Nev. Rev. Stat. § 373.87 — Local Fuel Tax Fund: Creation; investment; expenditures; nonreversion

NRS  373.087    Local Fuel Tax Fund: Creation; investment; expenditures;
nonreversion.
1.  The Local Fuel Tax Fund is hereby
created as an enterprise fund. The Department shall deposit in the Fund all
fees collected by the Department pursuant to subsection 3 of NRS 373.083 . The Director of the Department
shall administer the Fund.
2.  Money in the Fund must be invested as
the money in other state funds is invested. The interest and income earned on
the money in the Fund, after deducting any applicable charges, must be credited
to the Fund. Claims against the Fund must be paid as other claims against the
State are paid.
3.  Money deposited in the Fund must only
be expended:
(a) To administer the system established by the
Department pursuant to NRS 373.083 ; and
(b) To reimburse a commission for any amounts
paid by the commission pursuant to an intergovernmental agreement or contract
entered into pursuant to subsection 4 of NRS
373.083 .
4.  The Director may maintain a reserve of
not more than $500,000 in the Fund. The reserve must be accounted for
separately in the Fund and must only be expended to administer the system
established by the Department pursuant to NRS
373.083 .
5.  Any balance remaining in the Fund at
the end of any fiscal year:
(a) Does not revert to the State General Fund;
and
(b) Must be carried forward to the next fiscal
year.