Senate Bill No. 198–Committee on Finance

 

CHAPTER..........

 

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:

 

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

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

application by an agency responsible for the administration of an

account which is wholly or partially supported by administrative

assessments pursuant to NRS 176.059, for not more in the

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

portion of the total money received in the previous year which

represents the share of administrative assessments presently

allocated to the account.

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

subsection 1 unless the application is first approved by the Director

of the Department of Administration.

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

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

the money which the advance replaced is deposited in the account.

If the money deposited in the account in any fiscal year is

insufficient to pay back the money advanced, an amount equal to the

shortfall is hereby contingently appropriated from the State General

Fund to the account.

    4.  The Director of the Department of Administration shall

notify the Fiscal Analysis Division of the Legislative Counsel

Bureau if:

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

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

insufficient to pay back the money advanced pursuant to

subsection 1.

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

 

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