SB462

SB462 revises Nevada's state financial administration, adjusting budget preparation and the Rainy Day Account.

SB462 modifies Nevada's state financial administration by altering the budget preparation process and the Rainy Day Account. The bill updates the definition of "adjusted base budget" to exclude certain one-time appropriations and expenditures. It also changes the calculation for the Rainy Day Account's balance limit, basing it on the previous fiscal year's appropriations instead of the current fiscal year's. The bill transfers the duty of preparing the statewide cost allocation plan from the Administrator of the Administrative Services Division to the Chief of the Budget Division.