Senate Bill No. 198–Committee on Finance

 

(On Behalf of the Legislative Counsel)

 

February 24, 2003

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Referred to Committee on Finance

 

SUMMARY—Clarifies provision governing advances to budget accounts supported by administrative assessments. (BDR 31‑604)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to state financial administration; clarifying a provision governing advances to budget accounts supported by administrative assessments; requiring the Director of the Department of Administration to give certain notices concerning such advances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1  Section 1. NRS 353.359 is hereby amended to read as follows:

1-2  353.359  1.  The State Controller shall draw his warrant, upon

1-3  application by an agency responsible for the administration of an

1-4  account which is wholly or partially supported by administrative

1-5  assessments pursuant to NRS 176.059, for not more in the

1-6  aggregate in any fiscal year than 1/12th [in any month] of the

1-7  portion of the total money received in the previous year which

1-8  represents the share of administrative assessments presently

1-9  allocated to the account.

1-10      2.  An agency shall not apply for an advance pursuant to

1-11  subsection 1 unless the application is first approved by the Director

1-12  of the Department of Administration.

2-1  3.  Any money which is advanced from the State General Fund

2-2  to an account pursuant to subsection 1[,] must be repaid as soon as

2-3  the money which the advance replaced is deposited in the account.

2-4  If the money deposited in the account in any fiscal year is

2-5  insufficient to pay back the money advanced, an amount equal to the

2-6  shortfall is hereby contingently appropriated from the State General

2-7  Fund to the account.

2-8  4.  The Director of the Department of Administration shall

2-9  notify the Fiscal Analysis Division of the Legislative Counsel

2-10  Bureau if:

2-11      (a) He approves an advance pursuant to subsection 2.

2-12      (b) The money deposited in an account in any fiscal year is

2-13  insufficient to pay back the money advanced pursuant to

2-14  subsection 1.

2-15      Sec. 2.  This act becomes effective upon passage and approval.

 

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