. The amount required to pay the principal of

3-9 and interest on the refunding bonds must be used for that purpose from the

3-10 amount appropriated. The amount equal to the saving realized in that fiscal

3-11 year from the refunding must be used by the University and Community

3-12 College System of Nevada to defray, in whole or in part, the expenses of

3-13 operation and maintenance of the facilities acquired in part with the

3-14 proceeds of the original bonds.

3-15 7. After the requirements of subsection 6 have been met for each fiscal

3-16 year, when specific projects are authorized by the legislature, money in the

3-17 capital construction fund for higher education and the special capital

3-18 construction fund for higher education must be transferred by the state

3-19 controller and the state treasurer to the state public works board for the

3-20 construction of capital improvement projects for the University and

3-21 Community College System of Nevada, including, but not limited to,

3-22 capital improvement projects for the community colleges of the University

3-23 and Community College System of Nevada. As used in this subsection,

3-24 "construction" includes, but is not limited to, planning, designing, acquiring

3-25 and developing a site, construction, reconstruction, furnishing, equipping,

3-26 replacing, repairing, rehabilitating, expanding and remodeling. Any money

3-27 remaining in either fund at the end of a fiscal year does not revert to the

3-28 state general fund but remains in those funds for authorized expenditure.

3-29 8. The money deposited in the state distributive school account in the

3-30 state general fund under this section must be apportioned as provided in

3-31 NRS 387.030 among the several school districts of the state at the times

3-32 and in the manner provided by law.

3-33 9. The board of regents of the University of Nevada may use any

3-34 money in the capital construction fund for higher education and the special

3-35 capital construction fund for higher education for the payment of interest

3-36 and amortization of principal on bonds and other securities, whether issued

3-37 before, on or after July 1, 1979, to defray in whole or in part the costs of

3-38 any capital project authorized by the legislature.

3-39 Sec. 2. NRS 463.660 is hereby amended to read as follows:

3-40 463.660 1. The commission shall charge and collect from each

3-42 (a) For the issuance or renewal of a manufacturer’s license, $1,000.

4-1 (b) For the issuance or renewal of a seller’s or distributor’s license,

4-2 $500.

4-3 2. All licenses must be issued for the calendar year beginning on

4-4 January 1 and [expire] expiring on December 31. If the operation is

4-5 continuing, the commission shall charge and collect the fee prescribed by

4-6 subsection 1 on or before December 31 for the ensuing calendar year.

4-7 Regardless of the date of application or issuance of the license, the fee to be

4-8 charged and collected under this section is the full annual fee.

4-9 3. All license fees collected pursuant to this section must be paid over

4-10 immediately to the state treasurer to be deposited to the credit of the state

4-11 general fund.

4-12 Sec. 3. This act becomes effective upon passage and approval.