2001 REGULAR SESSION (71st) A AB567 R1 874
ASSEMBLY ACTION Initial and Date |SENATE ACTION Initial and Date
Adopted Lost | Adopted Lost
Concurred In Not |Concurred In Not
Receded Not | Receded Not
Amend sec. 2, page 1, by deleting sec. 2 and inserting:
“Sec. 2. (Deleted by amendment.)”.
Amend sec. 11, page 2, by deleting lines 34 through 36 and inserting:
“Sec. 11. 1. A state agency may propose a project to acquire real property, an interest in real property or an improvement to real property through an agreement which has a term, including the terms of any options for”.
Amend sec. 11, page 3, by deleting lines 12 through 26 and inserting:
“3. Before an agreement proposed pursuant to subsection 1 may become effective:
(a) The proposed project must be approved by the legislature by concurrent resolution or statute or as part of the budget of the state agency, or by the interim finance committee when the legislature is not in regular session;
(b) The agency must submit the proposed agreement to the chief, the state treasurer and the state land registrar for their review and transmittal to the board;
(c) The board must approve the proposed agreement; and
(d) The governor must execute the agreement.”.
Amend sec. 13, page 3, line 37, after “agreement,” by inserting:
“upon approval of the state board of examiners”.
Amend sec. 14, page 4, by deleting lines 6 through 8 and inserting:
“Sec. 14. Immediately after an agreement is executed pursuant to section 11 of this act, the state agency on whose behalf the agreement was executed shall file with the chief and the state”.
Amend sec. 18, page 5, by deleting sec. 18 and inserting:
“Sec. 18. (Deleted by amendment.)”.
Amend sec. 21, page 7, by deleting lines 17 through 42 and inserting:
“Sec. 21. 1. In addition to the debt authorized in subsection 1 of section 4 of chapter 656, Statutes of Nevada 1995, at page 2530, and notwithstanding the provisions of subsection 2 of section 4 of chapter 656, Statutes of Nevada 1995, at page 2530, the state board of finance may issue general obligation bonds of the State of Nevada in the face amount of not more than $27,971,319, the proceeds of which must be used for refinancing the obligations of this state pursuant to the construction, lease purchase and management services contract between the department of prisons and Corrections Corporation of America that was approved by the state board of examiners on October 14, 1996, and by the board of state prison commissioners on October 14, 1996, and was authorized by section 4 of chapter 656, Statutes of Nevada 1995, at page 2530, including, without limitation, by exercising the prepayment purchase option pursuant to the contract.
2. The expenses related to the issuance of bonds pursuant to this section must be paid from the proceeds of the bonds, and must not exceed 2 percent of the face amount of the bonds sold.
3. The provisions of the State Securities Law, contained in chapter 349 of NRS, apply to the issuance of bonds pursuant to this section.”.
Amend the bill as a whole by renumbering sec. 22 as sec. 23 and adding a new section designated sec. 22, following sec. 21, to read as follows:
“Sec. 22. Assembly Bill No. 601 of this session is hereby repealed.”.
Amend sec. 2, page 7, by deleting lines 43 through 46 and inserting:
“Sec. 23. This act becomes effective upon passage and approval.”.
Amend the bill as a whole by adding the text of the repealed sections, following sec. 22, to read as follows:
“
TEXT OF REPEALED SECTIONS
Section 1. Chapter 353 of NRS is hereby amended by adding thereto a new section to read as follows:
1. Before a state agency or person acting on the behalf of a state agency may enter into a long-term agreement to purchase unimproved real property, improved real property or improvements to real property, the purchase must be approved by the legislature by concurrent resolution or statute or as part of the budget of the state agency, or by the interim finance committee when the legislature is not in regular session.
2. This section does not affect any agreement, including, without limitation, a long-term agreement, to purchase personal property.
3. As used in this section:
(a) “Long-term agreement” means an agreement to purchase property, in the form of a lease or an agreement to pay in installments, pursuant to which the State of Nevada or a state agency may pay the purchase price of the property over a period that extends beyond the biennium in which the agreement is executed, including, without limitation:
(1) An agreement pursuant to which the State of Nevada or a state agency may acquire the property that is the subject of the agreement at the end of the term of the agreement or the end of the term of a renewal of the agreement upon payment of no additional consideration or nominal additional consideration; and
(2) An agreement that, for the purposes of federal income tax, is treated as an agreement for conditional sale.
(b) “State agency” means an agency, bureau, board, commission, department, division or any other unit of the government of this state that is required to submit information to the chief pursuant to subsection 1 or 6 of NRS 353.210.
Sec. 2. This act becomes effective upon passage and approval.”.
Amend the title of the bill to read as follows:
“AN ACT relating to state financial administration; authorizing the purchase of property by a state agency pursuant to a lease-purchase or installment-purchase agreement that extends beyond the current biennium under certain circumstances; allowing the interest on certain state securities to be paid more frequently than semiannually; providing the manner for applying sales and use taxes to personal property transferred to the state pursuant to certain lease-purchase or installment-purchase agreements; authorizing the issuance of general obligation bonds to refinance existing obligations relating to the Southern Nevada Women’s Correctional Facility; and providing other matters properly relating thereto.”.