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From YouTube: 5/13/2021 - Assembly Committee on Revenue
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A
Assemblyman
jager
yeager
colin,
and
I
am
here
thank
you-
I'm
going
to
go
ahead
and
dispense
with
the
normal
housekeeping.
I
think
we
all
know
it
by
now
and
we're
going
to
go
into
our
work
session.
So,
mr
nakamoto,
if
you'll,
please
go
ahead.
C
Thank
you,
madam
chair,
for
the
record,
I
am
michael
nakamoto,
deputy
fiscal
analyst
with
the
fiscal
analysis,
division
of
the
nevada
legislative
council
bureau.
The
first
bill
on
today's
work
session
is
senate
bill
284,
which
was
sponsored
by
senator
ratty
and
which
was
heard
in
this
committee
last
thursday
on
may
6.
C
senate
bill
284
in
its
first
reprint,
revises
various
provisions
governing
the
affordable
housing
tax
credit
program
that
was
established
pursuant
to
senate
bill
448
of
the
2019
legislative
session
as
a
four-year
pilot
program
that
is
administered
by
the
housing
division
of
the
department
of
business
and
in
this
room.
Okay.
First,
specifically,
the
bill
does
four
things.
First,
it
revises
the
procedure
for
the
issuance
of
transferable
tax
credits
so
that
transferable
tax
credits
are
issued
before
rather
than
after
the
project
is
completed.
C
A
Thank
you,
mr
nakamoto.
We
also
have
mr
acroff
from
the
administration
from
the
nevada
housing
division
on
the
zoom.
If
anyone
has
any
questions,
the
senator
is
still
cheering
right
now,
so
she
was
unable
to
come
to
the
room,
but
we
do
have
availability
for
answering
questions.
If
anyone
has
any
okay
seeing
none,
I
will
take
a
motion
to
do
pass.
A
A
Okay,
seeing
none
I
am
going
to
take
a
just,
take
a
a
vote
without
doing
roll
call,
but
because
the
room
is
so
big.
I
just
need
to
make
sure
that
if
you
are
a
no
mate,
please
make
sure
that
I
got
you
so
all
those
in
favor,
please
say
aye
any
opposed.
Okay
great.
So
that
was
unanimous
and
I
will
assign
the
floor
statement
to
assemblywoman
considine.
A
And
with
that,
mr
nakamoto,
if
you'll
please
go
on.
C
Thank
you,
madam
chair
again
for
the
record,
michael
nakamoto,
with
the
fiscal
analysis
division.
The
second
and
final
bill
on
today's
work
session
is
senate
bill
395,
which
was
sponsored
by
senator
goytachia
and
which
was
heard
in
this
committee.
Also
last
thursday
may
6.
senate
bill.
395
provides
that,
if
approved
by
the
voters,
the
board
of
county
commissioners
of
a
county
whose
population
is
less
than
45
000,
which
are
churchill,
esmeralda,
eureka,
humboldt,
lander,
lincoln
mineral
nye,
pershing
story
and
white
pine
counties
shall
levy
attacks
of
not
more
than
25
cents.
C
Additionally,
the
bill
specifies
that
the
amount
of
any
tax
imposed
pursuant
to
the
bill
is
exempt
from
the
provisions
of
current
law,
which
generally
limit
annual
increases
in
property
taxes
to
between
three
percent
and
eight
percent.
Again
there
were
no
amendments
to
this
bill.
Madam
chair
members
of
the
committee.
If
there
are
any
questions,
I
would
be
glad
to
answer
them.
Thank
you.
A
A
Thank
you
and,
as
a
reminder,
you
always
have
the
right
to
change
your
mind
before
we
get
something
gets
to
the
floor,
but
we
just
ask
that
you.
Let
me
know
if
you
are
changing
your
mind,
do
we
have
any
questions
go
ahead?
Vice
chair.
D
Thanks
so
much
I
can
say
that
I,
I
guess
I
feel
sympathetic
towards
this
book,
because
I
was
I
was
in
this
such
situation
right.
I
I
was
a
co-sponsor
on
a
bill
like
this
that
failed
once
and
came
back
and
co-sponsored
a
bill
a
second
time
to
do
something
similar
in
my
county.
So
I've
been
sitting
in
that
seat
where
you
at
the
local
level,
are
trying
to
flush
out
how
you
address
your
capital
needs
in
education
and
education
funding
is
really
tricky
right.
D
D
I
I
I
imagine
all
the
conversations
that
happened
and-
and
I
know
that
the
bill
sponsor
is
coming
kind
of
in
a
hat
in
hand,
way
to
say
this
is
the
only
thing
I
know
how
to
do
to
help
so
so
I'll
be
voting
yes
for
this,
because
I've
I've
been
there,
I
don't.
I
don't
necessarily
know
what
my
colleagues
are
going
to
do,
but
I've
had
this
feeling
of
trying
to
beg
a
group
of
people
to
hear
me
out
about
capital
needs
in
my
in
my
district.
D
B
A
B
Thank
you,
and
I
agree
with
both
the
prior
speakers
as
well,
who
who
talked
about
the
importance
of
coming
in
in
hand
asking
for
this,
but
I
also
have
to
be
realist
and
I
will
be
supporting
it.
I
want
to
want
to
make
sure
that's
clear
beforehand.
B
I
also
think
it's
up
to
the
voters
to
make
that
decision,
and
I
get
frustrated,
though,
because
I'm
looking
at
these
counties,
I'm
looking
at
everything
that
they're
that
I'm
being
told
that
they're
receiving
from
a
outside
group
who
does
not
want
to
put
more
money
into
our
different
school
districts
for
whatever
reason-
and
it
gives
me
pause
and
I've
already
spoken
with
the
with
the
or
I've
emailed
the
maker
of
the
of
the
bill.
My
concern.
B
B
But
I
am
concerned
about
how
there's
an
outside
entity
away
from
the
school
district,
who
is
saying
how
much
they're
giving
to
education
and
to
other
local
industries
and
in
in
public
works,
and
it's
not
always
coming
out
in
the
school
and
the
school
buildings
themselves.
So
just
wanted
to
make
sure
that
that
was
on
the
record
and
thank
you
chair
for
that
time.
A
Okay,
seeing
none
all
those
in
favor
aye
opposed,
nay,
okay,
so
for
nay,
I
have
o'neill
considine
roberts
missing
anyone,
nope,
okay,
the
motion
passes
and
I
will
assign
the
floor
statement
to
assemblywoman
bilbray
axelrod,
okay,
and
with
that
we
will
close
out
our
work
session
and
move
into
our
presentation
on
the
economic
forum.
A
I'm
sorry,
mr
guindon
we're
having
a
little
bit
of
trouble
hearing
you,
and
so
I
don't
know
if
bps
can
take
care
of
that
or.
F
F
E
Okay,
so
is
hopefully
that's
better.
That's.
A
Right,
yes,
that's
better,
thank
you
and
I
will
remind
the
committee.
We
do
have
large
versions
of
the
of
the
charts
on
our
desks.
E
Okay
and
so
what
I
have
brought
up
here,
and
so
I'm
trying
to
figure
out
where
to
put
the
zoom
box,
so
I
can
actually
see
the
members
myself.
E
E
And
so
you
have
that
table.
All
of
you
got
an
email
after
the
economic
forum
was
done
with
the
letter
that
the
form
sends
out
along
with
that
table,
as
well
as
the
table
that
I
have
up
on
the
screen,
which
is
the
one
that
I
wanted
to
go
through
informational,
wise
for
the
presentation.
E
And
so
I
don't
plan
on
going
into
great
detail
on
this
more
to
probably
allow
the
members
to
how
to
read
the
table
and
then
hit
the
highlights,
and
so
what
you
see
here
in
the
top
block
of
this
table
is
the
economic
forum's
may
4th
2021
forecast,
and
it's
just
worth
pointing
out
that
under
the
statute,
the
economic
forum
is
statutorily
required
to
prepare
this
forecast
on
or
before
may
1st.
Unless
may
1st
falls
on
a
weekend
or
holiday
and
then
it's
the
they
can
have
two
business
days
after
that
weekend.
E
So
this
is
that
their
may
fourth
forecast,
and
so
what
I've
done
in
in
in
this
summary
table
is
we
just
show
you
the
what
we
call
the
seven
major
general
fund
revenue
sources
that
the
form
actually
at
the
meeting
lists
the
forecast
prepared
by
the
agency
that
collects
the
revenue
by
economist
from
the
budget
office
and
then
joe
rio,
michael
nakamoto,
and
myself
prepare
forecasts
for
some
of
these.
These
other
majors.
E
E
So
you
can
see
this
fy
2020
column
is
actual
that's
the
actual
collections
for
that
fiscal
year,
since
it's
known
and
so
just
to
give
you
an
idea,
this
3.394
billion
dollars.
These
numbers
here
are
in
millions
of
dollars.
E
E
So
when
moving
to
fy
21,
what
you
have
is
the
forecast
here
that
was
prepared
for
this
is
the
state
two
percent
sales
tax.
So
remember,
like
the
sales
tax
rate
that
the
minimum
statewide
rate
is
six
point.
Eight
five
percent,
but
the
state
general
fund
rate
is
the
two
percent
rate
of
that
rate
and
so
in
fy
in
may,
20
may
4th
here
of
2021
the
economic
forum
based
on
the
the
forecasts
that
were
presented
to
it
for
their
consideration
approved
the
forecast
here
of
approximately
1.242
billion
dollars
for
fy
21..
E
You
can
see
back
here
this.
The
middle
block
of
the
table
is
their
december
3rd,
2020
forecast,
and
so
at
that
point
in
time,
based
on
the
information
that
was
available
and
the
assumptions
that
forecasters
were
utilizing
to
prepare
their
forecast,
they
approved
the
forecast
of
approximately
1.179
billion.
E
So
then
I'll
scroll
here
just
to
go
through
then
the
bottom
block
is
showing
you
the
difference
from
the
may
forecast
to
the
december
forecast,
so
that
may
fourth
forecast
for
sales
tax
is
approximately
63.8
million
dollars
higher
than
it
was
in
their
december
forecast
for
fy
2021..
So
that's
basically
reading
the
table.
E
So
as
you
go
across
here,
then
obviously
the
form
is
required
to
prepare
the
forecast
for
the
current
fiscal
year
and
then
each
fiscal
year
of
the
next
biennium
and
then
for
the
help.
We've
rolled
the
table
together
here
by
the
current
by
ionian,
which
is
the
2019-21
biennium
and
then
the
21-23
biennium
and
then
all
three
fiscal
years
together,
so
that
we
can
then,
as
you're
looking
at
the
may
forecast
compared
to
december
to
get
an
idea
of
how
much
revenue
is
for
each
biennium
and
then
over
the
three
fiscal
years.
E
What's
probably
the
more
important
elements,
and
probably
all
of
you
have
seen
the
newspaper
articles
or
had
a
chance
to
look
at
this
table
when
it
was
emailed
to
you
that
for
fy
21,
you
can
see
that
the
may
forecast
for
total
general
fund
revenue
sources
was
approximately
323.5
million
dollars
higher
than
the
december
forecast,
and
you
can
see
the
ones
that
the
the
sales
tax
the
gaming
percentage
fee
tax
was
the
highest
upward
revision,
as
well
as
the
commerce
tax
and
the
modified
business
tax.
E
Then
you
can
see
the
upward
revision
here
to
the
sales
tax
is
approximately
95.4
million
dollars
in
2022
and
actually
almost
102
million
dollars
in
fy
23..
Then
again,
you
can
see
the
percentage
fee.
E
The
may
forecast
is
approximately
304.5
million
dollars
higher
than
the
december
forecast.
So
for
the
29-21
biennium,
you
see
again
the
323.5
million
as
the
difference,
and
these
are
the
same
again.
Why?
Because
fy
2020
was
actual
so
when
you're
forecasting
the
29
that
2019-20
biennium
or
the
current
biennium,
for
which
the
legislature
is
actually
in
session,
it's
the
current
year's
forecast
that
is
driving
the
results,
because
the
actual
is
known
as
a
number.
E
So
that's
the
323.5
million
dollars
that
you're
picking
up
in
fy-
and
you
may
ask
well
does
that
matter,
given
that
we're
almost
at
the
end
of
fy
21,
and
the
answer
is
yes-
that
323.5
million
dollars
is
additional
general
fund
revenue
that
is
available
for
consideration
by
the
legislature
here
in
the
21
session,
and
so
that
it
can
be
appropriated.
E
It
can
be
saved
and
put
in
the
rainy
day
fund.
It
can
be
left
in
such
that
it
would
carry
down
into
the
ending
fund
balance
that
would
be
carried
forward
into
the
fy
2022,
beginning
fund
balance,
and
so
those
are
the
so
the
mechanics
of
this
are
is
that
it
does
matter
that,
when
the
form
is
adding
this
revenue
in
early
may
and
it's
you're
thinking
well,
we
only
have
like
less
than
30
days
left
in
the
session.
E
It
does
matter
it
matters
in
terms
of
the
the
budget
dynamics
that
are
going
on
in
the
legislature.
E
So
then,
moving
over
to
the
21-23
column,
you
can
see
that
you
you're,
adding
both
the
281.7
million
and
the
304.5
million
to
get
this
586.2
million
dollars
in
additional
general
unrestricted
general
fund
revenue
that
the
economic
forum
forecast
for
may
compared
to
the
december
forecast
and
so
total
for
the
three
years,
then
is
probably
what
you've
seen
in
the
paper
heard
about
is
the
approximately
910
million
dollars,
909.7
million
dollars
in
over
the
three
years
in
additional
unrestricted
general
fund
revenue
that
is
available
for
the
legislature's
consideration
here
with
less
than
18
days
left
in
the
session
here
or
whatever
it
is,
and
so
with
that.
E
Madam
chair,
I
think
that
was
the
information
that
I
wanted
to
get
out
there,
which
is
sort
of
what
what
the
information
is
in
the
table,
how
you
can
read
it
and
then
what
the
bottom
line
results
are
and
with
that
annoying,
every
that
one's
busy.
A
Have
thank
you,
mr
gundan,
especially
knowing
how
busy
you
and
the
staff
have
been.
We
really
appreciate
this.
Okay.
Do
I
have
any
questions.
A
Okay,
assemblyman
o'neil.
B
E
Sense-
the
yes,
it
does,
and
that's
it's
a
difficult
question
to
answer.
So
what
I'll?
First
start
with
is
given
the
ruling
that
you'll
first,
their
effort
and
staff
is
working
through
that
they'll
first
have
to
make
adjustments
to
the
fy,
22
and
fy23
forecast
for
the
modified
business
tax
for
the
lower
rates
that
will
have
to
come
into
play
based
on
the
supreme
court's
ruling,
and
then
there
will
be
the
the
refund
issue
for
the
taxes
that
were
paid
at
those
higher
rates
for
fy,
2020
and
fy21.
E
So
I
and
I
just
need
that
assignment
to
get
out
there,
that
that's
the
mbt.
So
then
the
commerce
tax
credits,
which
is
specific
to
your
question,
the
the
commerce
tax
credits
come
as
that
you
can
you're
allowed
to
take
up
the
50
of
the
preceding
fiscal
year's
commerce
tax
as
a
credit
against
your
mbt.
E
E
B
E
I
believe
it
it
will
be
a
relatively
small
effect
in
terms
of
the
impact
on
the
commerce
tax
credits
against
mbt.
E
The
larger
effect
is
going
to
come
from
the
mbt,
expected
collections
for
fy22
and
fy23
because
of
the
lower
rates
coming
back
into
effect
for
fy
22
and
fy
23
versus
the
impact
on
the
commerce
tax
credits
against
mbt.
B
Thank
you
chair.
I
just
wanted
to
clarify
on
the
chart
we
have
here.
Excuse
me,
it
says
percent
fees.
The
second
lie
down
percent
fees,
gross
revenue
before
tax
credit.
Is
that
mainly
the
mining
tax
in
there
or
what
is
what.
E
Yeah
I,
for
the
record
russell
with
the
physical
house
division,
that
is
the
gaming
percentage
for
tax,
and
I
apologize
it's
just
to
try
and
keep
everything
on
a
page
so
assemblywoman
that
would
be
as
if
you
look
at
the
landscape
table.
E
It
would
be
under
the
gaming
dash
state
section
of
the
first
page
of
that
table.
You
see
percent
fees
dash
gross
revenue,
so
we're
using
the
same
labeling.
It's
just
unfortunate
to
get
everything
on
the
page
you're
losing
that
gaming
state
reference,
but
you
can
see,
then
that's
that's
what
that
is.
That
is
the
the
the
monthly
tax
that
non-restricted
gaming
locations
pay
on
their
monthly
gaming
revenue
from
their
gambling
activities
that
occur
at
their
establishment.
B
A
Okay,
sorry.
G
Thank
you
so
much.
Madam
chair,
mr
ginny,
just
had
a
question
on
the
percentage
tax
for
gaming.
Obviously
the
may
projections
are
substantially
higher
than
the
december
projections
and
I
was
pretty
surprised,
I
think,
to
see
the
latest
gaming
numbers.
I
think
it
was
from
march
or
april.
I
can't
remember,
but
they
were
very,
very
high
compared
to
what
it's
been
and
so
in
looking
at
those
numbers.
G
It
looks
to
me
like
we're,
not
really
projecting
that
if
we
use
2018
as
a
baseline
of
normal,
so
to
speak,
that
we're
not
really
going
to
get
back
to
normal
on
the
gaming
percentage
really
projected
until
2023,
maybe
2022
into
2023,
and
I
just
wondered
if
you
gave
some
context
for
that
forecast,
because
it
seems
to
me
based
on
the
last
couple
of
months
and
what
I've
seen
in
the
mccarran
airport,
that
vegas
is
ready
to
explode
in
a
huge
way.
E
Yes,
thank
you
again
for
the
record
real
skin
with
the
physical
analysis
division.
Those
are
good
observations.
I
I
think
the
one
point
that
we're
pointing
out
is
that,
after
the
great
recession
prior
to
the
pandemic,
you
can
see
fy
2019,
being
hot
fy
2018
was
757.8
million;
then
it
actually
fell
in
fy
2019..
E
E
So
then,
so
when
you
see
the
growth
that
we
have
yes,
you're
correct
the
the
collections
from
march
21
business
activity
where
record
setting-
and
I
mean
that
literally
in
terms
of
you-
have
to
go
back
decades
on
the
see
some
of
that
type
of
activity
on
the
slot
side
and
the
total
actual
tax
collections.
E
But
you
have
to
be
careful
not
allowing
one
month
to
be
the
signal
for
the
remainder
of
the
future,
so
the
forecasters,
I
think,
realized
that
things
based
on
the
information
set
back
in
december
versus
knowing
where
we're
at
with
the
vaccination
occurring.
Remember
marge.
Had
the
additional
stimulus
checks
coming
out.
E
It
appears
they
might
have
been
very
beneficial
to
the
economic
activity
that
occurred
in
the
state
in
general,
let
alone
in
clark,
county
and
the
gaming
community.
So
as
the
growth
that
we
have
there,
I
think
it
sees
that
you're
going
to
come
back.
I
think
one
of
the
things
that
we
have
to
keep
in
mind
for
gaming
is
is
that
it's
still
very
dependent
upon
visitors,
and
so
when
the
forecasters
are
thinking
about.
E
Trade
shows
like
we
did
pre-pandemic
you
can
have
the
international
visitors
coming
back
in
a
sense,
restore
all
of
the
visitor
dynamic
to
that
the
las
vegas
gaming
market,
but
also
in
some
sense
to
the
northern
gaming
market.
Although
the
northern
gaming
market
was
much
less
impacted
here
in
the
last
six
seven
months,
they've
been
up
compared
to
a
year
ago
versus
being
down,
but
again
because
of
the
visitor
dynamic
is
much
different.
E
I
believe
in
the
lake
tahoe
northern
nevada
market
versus
the
clark
county
market,
and
so
hopefully
as
someone
that
was
a
semi-appropriate
response
to
your
question.
A
Okay,
so
I
wanted
to
know,
does
does,
does
housing
have
a
effect
on
this
or
where
does
does
our
housing
market
kind
of
impact
this?
If
it
if
it
does.
E
Thank
you,
madam
chair,
again,
for
the
record
rush
again
of
fiscal,
announce.
Division
now,
remember
you're,
asking
an
economist
that
type
of
question,
so
I
will
try
and
answer
the
best.
I
can
because
right
they
directly
housing
would
come
into
the
real
property
transfer
tax
that
when
houses
are
sold
right,
then
that
would
trigger
the
real
property
transfer
tax
to
attach
to
the
sales
of
those
residential
property,
and
so
that
would
be
in
a
sense
that
the
direct
tax
that
would
be
on
housing,
so
the
indirect
parts
are
right.
E
Housing
is
a
part
of
the
economy
in
terms
of
people
are
allocating
a
portion
of
their
their
wages
or
income
to
housing.
So
the
more
that
they
would
have
to
allocate
the
housing,
then
perhaps
the
less
disposable
income
there
is
for
participating
in
economic
activity
that
could
be
related
to
the
gaming
taxes,
the
sales
taxes,
the
live,
entertainment,
taxes
and
things
like
that.
So
that's
the
economist
answer,
which
is
yes.
It
has
some
direct
effects
in
terms
of
the
housing
and
the
sale,
housing
and
the
prices
of
the
sales
of
those
homes.
E
But
then
the
indirect
effect
can
be
that.
Well,
what
does
that
mean
for
the
portion
of
a
person's
budget
that
has
to
be
allocated
to
housing?
To
then
have
the
other
portion
of
their
budget?
That's
not
being
allocated
to
saving
or
can
be
cons
allocated
to
economic
activity,
to
which
our
other
taxes
would
attach.
A
E
So
when,
when
we're
preparing
our
employment
forecasts
and
our
wages
forecasts
and
our
personal
income
forecast
and
then
out
of
that
comes
well,
then
you
have
the
wages
and
income
that
can
be
used
to
buy
tangible
personal
property
to
which
the
sales
tax
attaches.
You
could
go
to
a
casino
and
spend
some
of
it
there.
You
could
go
out
to
eat,
to
which
the
sales
tech
so
you're
simultaneously
trying
to
think
about.
E
Yes,
you
can
people
are
going
to
be
moving
here,
getting
trying
to
regain
jobs
or
getting
jobs,
and
then
that
will
as
they're
buying
homes
that
will
affect
the
real
property
transfer
tax,
but
as
the
they're
doing
other
things.
E
Outside
of
that
housing
decision,
whether
renting
or
buying
that's
affecting
the
wages
or
income
that
are
available
to
be
allocated
to
the
others.
So
can
I
directly
point
at
the
forecast
and
tell
you
that
portion
of
the
forecast
is
that
portion
related
to
thinking
about
the
housing
portion
of
the
market?
E
No,
but
it
is
in
the
forecaster's
mind
when
you're
thinking
about
the
economic
dynamics
that
are
going
on
with
people
earning
wages
and
income
and
then
going
to
allocate
that
to
housing
and
non-housing
type
decisions
in
their
budget,
and
I
know
that's
probably
no
clearer
answer
than
my
first
answer
to
you,
but
that's
probably
the
best
I'm
going
to
be
able
to
give
you
as
an
economy.
No.
A
A
Okay,
do
we
have
any
other
questions
vice
chair.
D
Thank
you
so
much.
I
I
wanted
to
ask
mr
gindin.
If
there
was
anything
of
note
that
you
wanted
to
keep
us
to
keep
in
mind
or
anything
that
you
saw,
that
might
be
an
an
interesting
trend
or
emerging
trends.
I
know
that
during
the
pandemic,
we
we
saw
things
happening
in
in
certain
types
of
columns
on
numbers
that
that
we
didn't
expect.
For,
for
example,
I
think
it
was.
We
saw
a
large
number
of
sales.
D
I
think
it
was
a
sales
tax
coming
in
on
cars
and
people,
people
buying
cars,
and
we
didn't.
We
didn't
necessarily
expect
that,
so
the
con
people
were
acting
in
in
ways
that
we
didn't
always
expect.
Is
there
anything
that
we
could
take
from
these
numbers
that
are
of
note
in
in
terms
of
trends
or
con
things
that
might
be
counterintuitive.
E
Again
for
the
record
russell
again,
then,
with
the
first
class
division.
That's
a
very
good
question.
Talking
about
trends.
Trying
to
come
out
of
a
pandemic
is
a
very
difficult
thing,
because
I'll
be
honest
with
you
as
an
economist
when
march
2020
happened,
that
was
a
very
phenomenal
event,
both
in
all
facets.
E
But
this
is
an
economist
economically
to
have
something
like
that
occur
where
supply
curves
have
to
be
taken
out
of
the
economy
and
thus
demand
in
a
sense
along
with
it,
and
then
we've
slowly
been
seeing
that
come
back,
and
then
I
think
we
watch
that,
and
then
we
see
where
the
federal
stimulus
programs
are
out
there,
helping
business,
helping
citizens
attempting
to
help
state
local
governments.
E
How,
and
when
does
that
money
get
in
there,
because
clearly,
when
we've
been
seeing
the
monthly
or
for
the
quarterly
taxes
numbers
as
they've
come
in,
you
can
clearly
go
see
that
and
I
believe
that's
what
you're
going
to
see
you
saw
in
the
march
gaming
numbers
was
the
stimulus
money
was
helping,
I
believe,
probably
when
taxation
next
week
releases
the
march
taxable
sales
numbers
you're,
probably
going
to
see
some
very
phenomenal
numbers
there.
So
what
I
would
the
way
I
would
answer
your
question.
E
Some
woman
is,
we
have
to
be
careful
as
we
see
these
numbers
come
out
each
month
to
not
possibly
go.
Oh,
my
gosh.
That
is
great
and
that's
our
new
trend,
the
step
back
and
evaluate
what
might
have
been
in
there
driving.
The
number
was
that
the
month
stimulus
checks
come
out.
E
Is
that
and
and
so
to
be,
to
try
and
just
temper
as
you're
looking
at
each
month
or
quarters
numbers
that
they
come
out
to
step
back
and
evaluate
the
number
in
the
context
of
what
was
also
out
there
and
thus
right
we're
still
waiting
to
get
the
full
guidance
from
the
u.s
treasury?
On
the
additional
money
that
the
state
will
get
and
the
local
governments
will
get
and
then
right
for
elected
officials
to
decide
how
to
use
that,
then
that's
what
we'll
have
to
watch
is
that
money
starts
to
get
into
the
economy.
E
What
will
that
mean
for
economic
activity
and
the
taxes
that
we
have
attached
to
that?
I
think
the
one
of
the
things
that
we
were
waiting
to
see
is
like.
I
talked
about
the
midweek
coming
back
in
that,
but
you
go
look
at
the
live
entertainment
tax
here,
it's
it's
not
that
major
of
a
general
fund
revenue
source,
even
pre-pandemic,
around
130
million.
But
if
you
go
look
at
the
forecasts
for
that,
it's
clearly
just
been
one
of
the
taxes
in
the
in
the
industrial
sector,
tied
to
the
text.
E
That's
been
devastated
in
this
pandemic
and
so
to
start
to
see
that
come
back
and
we
we
are
starting
to
see
some
concerts
being
listed
and
sold
out
almost
immediately
in
the
las
vegas
area.
So
those
are
the
things
I
think
we're
looking
at
is
to
see
things
like
entertainment
and
some
of
the
other
types
of
economic
activity
come
back
and
then
see
what
does
that
mean
for
the
numbers
that
get
reported
for
those
tax?
So
I
know
that's
not
probably
the
best
answer
to
question,
but
that's
what
we're
looking
for.
D
I
appreciate
that
that's
really
helpful,
because
I
know
that
especially,
I
think
the
first
thing
half
of
us
did.
I
imagine
at
the
bottom
of
march,
was
call
you
and
what
are
we
seeing
and
what's
happening,
and
it
was
a
lot
of
we
don't
we
don't
know
yet
and
there's
a
lag
between
when
we
collect
our.
You
know
when
people
spend
and
then
when
the
taxes
are
emitted
and
depending
on
what
kind
of
tax
it's
a
different
remittance
schedule,
so
sometimes
we're
looking
monthly,
sometimes
you're,
looking
cordline
and
such
like
that.
D
B
Thank
you
thank
you,
chair
and
thank
you
for
the
well
I'm.
I
really
appreciate
all
this
information.
Not
gonna
lie
to
you
I'll,
probably
be
giving
you
guys
a
call
when,
when
it's
a
little
bit
calmer,
but
I
think
that
might
be
a
little
bit
later,
I've
got
two
questions.
B
The
first
is
based
upon
the
question
earlier
from
chair
cohen,
when
it
came
to
3055
the
real
property
transfer
tax.
I
know
that's
not
necessarily
exactly
related
to
her
question,
but
just
wondering
if
that
is
something
just
to
be
aware
of,
if
that
is
kind
of
connected
to
that
answer
that
you
gave
earlier
when
it
came
to
real
estate
or
if
that
is
a
completely
different
thing,
and
I
am
misunderstanding
that
distinction
and
then
I'll
have
a
second
question.
That's
not
related
to
the
real
property.
B
If
chair
cohen,
would
would
like
me
to
ask
that
later.
E
Again
for
the
record
again,
I'm
not
I
apologize.
So
I'm
not
sure
I
I
follow
the
question
there
with
regards
to
the
real
property
transfer
tax.
B
E
Yeah
I
mean,
I
think,
what
you're
we're
all
seeing
what's
going
on
with
the
housing
markets
and
possibly
the
housing
prices,
and
so
that's
when
you
see
the
forecasts
that
were
put
together
there,
that
we
have
it
basically
staying
at
around
that
120
225
million
range
over
the
three
years,
but
having
it
falling
back
slightly
in
fy
2023.
Just
because
of
thinking
that,
what's
going
on
with
the
housing
prices
and
hopefully
supply
will
start
to
come
back
in
terms
of
the
building.
E
But
it
is
the
tax
that
is
related
and
it's
not
only
the
sale
of
residential
property
right.
It
could
be
non-residential
and
commercial
property
that
sells
that
transf
triggers
the
real
property
transfer
tax.
But
I
think
when
you
look
at
that.
E
Where
we
knew
the
information
almost
through
the
first
three
quarters
of
fy21,
when
we
were
doing
the
forecast
for
fy21,
so
that
124
million
dollars
that
you
see
forecast,
there
is
probably
a
pretty
solid
number,
although
actual
still
could
come
in
below
or
above
that
forecast,
because
we
still
wait
to
collect
the
last
quarter.
But
then
I
think
it's
not
unreasonable
to
think
on.
E
What's
going
on
that
that
the
sales
of
residential
property
and
the
prices
of
those
are
going
to
be
continue
to
be
somewhat
good
and
but
then
yet
probably
the
prices
will
fall
back.
Some
in
fy
2023
would
be
the
assumptions
that
are
lagged
behind
those
revenue
sources.
So
I
don't
know
if
that
answered
your
question
and
if
not,
please
let
me
know-
and
I
can
attempt
to
do
better.
B
No,
you,
you
were
able
to
understand
my
very
befuddled
and
confused
questions.
So
thank
you
very
much
for
for
clarifying
that
information
and
then
my
second
question,
if
I
may
chair
cohen,
thank
you
again
remember
that
I'm
incredibly
confused
by
some
of
the
stuff.
At
times
I
didn't
see
anything
that
had
to
do
with
the
marijuana
tax.
I
don't
know,
if
is
that
a
decision
that
the
economic
forum
does
not
utilize
or
is
that
possibly
used
in
other
areas,
and
maybe
it
is
there,
and
I
just
didn't
see
it.
E
No
you're
not
seeing
it
correctly
so
because
both
of
the
15
wholesale
marijuana
excise
tax
and
the
10
percent
retail
marriage
bonus.
They
are
not
unrestricted
general
fund
revenue
sources.
Thus,
under
the
statutory
provisions
for
the
economic
forum,
they
are
not
required
to
prepare
forecasts
for
either
of
those
marijuana
excise
taxes.
E
So
that's
why
you
don't
see
them
on
the
sheets,
but
there
were
forecasts
prepared
for
both
of
those
revenue
sources
and
they
are
prepared
through
by
your
staff,
the
text
team,
as
well
as
the
economist
from
the
budget
office,
and
then
we
interact
to
come
up
with
a
consensus
forecast
and
we
had
a
meeting
between
staff
from
the
department
of
taxation
and
staff
from
the
ccb,
the
cannabis
compliance
board,
and
so
the
I
just
wanted
to
get
that
out
there,
that
there
are
forecasts
being
prepared
by
being
prepared
for
the
excise
taxes
on
marijuana.
E
But
they
are
not
required
to
be
done
by
the
economic
forum,
but
staff
from
the
budget
office
and
fiscal
analysis.
Division
have
developed
process
where
we
do
our
independent
forecasts
and
then
get
together
and
come
up
with
a
consensus
that
was
done
for
back.
In
the
fall
for
the
consensus
forecast
that
was
then
used
by
the
governor
and
executive
budget,
and
then
we
did
that
for
a
revised
consensus
forecast
that
will
be
used
as
a
forecast
for
the
fy21
and
fy22
and
fi
23.
That
will
be
used
for
the
legislatively
approved
budget.
D
So
I'm
going
to
beg
the
question,
tell
us
more
then
what
what
do
those
forecasts
look
like?
I
know
that
when
we
were
first
trying
to
stand
up
the
marijuana
program,
the
best
you
all
could
do
was,
I
think,
look
at
weed
maps
so
now
that
we've
come
a
little
bit
further
into
this.
I
guess
tell
us
more
about
those
projections.
E
Yes,
I
don't
have
the
actual
numbers
I
can
see
if
I
can
try
and
pull
them
up
here,
while
I'm
talking,
let's
just
say
that
apparently
people
were
dealing
with
the
pandemic
through
cannabis,
with
thc
in
it,
because
I
think
it
began
somewhat
like
the
last
early
last
summer
that
we
started
seeing
the
10
excise
tax
generating
around
7
million
a
month,
possibly
on
average,
and
so
that
was
a
significant
jump
in
when
you
chart
this
and
look
at
it,
and
so
our
expectation
was
as
well
is,
that
is,
that
sort
of,
like
yeah
people
trying
to
get
through
the
pandemic
by
utilizing
marijuana,
and
so
is
it
our
concern?
E
Was
it?
Was
it
a
transitory
type
thing,
or
was
this
sort
of
some
kind
of
permanent
shift
and
the
marijuana
program?
Was
there
that's
fully
developed
or
it's
still
developing,
but
that's
much
more
is
starting
to
mature
and
the
level
of
supply
and
demand
is
larger
than
what
it
was.
E
And
so
when
we
went
and
looked
at
that
it,
the
trend
has
that's
one
where
I
can
use
the
trend
that
the
the
level
of
tax
being
generated
by
the
ten
percent
retail
tax
has
held
up
and
so
and
thus
corresponding
with
that.
We
see
the
15
wholesale
tax
doing
better
than
what
we
probably
would
have
originally
thought
when
the
pandemic
first
had
its
effects
and
back
in
march
april
and
may,
and
so
the
forecast
for
both
the
10
and
the
15
here
in
may
were
also
well.
E
The
15
percent
was
revised
up
more
than
the
10
percent
in
the
mayfar
cast
compared
to
the
december
forecast.
So
when
we
did
our
december
forecast,
we
had
those
months
where
it
had
shifted
up
to
a
new
level,
and
so
the
forecasters
were
incorporating.
That
is
that
it's
not
just
a
transitory
thing.
E
It
seems
to
be
some
kind
of
semi-permanent,
a
permanent
shift
in
the
demand
and
consumption
of
marijuana
products,
and
but
we
were
missing
on
the
15
wholesale
side,
and
so
hopefully
that
answers
your
question
that
we
have
seen
those
two
revenue
sources
shift
up
in
the
pandemic
and
been
able
to
sustain
sort
of
those
types
of
levels
for
consumption.
E
Whereas
the
15
wholesale
x
tax
is
forecast
to
be
somewhere
around
64
million
dollars
for
fy
21.,
65.5
million
dollars
in
fy
2022
and
69
million
dollars
in
fy
2023..
E
So
it's
approxim,
you
know
it's
getting
close
to
that
mid.
95
million
dollar
range
by
the
end
of
the
forecast
is
the
expectation
based
on
the
analysis
done
by
each
of
the
independent
forecasters
and
the
consensus
that
was
arrived
at
between
budget
and
fiscal.
E
So
hopefully,
some
woman
that
answers
your
question
on
the
marijuana
taxes.
A
She's
nodding,
okay,
any
other
questions:
okay,
oh
assemblywoman,
bilbray,
axelrod,.
B
Thank
you
for
that,
and
I
I
just
it
sort
of
occurred
to
me
when
you
were
mentioning
how
people
dealt
with
the
pandemic
and
where
am
I
finding
liquor
sales
alcohol
fails
on
this.
E
So
it's
on
page
three
of
the
table:
the
landscape,
one
under
other
taxes.
Second,
one
down
gl
three:
zero:
five:
zero
and
again
that's
the
tax,
not
the
sales
so,
and
so
remember,
the
tax
is
composed
of
four
different
components,
with
different
rates
on
those
components:
beer
liquor
from
zero
to
four.
What
is
it?
Fourteen
percent
fourteen
percent
to
twenty
two
percent
and
then
over
twenty
two
percent,
and
that
those
percents
are
alcohol
by
volume?
E
So
you
can
see
the
tax
collections
there
that
it
actually
did
go
down,
and
I
think
that's
there's
that
was
expected
in
the
pandemic
just
again,
because
right
when
you
you
take
the
visitors
away
from
down
south,
where
we
have
the
30
35
million
35
million
visitors
coming
in
and
they're
no
longer
coming
in
at
those
numbers,
then
we,
our
expectation,
was
that
things
like
cigarettes,
other
tobacco
marijuana
and
liquor
would
potentially
go
down
and
some
of
them
did
some
of
them
held
up
better.
E
I
think,
then,
when
we
were
looking
at
this
back
in
the
march
april
may
june
july
period
of
camp
of
their
fy2.
Excuse
me
calendar
2020
and
then
start
monitoring
them
and
some,
so
some
of
them
were
impacted,
as
we
expected
others
weren't,
possibly
expected
as
much
one
another.
E
One
of
the
sort
of
things
that
was
hard
for
us
to
figure
out
is
that
cigarettes
seem
to
hold
up
better
than
we
would
have
thought
taking
all
the
visitors
or
a
large
portion
of
the
visitors
out
of
the
state
and
so
liquor
did
get
affected.
But
what
you
can
do
is
liquor
is
a
tough
one
again
as
an
economist,
because
the
beer
category
and
coal
is
it's
technically,
we
call
it
beer,
but
it's
malt
beverages
and
and
beer.
So
right
with
you,
see
all
these
seltzers
and
these
multi
beverages
coming
out
so
sales.
E
Could
the
the
tax
collections
could
stay
flat
on
that
or
go
down
as
people
are
shifting
their
consumption
patterns
right?
If
you
quit
drinking
beer
and
start
drinking
the
seltzers,
you
haven't
changed
the
tax
base
at
all
and
then,
if,
but,
if
you
move
from
beer
to
wine,
then
you're
moving
into
a
category
with
a
higher
tax
rate
and
how
hard
liquor
has
the
highest
tax
rate.
E
So
some
of
them
that's
why
this
can
be
a
hard
one
when
you're
looking
at
the
tax
collections
is
as
an
analyst,
we
have
to
go
and
look
at
all
those
four
components
and
we
actually
do
get
the
gallons
of
for
each
of
those
four
components.
So
we
can
try
and
monitor.
What's
going
on
with
the
gallons
to
see
what's
going
on
in
general,
let
alone
in
a
pandemic.
B
Thank
you
for
that
and
that's
very
interesting
I
I'm
wondering
and-
and
maybe
I
just
I
think
I
know
the
answer,
but
I'm
not
sure
I
know
the
answer
so
since
alcohol
has
the
four
different
categories
does
marijuana
too,
like
are
edibles
taxed
differently
than
flour
or
vaping
or
whatever?
Are
they
all
the
same
category.
E
There
there
are
different
categories
of
those
in
terms
of
the
types
of
marijuana
and
marijuana
project
products,
but
the
tax
rate
is
10.
The
retail
tax
is
10
of
the
value
of
the
retail
sale
of
that
taxable
marijuana
product.
So,
even
though
there's
different
types
with
different
levels
of
thc
and
on
in
in
the
edibles
versus
the
the
bud
that
you
can
smoke
and
those
we
just
taxed
10
of
the
retail
value,
then
the
15
wholesale.
E
Clearly
you
have
the
plant,
you
have
the
pre-rolls,
you
can
have
what's
called
trim,
so
there
are
different
product
lines
at
the
wholesale
level,
also
at
the
cultivation
level.
But
it's
it's
actually.
The
taxes
15
of
the
fair
market
value
of
those,
and
so
the
tax
rates
are
the
one
tax
rate
for
all
the
different
types
of
products
that
both
the
wholesale
and
the
retail
level.
D
Sorry,
I
just
saw
something
interesting
so
on
the
we
did
the
during
the
special
session.
We
went
ahead
and
authorized
the
tax
amnesty
program
and
I
see
that
our
2021
forecast,
actuals
it
looks
like
we
brought
in
about
1.5
million
dollars.
Is
that
I
want
to
say
we
thought
that
that
would
perform
a
lot
better.
D
E
No
actually
again
for
the
record
wrestling
with
the
fiscal
announce
division.
I'm
probably
missing
something
this
feminine
woman
in
not
actually
going
to
that
one.
E
Yeah-
and
so
I
didn't
go
through
that-
and
I
should
have
so
I
will
here
and
I'm
getting
feedback
on-
I
didn't
know
because
there's
a
microphone
on
or
not
so
so
the
text
amnesty
is
some
woman.
Thank
you
for
bringing
that
up,
because
that
is
actually,
I
should
have
pointed
it
out
on
my
own,
and
I
did
not
so
in
the
20
the
july
2020
special
session.
Yes,
the
legislature
authorized
the
department
of
taxation
to
do
the
tax
amnesty
program
for
90
days.
E
So
I
and
that
reminds
me-
I
need
to
ask
taxation
to
update
what
they
think
the
actual
amounts
are,
but
when
we
were
preparing
the
forecast
to
take
forward
to
the
technical
advisory
committee
to
the
economic
forum,
the
actually
the
week,
the
last
week
of
april,
the
department
of
taxation
based
on
the
information
they
had
at
that
point
in
time
year
to
date
on
the
program
that
the
actual
collections
for
the
general
fund
taxes
was
a
approximately
3.5
million
dollars.
E
So,
but
back
in
the
20
july,
2020
special
session,
based
on
the
information
we
had
available
in
the
analysis
done
by
staff
from
the
budget
office,
fiscal
analysis,
division
and
department
taxation,
our
estimated
value
for
that
tax,
amnesty
program
for
the
90
days
was
14
million
for
the
general
fund
portion.
E
So
what
we
know
then,
as
I
stated
that
at
that
last
week
of
april,
the
actual
collections
were
3.5
million.
What
based
on
the
additional
information
taxation
was
able
to
talk
to
with
staff
that
our
expectation
was
is
probably
the
total
amount
would
be
5
million,
not
the
14
million
that
we
were
expecting
during
the
special
session,
so
for
us
to
be
able
to
account
for
it
on
the
economic
forum
sheets.
E
Since
the
forecast
was
revised
from
14
to
5,
but
we
know
the
3.5
is
actual,
then
the
forecast
is
1.5
million,
because
the
3.5
million
dollars
in
actual
it's
it's
getting
deposited
with
the
the
tax,
whether
it's
sales
tax
live
entertainment,
tax,
liquor,
tax,
any
of
the
taxes
that
a
taxpayer
would
have
made
payments
under
the
amstic
program.
They
then
get
distributed
as
actual
collections.
So
those
actual
collections
are
built
into
the
actual
year-to-date
collections
and
thus
they're
built
into
the
forecast.
E
So
it
was
less
than
what
we
thought,
but
it's
not
going
from
14
million
to
1.5
million
dollars.
It's
going
from
14
million
dollars
to
5
million
for
the
general
fund
portion
of
the
amnesty
program.
A
Okay,
thank
you.
I
think
we
don't
have
any
more
questions,
but
thank
you.
We
appreciate
it
and
so
with
that,
unless
there
was
anything
else
she
wanted
us
to
know.
Mr
gundan,
I
think
we
will
move
on.
Thank
you,
we'll
move
on
to
public
comment,
seeing
no
one
in
the
room
for
public
comment
and
I
don't
believe
there's
anyone
on
the
zoom
for
public
comment.
If
we
could
go
to
the
phones,
please,
yes,.
B
B
C
Last
month
the
commission
published
their
preliminary
recommendations
and,
while
nsea
opposed
senate
bill
543,
we
largely
agree
with
the
commission's
funding
targets.
The
commission
proposed
to
reach
quote
adequate
funding
by
increasing
education
investment
by
2
billion
over
the
next
10
years.
That's
400
million
each
biennium
starting
this
session.
That's
why
nsea
believes
ajr
one
passed
in
a
30-second
special
session
would
be
a
strong
start
to
meeting
that
goal.
Ajr1
would
generate
485
million
in
new
revenue
for
nevada
annually.
It's
the
right-sized
response
to
this
session
to
the
revenue
challenges
we
face.
C
F
Yes,
well,
the
caller,
with
the
last
three
digits
three
five
eight,
please
slowly
state
and
spell
your
name
for
the
record.
You
have
two
minutes.
I
may
begin
now.
Hi
there.
My
name
is
selena
larue,
hatch,
l,
a
space
r-u-e-h-a-t-c-h,
I'm
a
teacher
and
member
of
nsca
and
wea,
and
I
am
also
calling
upon
this
committee
to
pass
ajr
one.
So
we
can
have
a
full
open
discussion
on
this
measure.
F
It
is
so
long
overdue
and
clearly
popular
with
nevada,
as
evidenced
by
the
thousands
of
emails,
hundreds
of
protesters,
hours
of
public
comment
and
overwhelming
polling
results.
You
have
all
received
since
its
introduction
last
summer
and
of
course
it
is
popular.
The
minds
of
nevada
make
a
fortune
from
our
resources,
while
paying
a
pittance
in
taxes
to
support
the
state
that
makes
those
profits
possible.
It
is
time
that
they
start
paying
their
fair
share
in
this
state.
F
All
we
are
asking
is
that
the
minds
share
in
this
sacrifice
that
they
share
a
minuscule
portion
of
their
record
profits
in
order
to
fund
the
vital
community
services
of
education
and
health
care.
It
is
bewildering
why
a
group
which
voted
for
this
last
special
session
is
unwilling
to
do
so
again,
and
I
would
like
to
echo
the
previous
caller
that
we
are
told
continually
that
a
deal
is
being
made
on
mining,
but
why
is
it
that
no
educators
are
invited
to
speak
on
this
deal?
No
doctors
are
invited
to
speak
on
this
deal.
F
No
ordinary
citizen.
It
is
only
the
mining
lobby
which
is
allowed
to
come
in
and
get
a
special
deal,
and
it
is
incredibly
frustrating
that
citizens
like
myself,
have
to
somehow
donate
hundreds
of
thousands
of
dollars
to
a
political
campaign
in
order
to
be
part
of
this
process
for
a
body
which
has
stressed
democracy
so
hard
with
your
increasing
voting
rights
bills,
it
makes
no
sense
why
you
wouldn't
trust
democracy
again
and
put
this
on
the
ballot
and
let
nevadan
have
a
say
and
let
nevadans
vote.
Thank
you.
A
Next
person
for
public
comment,
please.
A
Thank
you,
okay,
so
committee.
I
don't
think
we're
going
to
have
anything
tomorrow,
but
I
have
put
out
an
agenda
just
in
case.
So
just
you
know,
stick
around
and
and
we'll
give
you
a
call
and
and
ask
you
to
come
in.
If
we
do
need
to
have
you
come
in,
can
any
any
any
comments,
anything
nope,
okay,
seeing
none!
We
are.