NRS 408.242 - Establishment of nonreverting account for construction, reconstruction, improvement and maintenance of public roads consisting of money transferred from Fund for Cleaning Up Discharges of Petroleum and money from other sources; semiannual allocation of balance of account.

NV Rev Stat § 408.242 (2019) (N/A)

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1. The Department shall establish an account in the State Highway Fund to be administered by the Director. The interest and income on the money in the account, after deducting any applicable charges, must be credited to the account. Any money remaining in the account at the end of each fiscal year does not revert to the State Highway Fund but must be carried over into the next fiscal year. The money in the account must be used exclusively for the construction, reconstruction, improvement and maintenance of public roads.

2. The account consists of:

(a) The money transferred to the account pursuant to NRS 445C.350;

(b) All income and interest earned on the money in the account; and

3. On July 1 and December 31 of each year, the Director shall allocate:

(a) Seventy percent of the money in the account to a regional transportation commission in a county whose population is 700,000 or more;

(b) Twenty percent of the money in the account to a regional transportation commission in a county whose population is 100,000 or more but less than 700,000; and

(c) Ten percent of the money in the account to the Department for use in counties that have a population of less than 100,000.

(Added to NRS by 2010, 26th Special Session, 46; A 2011, 1251; 2015, 3601)

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