Bill > SB479

This bill provides a specific financial appropriation to Nevada's Office of Economic Development (OED) to support designated regional development authorities over two fiscal years. Specifically, the bill allocates $375,000 for both Fiscal Year 2025-2026 and Fiscal Year 2026-2027 from the State General Fund. The funds are intended to support regional development authorities that have been officially designated by the Executive Director of the OED, as defined under a specific provision of Nevada Revised Statutes (NRS 231.053). The bill includes strict guidelines about the use of these funds, stipulating that any unspent money must be returned to the State General Fund by September 18, 2026, and September 17, 2027, respectively, and cannot be committed for expenditure after June 30 of each respective fiscal year. The appropriation is set to become effective on July 1, 2025, and is part of Nevada's 83rd legislative session, with the aim of providing targeted financial support to help regional economic development efforts across the state.

Budget and Finance

Finance (S)

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12921/Overview