Nevada mining tax cap proposal overview
Here is a brief overview of the measure:
The measure would remove a mine tax cap in the Nevada Constitution if it is sent to the ballot and enacted by voters. The tax cap had helped pass the constitution in 1864, at a time when the economy was struggling in the new state of Nevada. If the measure, also known as Senate Bill 15, is passed by the legislature, it will then be up for consideration during 2013 legislative session, where it must be approved to obtain ballot access.
A majority vote is required in two successive sessions of the Nevada State Legislature to send a legislatively-referred constitutional amendment to the ballot. Nevada is one of 12 states in which proposed amendments are considered in two successive sessions of the state's legislature.