►
From YouTube: 5/1/2023 - Economic Forum, Pt. 2
Description
This is the first meeting in calendar year 2023. Please see agenda for details.
For agenda and additional meeting information: https://www.leg.state.nv.us/App/Calendar/A/
Videos of archived meetings are made available as a courtesy of the Nevada Legislature.
The videos are part of an ongoing effort to keep the public informed of and involved in the legislative process.
All videos are intended for personal use and are not intended for use in commercial ventures or political campaigns.
Closed Captioning is Auto-Generated and is not an official representation of what is being spoken.
A
Hello:
okay:
we
are
ready
to
re-adjourn
the
May
1st
2023
meeting
of
the
Nevada
economic
forum.
So
the
next
agenda
item
is
agenda.
Item
number
12,
which
is
a
approval
of
the
economic
forums.
May
1st
2023
revenue
forecast
report
before
we
get
a
motion
and
a
second
proving
the
forecast,
we'll
have
Mr
Nakamoto
walk
us
through
a
summary
of
the
results.
B
Thank
you,
madam
chair
members
of
The
Forum
for
the
record
Michael
Nakamoto,
Chief
principal
Deputy,
fiscal
analyst,
with
fiscal
analysis,
division
for
this
agenda
item.
The
forecast
report
is
a
table
that
you
have
been
handed.
It's
general
fund
revenues,
economic
Forum,
May,
1st
2023,
forecast
that
once
this
agenda
item
is
approved,
we
will
make
available
to
the
members
of
the
public
as
well
as
on
Nellis,
but
we
just
need
to
go
through
these
final
steps
to
get
to
that
point.
So
in
the
table.
B
The
bottom
line
is
that
the
total
general
fund
Revenue
before
tax
credits
is
5
billion.
822
million
73
322
dollars
for
fy23
for
fy24
is
5
billion,
851
million
240
561
dollars
for
fy24
and
for
fy25
it
is
6
billion
5
million
two
hundred
fifty
thousand
three
hundred
forty
three
dollars
and
again
this
is
before
tax
credits.
B
Seventy
thousand
seven
hundred
thirty
eight
dollars
now
for
reference,
one
of
the
other
tables
that
we
have
put
together,
that
we
have
distributed
to
the
members
and
that
we
will
distribute
to
the
public
and
put
analysis
as
soon
as
the
forecast
report
has
been
approved
is
a
Fork.
It's
titled
economic
Forum,
general
fund
revenue,
forecast
comparison,
May,
1st
2023
forecast
versus
December,
5th
2022
forecast,
and
basically,
we've
done
the
math
that
everybody
is
asking.
What
is
the
difference
between
the
two
forecasts
so
before
tax
credits?
B
The
difference
between
the
the
May
and
the
December
forecast
in
FY
23
is
an
increase
of
approximately
45.1
million
dollars
in
fy24.
It
is
an
increase
of
approximately
116.4
million
dollars
and
an
fy25.
It
is
an
increase
of
approximately
95.2
million
dollars
for
a
three-year
total
of
approximately
256.7
million
dollars
that
this
forecast
is
above
the
December
5th
forecast
before
tax
credits.
After
tax
credits,
the
increases
are
approximately
50.1
million
in
FY
23,
approximately
111.5
million
in
fy24,
and
approximately
89.9
million
in
fy25
for
a
three
year,
total
of
approximately
251.5
million
dollars.
B
B
We
will
just
get
your
signatures
on
one
copy
and
get
those
out
to
the
members
of
the
legislature
and
to
the
governor
to
satisfy
the
obligation
of
this
body
to
prepare
a
report
and
honor
before
May
1st,
with
that
Madam
chair
I
would
be
glad
to
answer
any
questions
about
the
tables
or
the
the
the
report.
Thank
you.
A
B
Thank
you,
madam
chair
again,
Michael
Nakamoto
with
fiscal
analysis.
Division
for
the
record.
The
next
meeting
of
the
economic
forum
is
statutorily
required
to
be
on
or
before
December
10th
of
this
year,
and
those
are
the
first
of
the
two
mid
cycle.
Forum
meetings
where
there
are
updates
on
revenues
for
the
previous
fiscal
year,
presentations,
additional
information
that
is
presented
to
The
Forum.
There
is
not
a
requirement
for
this
body
to
provide
forecasts.
It's
mostly
just
for
information.
B
December
10th
this
fiscal
year
or
this
calendar
year
happens
to
be
on
a
Sunday
which
gives
this
body
up
until
Tuesday
the
12th
under
the
statute
to
have
the
meeting
we
don't
have
to
land
on
a
date
today.
But
if
you
want
to
give
consideration
to
having
the
meeting
on
the
11th
or
the
12th,
you
can
just
let
us
know
as
we
get
closer.
B
Typically,
the
meeting
is
actually
held
in
Las
Vegas,
either
at
the
Grand
Sawyer
building
or
wherever
the
legislature
might
actually
happen
to
have
offices,
given
decisions
that
may
be
made
this
legislative
session
about
office
space
in
southern
Nevada
for
the
legislature.
But
that
is
something
that
we,
as
your
staff,
will
work
with
each
of
the
members,
especially
as
we
get
closer
to
that
December,
10th
or
12th
date,
as
the
case
may
be.
Thank
you,
madam
chair.
A
A
A
The
public
line
is
open
and
working,
but
there
are
no
callers
at
this
time.
Thank
you,
okay,
and
with
that,
if
there's
nothing
further,
we
will
formally
adjourn
this
meaning
of
the
economic
Forum
on
May
1st
2023..
Thank
you
all
very
much.