Nevada § 362.171 Establishment and use of county fund for mitigation; certain school districts authorized to use money apportioned to school district to retire bonds or other obligations of school district

Nevada Statutes

§ 362.171 — Establishment and use of county fund for mitigation; certain school districts authorized to use money apportioned to school district to retire bonds or other obligations of school district

Nevada § 362.171

Title 32REVENUE AND TAXATION

Ch. 362Taxes

ASSESSMENT AND TAXATION OF NET PROCEEDS OF MINERALS

This text of Nevada § 362.171 (Establishment and use of county fund for mitigation; certain school districts authorized to use money apportioned to school district to retire bonds or other obligations of school district) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 362.171 (2026).

Text

1. Each county to which money is appropriated by subsection 1 of NRS 362.170 may set aside a percentage of that appropriation to establish a county fund for mitigation. Money from the fund may be appropriated by the board of county commissioners only to mitigate adverse effects upon the county, or the school district located in the county, which result from:

(a)A decline in the revenue received by the county from the tax on the net proceeds of minerals during the 2 fiscal years immediately preceding the current fiscal year; or

(b)The opening or closing of an extractive operation from the net proceeds of which revenue has been or is reasonably expected to be derived pursuant to this chapter. 2. A school district in a county whose population is less than 4,500 may, as the board of trustees

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1. Each county to which money is appropriated by subsection 1 of NRS 362.170 may set aside a percentage of that appropriation to establish a county fund for mitigation. Money from the fund may be appropriated by the board of county commissioners only to mitigate adverse effects upon the county, or the school district located in the county, which result from:
(a) A decline in the revenue received by the county from the tax on the net proceeds of minerals during the 2 fiscal years immediately preceding the current fiscal year; or
(b) The opening or closing of an extractive operation from the net proceeds of which revenue has been or is reasonably expected to be derived pursuant to this chapter.
2. A school district in a county whose population is less than 4,500 may, as the board of trustees of the school district determines is necessary, use a portion of the money apportioned to the school district pursuant to subsection 2 of NRS 362.170 to retire bonds issued by the school district or any other outstanding obligations of the school district. Before authorizing the expenditure of money pursuant to this subsection, the board of trustees shall hold at least one public hearing on the matter.