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 the bill as a whole by renumbering sec. 2 as sec. 3 and adding a new section designated sec. 2, following section 1, to read as follows:
“Sec. 2. 1. The Board shall, on a monthly basis, transfer money from the Account to the State General Fund in an amount up to the level of expenditures approved in the final budget of the System for the applicable fiscal year. Except as otherwise provided in this subsection and subsection 2, the amount of money transferred each month must be:
(a) For Fiscal Year 2003-2004, $3,819,713, until the total amount of money transferred for all 12 months in the fiscal year is $45,836,551.
(b) For Fiscal Year 2004-2005, $3,616,525, until the total amount of money transferred for all 12 months in the fiscal year is $43,398,297.
FLUSH
A monthly transfer described in this section must not be made
to the extent that making the transfer would result in a negative balance in
the Account.
2. If the amount of money in the Account is not, for a given month, sufficient to allow the full amount of the transfer scheduled for that month, as described in subsection 1, any money that subsequently becomes available in the Account must first be applied to complete the full amount of the transfer scheduled for that month, as described in subsection 1.
3. If, at the end of Fiscal Year 2004-2005, the total amount transferred from the Account to the State General Fund pursuant to this section has not reached the total amount of $89,234,848 that is scheduled to be transferred pursuant to subsection 1 during both Fiscal Year 2003-2004 and Fiscal Year 2004-2005 combined, the Board shall continue to make transfers from the Account to the State General Fund in subsequent fiscal years until the total amount transferred equals $89,234,848, subject to the continued availability of estate tax revenues.
4. As used in this section:
(a) “Account” means the Estate Tax Account in the Endowment Fund of the University and Community College System of Nevada.
(b) “Board” means the Board of Regents of the University of Nevada.
(c) “System” means the University and Community College System of Nevada.”.
Amend the title of the bill, fourth line, after “Nevada;” by inserting:
“requiring the Board of Regents of the University of Nevada to make certain transfers of money from the Account to the State General Fund;”.