NRS 353.359 - Advance from State General Fund for budget account supported by administrative assessments; notification of Fiscal Analysis Division of Legislative Counsel Bureau of approved advances.

NV Rev Stat § 353.359 (2019) (N/A)

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1. The State Controller shall draw his or her warrant, upon application by an agency responsible for the administration of an account which is wholly or partially supported by administrative assessments pursuant to NRS 176.059, for not more in the aggregate in any fiscal year than 1/12th of the portion of the total money received in the previous year which represents the share of administrative assessments presently allocated to the account.

2. An agency shall not apply for an advance pursuant to subsection 1 unless the application is first approved by the Director of the Office of Finance.

3. Any money which is advanced from the State General Fund to an account pursuant to subsection 1 must be repaid as soon as the money which the advance replaced is deposited in the account. If the money deposited in the account in any fiscal year is insufficient to pay back the money advanced, an amount equal to the shortfall is hereby contingently appropriated from the State General Fund to the account.

4. The Director of the Office of Finance shall notify the Fiscal Analysis Division of the Legislative Counsel Bureau if:

(a) The Director approves an advance pursuant to subsection 2.

(b) The money deposited in an account in any fiscal year is insufficient to pay back the money advanced pursuant to subsection 1.

(Added to NRS by 1987, 1680; A 2003, 944)

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