Nev. Rev. Stat. § 360.690 — Establishment of base monthly allocations from Account; remission of allocations to local governments; estimates of allocations for future year for use in preparation of budgets

NRS  360.690    Establishment of base monthly allocations from Account;
remission of allocations to local governments; estimates of allocations for
future year for use in preparation of budgets.
1.  Except as otherwise provided in NRS 360.730 , the Executive Director shall
estimate monthly the amount each local government, special district and
enterprise district will receive from the Account pursuant to the provisions of
this section.
2.  The Executive Director shall establish
a base monthly allocation for each local government, special district and
enterprise district by dividing the amount determined pursuant to NRS 360.680 for each local government,
special district and enterprise district by 12, and the State Treasurer shall,
except as otherwise provided in subsections 3 to 7, inclusive, remit monthly
that amount to each local government, special district and enterprise district.
3.  If, after making the allocation to each
enterprise district for the month, the Executive Director determines there is
not sufficient money available in the county’s subaccount in the Account to
allocate to each local government and special district the base monthly
allocation determined pursuant to subsection 2, he or she shall prorate the
money in the county’s subaccount and allocate to each local government and
special district an amount equal to its proportionate percentage of the total
amount of the base monthly allocations determined pursuant to subsection 2 for
all local governments and special districts within the county. The State
Treasurer shall remit that amount to the local government or special district.
4.  Except as otherwise provided in
subsections 6 and 7, for a county whose population is 100,000 or more, if the
Executive Director determines that there is money remaining in the county’s
subaccount in the Account after the base monthly allocation determined pursuant
to subsection 2 has been allocated to each local government, special district
and enterprise district, he or she shall immediately determine and allocate
each:
(a) Local government’s share of the remaining
money by:
(1) Multiplying one-twelfth of the amount
allocated pursuant to NRS 360.680 by
0.02 plus the sum of:
(I) The average percentage of change
in the population of the local government over the 5 fiscal years immediately
preceding the year in which the allocation is made, as certified by the
Governor pursuant to NRS 360.285 , except
as otherwise provided in subsection 8; and
(II) The greater of zero or the
average percentage of change in the assessed valuation of the taxable property
in the local government, including assessed valuation attributable to a
redevelopment agency but excluding the portion attributable to the net proceeds
of minerals, over the year in which the allocation is made, as projected by the
Department, and the 4 fiscal years immediately preceding the year in which the
allocation is made; and
(2) Using the figure calculated pursuant
to subparagraph (1) to calculate and allocate to each local government an
amount equal to the proportion that the figure calculated pursuant to
subparagraph (1) bears to the total amount of the figures calculated pursuant
to subparagraph (1) of this paragraph and subparagraph (1) of paragraph (b),
respectively, for the local governments and special districts located in the
same county multiplied by the total amount available in the subaccount, except
that if the figure calculated pursuant to subparagraph (1) is less than zero,
that figure must be treated as being zero for purposes of determining the
allocation pursuant to this subparagraph; and
(b) Special district’s share of the remaining
money by:
(1) Multiplying one-twelfth of the amount
allocated pursuant to NRS 360.680 by
0.02 plus the greater of zero or the average change in the assessed valuation
of the taxable property in the special district, including assessed valuation
attributable to a redevelopment agency but excluding the portion attributable
to the net proceeds of minerals, over the year in which the allocation is made,
as projected by the Department, and the 4 fiscal years immediately preceding
the year in which the allocation is made; and
(2) Using the figure calculated pursuant
to subparagraph (1) to calculate and allocate to each special district an
amount equal to the proportion that the figure calculated pursuant to
subparagraph (1) bears to the total amount of the figures calculated pursuant
to subparagraph (1) of this paragraph and subparagraph (1) of paragraph (a),
respectively, for the local governments and special districts located in the
same county multiplied by the total amount available in the subaccount.
Ê The State
Treasurer shall remit the amount allocated to each local government or special
district pursuant to this subsection.
5.  Except as otherwise provided in
subsection 7, for a county whose population is less than 100,000, if the
Executive Director determines that there is money remaining in the county’s
subaccount in the Account after the base monthly allocation determined pursuant
to subsection 2 has been allocated to each local government, special district
and enterprise district, the Executive Director shall immediately determine and
allocate each:
(a) Local government’s share of the remaining
money by:
(1) Multiplying one-twelfth of the amount
allocated pursuant to NRS 360.680 by 1
plus the sum of the:
(I) Average percentage of change in
the population of the local government over the 5 fiscal years immediately
preceding the year in which the allocation is made, as certified by the
Governor pursuant to NRS 360.285 , except
as otherwise provided in subsection 8; and
(II) Average percentage of change in
the assessed valuation of the taxable property in the local government,
including assessed valuation attributable to a redevelopment agency but
excluding the portion attributable to the net proceeds of minerals, over the
year in which the allocation is made, as projected by the Department, and the 4
fiscal years immediately preceding the year in which the allocation is made;
and
(2) Using the figure calculated pursuant
to subparagraph (1) to calculate and allocate to each local government an
amount equal to the proportion that the figure calculated pursuant to
subparagraph (1) bears to the total amount of the figures calculated pursuant
to subparagraph (1) of this paragraph and subparagraph (1) of paragraph (b),
respectively, for the local governments and special districts located in the
same county multiplied by the total amount available in the subaccount; and
(b) Special district’s share of the remaining
money by:
(1) Multiplying one-twelfth of the amount
allocated pursuant to NRS 360.680 by 1
plus the average change in the assessed valuation of the taxable property in
the special district, including assessed valuation attributable to a
redevelopment agency but excluding the portion attributable to the net proceeds
of minerals, over the year in which the allocation is made, as projected by the
Department, and the 4 fiscal years immediately preceding the year in which the
allocation is made; and
(2) Using the figure calculated pursuant
to subparagraph (1) to calculate and allocate to each special district an
amount equal to the proportion that the figure calculated pursuant to
subparagraph (1) bears to the total amount of the figures calculated pursuant
to subparagraph (1) of this paragraph and subparagraph (1) of paragraph (a),
respectively, for the local governments and special districts located in the
same county multiplied by the total amount available in the subaccount.
Ê The State
Treasurer shall remit the amount allocated to each local government or special
district pursuant to this subsection.
6.  Except as otherwise provided in
subsection 7, if the Executive Director determines that there is money
remaining in the county’s subaccount in the Account after the base monthly
allocation determined pursuant to subsection 2 has been allocated to each local
government, special district and enterprise district in a county whose
population is 100,000 or more, and if the calculations performed pursuant to
paragraph (a) of subsection 4 require the use of zero for each local
government, the Executive Director shall allocate to each local government and
special district an amount equal to its proportionate percentage of the total
amount of the base monthly allocations determined pursuant to subsection 2 for
all local governments and special districts within the county. The State
Treasurer shall remit the amount allocated to each local government or special
district pursuant to this subsection.
7.  The Executive Director shall not
allocate any amount to a local government or special district pursuant to
subsection 4, 5 or 6 unless the amount distributed and allocated to each of the
local governments and special districts in the county in each preceding month
of the fiscal year in which the allocation is to be made was at least equal to
the base monthly allocation determined pursuant to subsection 2. If the amounts
distributed to the local governments and special districts in the county for
the preceding months of the fiscal year in which the allocation is to be made
were less than the base monthly allocation determined pursuant to subsection 2
and the Executive Director determines there is money remaining in the county’s
subaccount in the Account after the distribution for the month has been made,
he or she shall:
(a) Determine the amount by which the base
monthly allocations determined pursuant to subsection 2 for each local
government and special district in the county for the preceding months of the
fiscal year in which the allocation is to be made exceeds the amounts actually
received by the local governments and special districts in the county for the
same period; and
(b) Compare the amount determined pursuant to
paragraph (a) to the amount of money remaining in the county’s subaccount in
the Account to determine which amount is greater.
Ê If the
Executive Director determines that the amount determined pursuant to paragraph
(a) is greater, he or she shall allocate the money remaining in the county’s
subaccount in the Account pursuant to the provisions of subsection 3. If the
Executive Director determines that the amount of money remaining in the
county’s subaccount in the Account is greater, he or she shall first allocate
the money necessary for each local government and special district to receive
the base monthly allocation determined pursuant to subsection 2 and the State
Treasurer shall remit that money so allocated. The Executive Director shall
allocate any additional money in the county’s subaccount in the Account
pursuant to the provisions of subsection 4, 5 or 6, as appropriate.
8.  The percentage changes in population
calculated pursuant to subsections 4 and 5 must, if a new method of determining
population is established pursuant to NRS
360.283 , be adjusted in a manner that will result in the percentage change
being based on population determined pursuant to the new method for both the
fiscal year in which the allocation is made and the fiscal year immediately
preceding the year in which the allocation is made.
9.  On or before February 15 of each year,
the Executive Director shall provide to each local government, special district
and enterprise district a preliminary estimate of the revenue it will receive
from the Account for that fiscal year.
10.  On or before March 15 of each year,
the Executive Director shall:
(a) Make an estimate of the receipts from each
tax included in the Account on an accrual basis for the next fiscal year in
accordance with generally accepted accounting principles, including an estimate
for each county of the receipts from each tax included in the Account; and
(b) Provide to each local government, special
district and enterprise district an estimate of the amount that local
government, special district or enterprise district would receive based upon
the estimate made pursuant to paragraph (a) and calculated pursuant to the
provisions of this section.
11.  A local government, special district
or enterprise district may use the estimate provided by the Executive Director
pursuant to subsection 10 in the preparation of its budget.