Nevada AB507 revises state financial administration by clarifying budget revision thresholds and approval processes.

Nevada AB507 amends the State Budget Act to clarify the conditions under which a department, institution, or agency can request a revision to its work program. A revision exceeding $75,000 in a single category or altering the expenditure level by 20% or $350,000 must be approved by the Governor or the Chief of the Budget Division. The bill also prohibits dividing a proposed revision into separate requests to bypass approval requirements. The Interim Finance Committee must consider the necessity of the revision and the Legislature's intent when reviewing requests.

Nevada AB507 revises state financial administration by clarifying budget revision thresholds and approval processes.

Nevada AB507 amends the State Budget Act to clarify the conditions under which a department, institution, or agency can request a revision to its work program. A revision exceeding $75,000 in a single category or altering the expenditure level by 20% or $350,000 must be approved by the Governor or the Chief of the Budget Division. The bill also prohibits dividing a proposed revision into separate requests to bypass approval requirements. The Interim Finance Committee must consider the necessity of the revision and the Legislature's intent when reviewing requests.