CHAPTER........
AN ACT relating to taxation; providing for the review and adjustment of the amount
allocated to certain governmental entities from the local government tax distribution
account; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. Chapter 360 of NRS is hereby amended by adding thereto a
new section to read as follows:
1. If the population and assessed valuation of the taxable property,
except any assessed valuation attributable to the net proceeds of
minerals, within a local government or special district has decreased in
each of the 3 fiscal years immediately preceding the current fiscal year,
the executive director shall review the amount allocated to the local
government or special district from the account pursuant to NRS
360.680, to determine whether to adjust the allocation. The local
government or special district may submit information to assist the
executive director in making a determination. If the executive director
determines that an adjustment to the allocation of the local government
or special district is necessary, the executive director shall submit his
findings on the matter to the committee on local government finance.
2. The committee on local government finance shall review the
findings submitted by the executive director pursuant to subsection 1. If
the committee determines that an adjustment to the amount allocated to
the local government or special district pursuant to NRS 360.680 is
appropriate, the committee shall submit a recommendation to the Nevada
tax commission that sets forth the amount of the recommended
adjustment. If the committee determines that the adjustment is not
appropriate, that decision is not subject to review by the Nevada tax
commission.
3. The Nevada tax commission shall schedule a public hearing
within 30 days after the committee on local government finance submits
its recommendation. The Nevada tax commission shall provide public
notice of the hearing at least 10 days before the date on which the
hearing will be held. The executive director shall provide copies of all
documents relevant to the adjustment recommended by the committee on
local government finance to the governing body of each local
government and special district that is located in the same county as the
local government or special district that is subject to the recommended
adjustment.
4. If, after the public hearing, the Nevada tax commission
determines that the recommended adjustment is appropriate, it shall
order the executive director to adjust the amount allocated to the local
government or special district pursuant to NRS 360.680.
NRS 360.600 is hereby amended to read as follows: