Senate Bill No. 259–Committee on Human
Resources and Facilities

 

March 11, 2003

____________

 

Referred to Committee on Finance

 

SUMMARY—Authorizes University and Community College System of Nevada to retain reimbursement for indirect costs generated by institutions within System. (BDR 34‑1067)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

~

 

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

 

AN ACT relating to the University and Community College System of Nevada; authorizing institutions within the System to retain the revenue from the reimbursement of indirect costs that they generate from sponsored programs; authorizing the use of such revenue; 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. Chapter 396 of NRS is hereby amended by adding

1-2  thereto a new section to read as follows:

1-3  1.  An institution within the System is entitled to retain all

1-4  revenue that it generates from the reimbursement of indirect costs

1-5  for sponsored programs at the institution.

1-6  2.  Revenue retained pursuant to subsection 1 may be used:

1-7  (a) For capital construction and infrastructure construction of

1-8  research facilities;

1-9  (b) As pledged revenues for the purposes of the University

1-10  Securities Law; or

1-11      (c) For such other purposes as are authorized by law.

 

 

2-1  Sec. 2.  NRS 396.828 is hereby amended to read as follows:

2-2  396.828  “Pledged revenues” means the money pledged wholly

2-3  or in part for the payment of bonds or other securities issued

2-4  hereunder[,] and, subject to any existing pledges or other

2-5  contractual limitations, may include at the Board’s discretion, all

2-6  loans, grants or contributions to the University or Board, if any,

2-7  conditional or unconditional, from the Federal Government, the

2-8  State, any public body or other donor for the payment of the

2-9  principal of, the interest on[,] and any prior redemption premiums

2-10  due in connection with any securities issued hereunder, or any

2-11  combination thereof, and may include income or money derived

2-12  from one, all or any combination of the following sources of

2-13  revenue, including, without limitation, student fees and other fees,

2-14  rates and charges appertaining thereto:

2-15      1.  Dormitories, apartments and other facilities for housing;

2-16      2.  Cafeterias, dining halls and other facilities for food service;

2-17      3.  Student union and other facilities for student activities;

2-18      4.  Store or other facilities for the sale or lease of books,

2-19  stationery, student supplies, faculty supplies, office supplies and like

2-20  material;

2-21      5.  Stadium, arena, theater, field house and other athletic or

2-22  recreational facilities for use in part by spectators or otherwise;

2-23      6.  Land and any structures, other facilities, or other

2-24  improvements thereon used or available for use for the parking of

2-25  vehicles used for the transportation by land or air of persons to or

2-26  from such land and any improvements thereon;

2-27      7.  Properties for providing heat or any other utility furnished

2-28  by the University or the Board to any facilities on its campus;

2-29      8.  Investments and reinvestments of unrestricted endowments;

2-30      9.  Any revenue derived from or otherwise pertaining to the

2-31  imposition and collection of fees for dental services provided at a

2-32  facility of the University; [and]

2-33      10.  Any revenue derived as reimbursement of indirect costs

2-34  for sponsored programs pursuant to section 1 of this act; and

2-35      11.  Facilities of the Desert Research Institute, including,

2-36  without limitation, money from:

2-37      (a) Grants to the Desert Research Institute by any person or the

2-38  Federal Government;

2-39      (b) Contracts and leases between the Desert Research Institute

2-40  and any person or governmental entity;

2-41      (c) The investment of any money of the Desert Research

2-42  Institute; and

2-43      (d) Any other revenue received by the Desert Research Institute,

2-44  or by the Board on behalf of the Desert Research Institute pursuant

2-45  to NRS 396.795 to 396.7956, inclusive.

3-1  Sec. 3.  This act becomes effective on July 1, 2003.

 

3-2  H