NRS 354.721 – Severe financial emergency: Creation of Severe Financial Emergency Fund; investment and use of money in Fund; requirements relating to loans from Fund.
1. The Severe Financial Emergency Fund is hereby created in the State Treasury as a revolving fund. The Executive Director shall administer the Fund. 2. The money in the Fund must be invested as other state funds are invested. Any interest and income earned on the money in the Fund must, after deducting any applicable […]
NRS 354.655 – Definitions.
As used in NRS 354.655 to 354.725, inclusive, unless the context requires otherwise: 1. “Basic function” means an activity of a local government for the purpose of accomplishing a primary service or function of the local government, including, without limitation, those services and functions relating to general governance, public safety, public works, public health, public […]
NRS 354.657 – Purpose; liberal construction.
1. The purpose of NRS 354.655 to 354.725, inclusive, is to: (a) Restore and maintain the financial solvency of any local government in financial distress; (b) Provide basic functions for which a local government in financial distress is responsible; and (c) Provide a tiered program of financial oversight and assistance by the State based on […]
NRS 354.665 – Delinquent documents: Notification; explanation to Committee on Local Government Finance; withholding of payments.
1. If a local government does not file a statement, report or other document as required by the provisions of NRS 350.013, 354.5945, 354.6015, 354.6025, 354.624, 354.6245 or 387.303 within 15 days after the day on which it was due, the Executive Director shall notify the governing body of the local government in writing that […]
NRS 354.671 – Delinquent payments to Public Employees’ Benefits Program: Notification; explanation to Committee on Local Government Finance; withholding of payments.
1. Upon receipt of notification by the Board of the Public Employees’ Benefits Program pursuant to NRS 287.0434 that a local government is delinquent by more than 90 days on an amount due to the Public Employees’ Benefits Program pursuant to paragraph (b) of subsection 4 of NRS 287.023, the Executive Director shall notify the […]
NRS 354.675 – Technical financial assistance from Department of Taxation: Request; notice and hearing; order; request by Department for assistance of Committee on Local Government Finance; allocation from Contingency Account.
1. If the Department determines that one or more of the conditions identified in paragraphs (a) to (aa), inclusive, of subsection 2 of NRS 354.685 exist in a local government, and after giving consideration to the severity of each such condition, the Department shall provide written notice to the local government, the Commission and the […]
NRS 354.685 – Severe financial emergency: Conditions; notification of local government by Department of Taxation; plan of corrective action; review of plan by Committee on Local Government Finance; order of Nevada Tax Commission requiring Department to take over management of local government.
1. The Committee may, upon the recommendation of the Executive Director pursuant to subsection 2 or at the request of a local government pursuant to subsection 3, conduct one or more hearings to determine whether a severe financial emergency exists in a local government. 2. The Executive Director may, after giving consideration to the severity […]
NRS 354.695 – Severe financial emergency: Powers and duties of Department of Taxation; reimbursement for expenses; allocation from Contingency Account; recommendations by local government; cooperation of state agencies; delegation of powers and duties to financial manager; method for termination of management.
1. As soon as practicable after taking over the management of a local government, the Department shall, with the approval of the Committee: (a) Establish and implement a management policy and a financing plan for the local government; (b) Provide for the appointment of a financial manager for the local government who is qualified to […]
NRS 354.705 – Severe financial emergency: Preparation of plan of revenue enhancement and expense mitigation by Executive Director; review and potential revision of plan regarding additional taxes or charges; hearing on plan by panel; adoption of plan; imposition and duration of additional taxes or charges; report of failure to satisfy expenses of local government; periodic report to Legislature regarding financial condition of local government.
1. As soon as practicable after the Department takes over the management of a local government, the Executive Director shall prepare a plan of revenue enhancement and expense mitigation, for consideration by the Committee, that will lead to sustainable financial stability for the local government. In preparing the plan, the Executive Director shall: (a) Determine […]
NRS 354.620 – Unencumbered balance of appropriation lapses at end of fiscal year; reversion to fund.
Any unencumbered balance on an accrual or modified accrual basis or any unexpended balance on a cash basis remaining to the credit of any appropriation shall lapse at the end of the fiscal year and shall revert to the available balance of the fund from which appropriated. (Added to NRS by 1965, 735; A 2001, […]