Nevada state budget (2012-2013)

Note: This article was last updated in 2013. Click here for more recent information on state budgets and finances.

See also: Archived Nevada state budgets

The Nevada State Legislature passed five budget bills that fund the state government and education for FY 2012-13 on June 5, 2011. Governor Brian Sandoval signed the budget on June 14, 2011. A summary of the budget as prepared by the state can be found here Assembly Bill 579 provided funding for schools, Assembly Bill 580 contained appropriations for the general fund, Assembly Bill 503 authorized expenditures, Assembly Bill 504 funded capital improvements, and Senate Bill 505 provided state funds to pay bills.

Interim Funding

At the end of August 2011, the Interim Finance Committee, which functions within the Legislative Counsel Bureau between sessions and administers a contingency fund, met and approved more than 100 requests for funds from nearly every state agency.

Revenue

In FY 2012, the state transferred $97.4 million from the Unclaimed Property Division to the general fund. Property that was unclaimed for three years was transferred to the general fund.

The governor suffered a blow when a Nevada State Supreme Court ruling raised legal issues on some funding tactics totaling about $656 million. The ruling opposed lifting the sunsets on the taxes. The court found that it was unconstitutional for the state to reallocate $62 million from a southern Nevada clean water fund in 2010 to help pay revenues and close an $805 million deficit.

General Fund revenue collections were $37.99 million ahead of the forecasts used to build the state budget, according to reports presented to the Economic Forum on December 13, 2011.