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- 83rd Session (2025)
Senate Bill No. 419–Committee on Finance
CHAPTER..........
AN ACT relating to state financial administration; authorizing the
Director of the Legislative Counsel Bureau to enter into any
contracts necessary to assist the Economic Forum and the
Technical Advisory Committee on Future State Revenues in
carrying out their duties; revising the date by which certain
reports of the Economic Forum are required to be prepared
and presented; and providing other matters properly relating
thereto.
Legislative Counsel’s Digest:
Under existing law, the Governor is required, on or before July 1 of each even-
numbered year, to impanel an Economic Forum, which consists of persons who
have the expertise necessary for economic forecasting and are appointed by the
Governor. (NRS 353.226) Existing law requires the Economic Forum to make
projections for economic indicators and provide an accurate estimate of the revenue
that will be collected by the State for general, unrestricted uses during the next
biennium and report such projections and estimates to the Governor and the
Legislature. (NRS 353.228) Existing la w also requires that all projections of
revenue and any other information concerning future state revenue contained in the
biennial budget proposed to the Legislature be based upon the projections and
estimates prepared by the Economic Forum. (NRS 353.230, 353.246) Existing law
creates the Technical Advisory Committee on Future State Revenues and requires it
to provide all assistance requested by the Economic Forum. (NRS 353.229) Under
existing law, the Director of the Legislative Counsel Bureau and the Chi ef of the
Budget Division of the Office of Finance are required to jointly provide the
Economic Forum and the Technical Advisory Committee with meeting rooms,
staff, data processing services and clerical assistance. (NRS 353.227) Sections 1
and 3 of this bill: (1) remove data processing services from the list of jointly
provided items; and (2) authorize the Director to enter into any contracts necessary
to assist the Economic Forum and the Tech nical Advisory Committee in carrying
out their duties, including contracts for revenue forecasting and data processing
services.
Existing law requires the Economic Forum, on or before December 3 of each
even-numbered year, to prepare a written report of its projections of economic
indicators and estimate of future state revenue and present the report to the
Governor and the Legislature. Additionally, existing law requires the Economic
Forum, on or before May 1 of each odd -numbered year, to prepare a writt en report
confirming or revising those projections and that estimate and present that report to
the Governor and the Legislature. (NRS 353.228) Section 2 of this bill moves the
date by which the latter report is required to be prepared and presented from May 1
of each odd-numbered year to April 1 of each odd-numbered year.
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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. NRS 353.227 is hereby amended to read as follows:
353.227 1. The Economic Forum impaneled pursuant to NRS
353.226 shall:
(a) Elect a Chair and Vice Chair from among its members at its
first meeting;
(b) Adopt such rules governing the conduct of the Economic
Forum as it deems necessary; and
(c) Hold such number of meetings as may be necessary to
accomplish the tasks assigned to it in the time allotted.
2. The Director of the Legislative Counsel Bureau and Chief of
the Budget Division of the Office of Finance shall jointly provide
the Economic Forum with:
(a) Meeting rooms;
(b) Staff; and
(c) [Data processing services; and
(d)] Clerical assistance.
3. The Director of the Legislative Counsel Bureau may enter
into any contracts necessary to assist the Economic Forum in
carrying out its duties, including, without limitation, con tracts for
revenue forecasting and data processing services.
[3.] 4. A majority of the members constitutes a quorum and a
majority of those present must concur in any decision.
[4.] 5. While engaged in the business of the Economic Forum,
each member is entitled to receive the per diem allowance and travel
expenses provided for state officers and employees generally.
[5.] 6. In addition to the per diem allowance and travel
expenses provided in subsection [4,] 5, each member of the
Economic Forum who is appointed by the Governor pursuant to
subsection 2 of NRS 353.226 is entitled to receive for each meeting
of the Economic Forum:
(a) Eighty dollars for 1 day of preparation for that meeting; and
(b) Eighty dollars for each day or part of a day during wh ich the
meeting lasts.
Sec. 2. NRS 353.228 is hereby amended to read as follows:
353.228 1. The Economic Forum impaneled pursuant to NRS
353.226 shall:
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(a) Make such projections for economic indicators as it deems
necessary to ensure that an accurate estimate is produced pursuant to
paragraph (b);
(b) Provide an accurate estimate of the revenue that will be
collected by the State for general, unrestricted uses, and not for
special purposes, during the biennium that begins on July 1 of the
year following the date on which the Economic Forum was
empaneled;
(c) Request such technical assistance as the Economic Forum
deems necessary from the Technical Advisory Committee created
by NRS 353.229;
(d) On or before December 3 of each even -numbered year,
prepare a written report of its projections of economic indicators and
estimate of future state revenue required by paragraphs (a) and (b)
and present the report to the Governor and the Legislature;
(e) On or before [May] April 1 of each odd -numbered year,
prepare a written report confirming or revising the projections of
economic indicators and estimate of future state revenue contained
in the report prepared pursuant to paragraph (d) and present the
report to the Governor and the Legislature; and
(f) Except as otherwise provided in subsection 2, on or before
June 10 of each even-numbered year and December 10 of each odd -
numbered year, hold a meeting to consider current economic
indicators, including, without limitation, emp loyment,
unemployment, personal income and any other indicators deemed
appropriate by the Economic Forum. Based on current economic
indicators, the Economic Forum shall update the status of actual
State General Fund revenue compared to the most recent fore cast of
the Economic Forum. The provisions of this paragraph are not
intended to authorize the Economic Forum to make additional
forecasts pursuant to paragraph (b). At the next appropriate meeting
of the Interim Finance Committee, the Chair of the Economi c
Forum or a member of the staff of the Economic Forum shall
present to the Interim Finance Committee such matters considered at
the meeting of the Economic Forum held pursuant to this paragraph,
as the Economic Forum determines appropriate. Any such
information presented to the Interim Finance Committee must be
made available on the Internet website of the Legislature.
2. If the deadline for preparing a report or holding a meeting as
required in subsection 1 falls on a Saturday, Sunday or legal
holiday, the deadline is extended to the second business day
following the deadline.
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3. The Economic Forum may make preliminary projections of
economic indicators and estimates of future state revenue at any
time. Any such projections and estimates must be made a vailable to
the various agencies of the State through the Chief.
4. The Economic Forum may request information directly from
any state agency, including, without limitation, the Nevada System
of Higher Education. A state agency, including, without limita tion,
the Nevada System of Higher Education, that receives a reasonable
request for information from the Economic Forum shall comply
with the request as soon as is reasonably practicable after receiving
the request.
5. The Economic Forum may request dire ct testimony from
any state agency, including, without limitation, the Nevada System
of Higher Education, at a meeting of the Economic Forum or the
Technical Advisory Committee. The head, or a designee thereof, of
a state agency, including, without limitat ion, the Nevada System of
Higher Education, who receives a reasonable request for direct
testimony at a meeting of the Economic Forum or the Technical
Advisory Committee shall appear at the meeting and shall comply
with the request.
6. To carry out its duties pursuant to this section, the Economic
Forum may consider any information received from the Technical
Advisory Committee and any other information received from
independent sources.
7. Copies of the projections and estimates made pursuant to
this section must be made available to the public by the Director of
the Legislative Counsel Bureau for the cost of reproducing the
material.
Sec. 3. NRS 353.229 is hereby amended to read as follows:
353.229 1. The Technical Advisory Committee on Future
State Revenues, consisting of seven members, is hereby created.
2. The members of the Committee are the persons serving in
the following positions or their designees:
(a) The Senate Fiscal Analyst;
(b) The Assembly Fiscal Analyst;
(c) The Chief of the Budget Division of the Office of Finance;
(d) The head of the Research Division of the Employment
Security Division of the Department of Employment, Training and
Rehabilitation or, if that position ceases to exist, the position
deemed by the Administrator of the Employment Security Division
to be the equivalent of that position;
(e) The Vice Chancellor for Finance of the Nevada System of
Higher Education or a person designated by the Vice Chancellor;
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(f) The demographer employed pursuant to NRS 360.283; and
(g) The Chair of the Committee on Local Government Finance.
3. The Committee shall:
(a) At its first meeting and annually thereafter elect a Chair and
Vice Chair from among its members;
(b) Adopt such rules governing the conduct of the Committee as
it deems necessary;
(c) Hold such number of meetings as may be necessary to carry
out the requests made by the Economic Forum pursuant to NRS
353.228 in the most timely manner practicable; and
(d) Provide all assista nce requested by the Economic Forum
pursuant to NRS 353.227.
4. A majority of the Committee constitutes a quorum and a
majority of those members present must concur in any decision.
5. Each member of the Committee who is not an officer or
employee of the State shall serve without compensation, except that
while the member is engaged in the business of the Committee he or
she is entitled to receive the per diem allowance and travel expenses
provided for state officers and employees generally.
6. Each member of the Committee who is an officer or
employee of the State must be relieved from duties without loss of
his or her regular compensation so that the member may prepare for
and attend meetings of the Committee and perform any work
necessary to accomplish the tasks assigned to the Committee in the
most timely manner practicable. A state agency shall not require an
officer or employee who is a member of the Committee to make up
the time he or she is absent from work to fulfill his or her
obligations as a member, nor shall it require the member to take
annual vacation or compensatory time for the absence. Such a
member shall serve on the Committee without additional
compensation, except that while the member is engaged in the
business of the Committee he or she is entitled to receive the per
diem allowance and travel expenses provided for state officers and
employees generally, which must be paid by the state agency which
employs the member.
7. The Committee may request information from any state
agency. A state agency that receives a reasonable request for
information from the Committee shall comply with the request as
soon as is reasonably practicable after receiving the request.
8. The Director of the Legislative Counsel Bureau and the
Chief of the Budget Division of the Office of Finance shall jointly
provide the Committee with:
(a) Meeting rooms;
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(b) Staff; and
(c) [Data processing services; and
(d)] Clerical assistance.
9. The Director of the Legislative Counsel Bureau may enter
into any cont racts necessary to assist the Committee in carrying
out its duties, including, without limitation, contracts for revenue
forecasting and data processing services.
Sec. 4. This act becomes effective on July 1, 2025.
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