SUMMARY--Provides for apportionment of interest earned on taxes collected for local governments. (BDR 32-692)
FISCAL NOTE: Effect on Local Government: Yes.
Effect on the State or on Industrial Insurance: No.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT relating to local governmental finances; expanding the duties of the county treasurer to include fiscal reports to each government entitled to a portion of the taxes received by the treasurer; providing for the apportionment of interest earned on taxes received; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
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Section 1 NRS 361.755 is hereby amended to read as follows:
361.755 1. At least once each quarter and at such intervals as may be required by the board of county commissioners, the county treasurer [must] shall apportion all the money that [shall have] has come into his hands as ex officio tax receiver since the last apportionment into several funds, as provided by law and he shall make out a statement of the [same] apportionment under oath and transmit the statement to the county auditor [.] and to the governing body of each local government entitled to receive an apportionment of the taxes collected. The county auditor shall file his copy of the statement in his office.
2. Any interest earned on taxes received since the last apportionment must be apportioned pro rata among the local governments entitled to receive the taxes apportioned in the same proportions as the taxes on which the interest was earned are apportioned.
Sec. 2 This act becomes effective on July 1, 1997.