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From YouTube: 1/26/2022 - Joint Interim Standing Committee on Revenue
Description
This is the first meeting in calendar year 2022. Please see agenda for details.
For agenda and additional meeting information: https://www.leg.state.nv.us/App/Calendar/A/
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C
C
C
A
So
well
so
will
mark
kasama
and
dennis
present
as
they
arrive.
Okay,
so
before
we
get
started,
just
want
to
do
some
simple
housekeeping
items
now
that
we
are
pretty
much
online
for
the
interim.
A
A
A
The
third
is
mail,
your
written
comments
to
fiscal
analysis,
division
and
then
the
fourth.
We
still
have
faxes,
which
is
kind
of
awesome.
You
can
fax
to
775
four
sixty
six
hundred,
all
right.
So,
additionally,
our
broadcast
and
production
services
bps
until
a
unit
has
recently
implemented
the
use
of
a
different
version
of
zoom,
the
virtual
meeting
platform
for
the
legislative
committees.
A
We
have,
I
guess,
we'll,
have
a
statement
from
brian
fernley
on
this
new
platform
who's,
our
ledge
council.
C
Yes,
thank
you.
I
just
wanted
to
go
over
a
new
what
the
committee
needs
to
do
with
regard
to
the
chat
function
in
the
with
this
new
version
of
zoom.
That's
being
used
with
this
new
platform,
the
chat
feature
is
only
to
be
used
for
technical
cast
and
production
services.
C
If
somebody
posts
to
the
chat
feature
during
the
meeting,
the
chair
will
ask
the
presenter
to
read
into
the
record
the
information
posted
to
the
chat
and
will,
at
that
time
remind
everyone
that
the
chat
function
is
to
be
used
exclusively
to
request
technical
assistance
from
bps.
C
So
again,
it
is
just
a
reminder
that
the
chat
feature
is
to
be
used
exclusively
to
request
technical
assistance
from
bps
and
not
to
communicate
among
members
of
the
committee
and
the
presenters.
A
Okay,
seeing
none
so
I
would
I'm
going
to
kind
of
you
know:
reverse
this
a
little
bit,
I'm
going
to
introduce
our
ledge
council
staff,
our
legislative
bureau
staff.
First,
before
we
get
into
committee
introductions,
we
have
our
infamous
russell
guindon,
who
is
our
chief
principal
deputy
fiscal
analyst
who's,
trying
to
leave
us
very
very
soon,
and
we
have
mr
michael
nakamoto
michael.
I
can't
see
you
on
camera.
A
So,
and
I
also
wanted
to
announce
our
committee
secretary,
who
is
from
the
fiscal
analysis,
division
miss
anna
freeman.
She
is
the
one
who
is
sending
you
all
the
emails,
the
packets
and
getting
everyone
up
to
date,
and
then,
finally,
who
we
just
heard
from
is
brian
fernley.
Our
legislative
council
who's
been
assigned
to
the
committee
from
the
legal
division
and
I'm
very
happy
to
still
have
him
a
part
of
the
committee,
and
so
now
we
will
go
and
do
committee
introductions.
C
A
C
Good
afternoon,
thank
you
chair.
My
name
is
don
tatro.
I
was
recently
appointed
to
the
senate
district
16
seat,
and
this
is
my
first
meeting,
so
I'm
looking
forward
to
it
and
just
glad
to
be
here.
So
thank
you
very
much.
C
You
chair
near
neil
sorry
about
that
assemblywoman
nathan
anderson.
This
is
my
first
session
and
I
represent
assembly
district
30,
which
is
mostly
sparks
a
little
bit
of
the
reno
area
in
washoe
county
and
very
excited
to
again
serve
on.
I
served
on
revenue
during
the
session
and
then
also
I'm
interested
on.
What's
going
to
happen
during
interim,
thank
you
so
much
for
for
sharing
it
and
looking
forward
to
all
the
discussions.
C
C
Thank
you,
chair
neil.
I
am
assemblywoman
vinisha
considine.
I
represent
the
east
side
of
las
vegas
and
a
little
bit
of
henderson.
I
just
completed
my
first
legislative
session
and
I
was
on
revenue
which
I
enjoy
a
lot
and
I'm
really
looking
forward
to
learning
more
during
the
interim
session.
Thank
you.
D
Thank
you,
madam
chair
gregory,
hayfin
assembly,
district,
36
taxpayers,
so
I'm
always
interested
in
what
we're.
C
Going
to
be
doing,
I
I've
always
enjoyed
working
with
chair
neal
as
her
as
her
favorite
assemblyman.
So
at
least
on
the
right
side
of
the
aisle
looking
forward
to
the
conversations
that
we're
going
to
have
and
and
hopefully
we
could
cut
some
of
these
taxes
right.
E
C
Thank
you,
chair,
neil
glad
to
be
serving
on
the
interim
committee.
I
did
serve
on
the
assembly
revenue
committee
during
the
session,
which
was
my
first
session.
I
am
assemblywoman
heidi
kasama,
representing
district
2,
which
is
the
west
side
of
our
las
vegas
valley
in
the
summerlin
area,
and
just
looking
forward
to
learning
more
about
the
committee
and
how
we
can
help
all
of
our
constituents.
A
A
I've
been
on
tax
or
slash
revenue
since
2011
on
the
assembly
side,
and
now
I'm
serving
as
senate
revenue
chair
on
the
senate
side,
so
my
whole
legislative
life.
I
have
been
on
some
tax
pretty
much
so
I'm
glad
to
share
it.
A
The
interim
this
is
this
will
be
the
first
time
we've
ever
had
an
interim
revenue
committee,
and
so
I
look
forward
to
being
able
to
number
one
talk
about
issues
without
having
to
shut
the
committee
down
for
the
next
committee
and
to
really
dig
deep
into
some
concepts
that
we
really
need
to
understand
to
move
our
state
forward
and
hopefully
to
modernize
our
states
that
our
state
tax
statutes
not
necessarily
cut
taxes
but
modernize
and
move
us
into
a
place
where
our
tax
statutes
represent
the
needs
of
this
state.
Minus
federal
government
assistance.
A
C
A
No,
I
think
we're
good.
I
mean
whoever
is
here
for
revenue
is
going
to
be
on
probably
towards
the
end.
If
they
have
questions
so
we
will
just
go
ahead
and
move
into
agenda
item
number
four,
which
is
the
adoption
of
the
committee
policies.
B
I'd
be
happy
to
do
that.
Madam
chair
many
members,
the
committee
policies
that
are
before
you
are
essentially
a
combination
of
the
policies
that
were
established
during
the
21
session
between
the
senate
committee
on
revenue
and
economic
development
and
the
assembly
revenue
committee,
and
they
have
just
been
adjusted
slightly
to
incorporate
for
a
joint
committee
during
the
interim
and
with
that
I'd,
be
happy
to
answer
any
questions
about
those
policies.
A
So
then
we
will
take
a
motion
to
approve
and
adopt
the
committee
policies
for
the
interim
revenue.
Do
I
have
a
first.
A
Thank
you.
So
is
there
any
discussion
on
the
motion
seeing
none?
Maybe
my
dog
is
offering
a
motion,
but
we
will
go
ahead
and
move
for
a
roll
call
vote.
Mr
real,
please
call
the
vote.
C
E
A
D
D
Okay,
great
well,
thank
you,
madam
chair
and
members
of
the
committee,
appreciate
you
inviting
me
to
speak
today
again.
My
name
is
jackson
brainard
and
I'm
a
program
principal
with
the
national
conference
of
state
legislatures
fiscal
affairs
program.
D
D
Every
state
tax
system
is
unique,
but
nevada's
differs
a
little
bit
more
significantly
from
most
other
states,
by
virtue
of
not
having
a
corporate
or
personal
income
tax,
so
might
be
worthwhile
to
review
how
other
states
fund
their
operations,
the
personal
income
tax
and
sales
tax.
Typically,
the
two
largest
categories,
followed
by
the
corporate
income
tax,
in
addition
to
nevada,
there
are
another
eight
states
that
also
don't
have
a
personal
income
tax
and
five
that
don't
have
a
sales
tax.
D
There
are
also
five
other
states
that
don't
have
a
corporate
income
tax,
in
addition
to
nevada,
but
most
of
them
do
tax
businesses
in
the
form
of
a
gross
receipts.
Tax
similar
to
nevada's
commerce,
tax
texas
has
a
margins.
Tax.
Ohio
has
a
corporate
activities.
Tax
and
washington
has
a
business
and
occupation
tax.
D
D
The
corporate
income
taxes
is
much
smaller,
but
significant
slice
around
five
percent.
Then
you
have
the
selective
sales
tax
category
that
includes
all
of
the
excise
taxes
that
are
levied
on
specific
goods
and
services.
Your
motor
fuel
tax,
your
tobacco,
alcohol,
marijuana
amusements,
the
other
tax
category,
8.4
percent,
includes
things
like
severance
taxes
on
oil
and
gas
estate,
taxes,
licensing
taxes
and
then
the
property
tax
is
the
the
largest
state
and
local
tax
revenue
source,
but
it
is
primarily
a
local
revenue
tool.
D
And
then
this
next
slide
just
illustrates
how
certain
states
can
vary
in
terms
of
their
reliance
on
these
taxes.
You
know:
states
with
extensive
mineral
resources
or
unique
tourist
attractions
are
able
to
rely
on
a
more
narrowly
based
system
than
other
states.
D
D
D
This
chart
here
from
q
shows
state
tax
volatility
scores
over
the
last
20
years,
and
you
can
see
the
states
at
the
top
like
alaska,
north
dakota
and
wyoming
experience
much
more
volatility
than
your
than
your
average
state
because
of
their
reliance
on
severance
taxes.
The
amount
of
score
was
just
slightly
above
the
national
average
5.8
based
on
their
their
score
here.
D
So
when
we
look
at
the
long-term
challenges
facing
tax
systems,
an
ever-present
issue
is
the
extent
to
which
that
they
have
not
adequately
kept
pace
with
changes
in
the
economy
and
chernobyl.
You
were
talking
about
modernization.
That's
that's
exactly
right.
That's
often
the
way
it
goes
with
tax
policy,
it's
an
ongoing
game
of
playing
catch-up
and
the
need
for
modernization
never
really
ends.
D
There
are
many
trends
that
are
affecting
the
relevance
of
major
state
tax
categories,
I'll
run
through
some
of
the
major
ones
that
states
have
been
dealing
with
here,
but
first,
a
quick
tax
tidbit.
Did
you
know
that
if
you
live
in
new
mexico
and
make
it
to
age
100,
you
can
stop
paying
income
tax.
You
just
can't
be
claimed
as
a
dependent
as
in
by
anyone
else.
So
just
a
fun
fact.
D
There
they're,
the
only
state
that
does
something
like
that,
a
little
incentive
to
keep
on
keeping
on
any
case
the
sales
tax
faces
some
of
the
most
difficult
barriers
to
modernization
and.
E
D
A
tax
that
has
been
gradually
eroded
over
time
due
to
a
number
of
factors
for
tax
policy
purists
the
ideal
sales
tax
would
fall
on
all
final
sales.
Final
consumption,
but
state
sales
taxes
do
not
really
live
up
to
that
ideal.
A
growing
number
of
consumer
purchases
are
not
subject
to
sales
tax
in
most
states.
D
It's
not
that
easy
to
see,
but
this
chart
that
I
have
up
shows
personal
consumption
of
goods
compared
to
services
over
all
the
way
back
to
the
early
1900s
back
in
the
1930s,
when
most
states
adopted
their
sales
taxes,
tangible
goods
accounted
for
most
personal
consumption
and
services
were
left
out
of
tax
bases
because
they
posed
some
trickier
administrative
challenges
and
those
exemptions
just
weren't
nearly
as
expensive,
but
today,
services
account
for
about
70
percent
of
all
personal
consumption,
and
many
of
those
transactions
are
not
subject
to
sales
tax.
D
The
digital
era
has
also
contributed
to
any
voting
sales
tax
base.
Many
tangible
objects
are
being
replaced
by
intangible
versions,
not
a
new
trend
that
you
know.
Instead
of
people
buying
a
book
at
a
bookstore,
people
are
downloading
books
onto
their
kindles,
but
only
half
the
states
still
tax,
the
tax,
digital
products
or
streaming
services
and
there's
been
a
continuing
shift
towards
electronic
commerce
as
well,
which
accelerated
through
the
pandemic.
D
D
Foreign
sellers
into
compliance,
so
still
some
revenue
left
on
the
table
there
and
then,
in
addition
to
all
these
challenges,
you
have
you
know
your
legislatively
enacted
exemptions
and
sales
tax
holidays
that
further
cut
into
sales
tax
revenues.
Most
states
exempt
groceries
things
like
prescription
medication,.
D
Corporate
income
tax
has
also
been
gradually
eroded
and
has
declined
as
a
source
of
revenue
over
the
years
used
to
be
about
9
to
10
percent
of
state
tax
collections
in
the
early
80s.
Now
it's
about
half
of
that.
Some
of
the
commonly
cited
reasons
for
this
include
an
increase
in
tax
planning
opportunities,
growth
in
economic
development
incentives
and
there's
there's
also
been
an
ongoing
shift
of
pass-through
businesses
and
s-corporations
filing
through
the
income
tax
code.
D
Our
personal
income
tax
code,
which
had
more
favorable
treatment
at
the
federal
level
until
recently
until
the
tax
cuts
and
jobs
act
was
passed.
So
roughly
90
percent
of
american
businesses
are
now
pass-throughs
and
changes
in
the
appropriate
formulas
that
states
use
to
determine
tax
liability
for
multi-state.
Corporate
taxpayers
they've
been
increasingly
altered,
altered
in
ways
that
benefits
corporations
that
have
a
lot
of
payroll
in
property
and
state
and
a
lot
of
sales
out
of
state.
D
So
increased
rates
of
teleworking
are
creating
a
number
of
administrative
and
compliance
challenges,
especially
in
populist
border
regions,
where
workers
who
may
have
lived
in
one
state
and
commuted
into
another
for
work
or
suddenly
working
from
home,
so
states
are
vying
over
who
gets
taxed
that
income
and
trying
to
answer
questions
on
like.
Where
should
employers
withhold
for
an
employee
property
taxation?
A
large
part
of
the
value
created
in
the
modern
economy,
evolves
involves
less
tangible
things
like
financial
assets
or
bits,
and
bytes
and
real
property
ownership
is
a
little
less
connected
to
wealth.
D
So
the
tax
is
not
closely
tied
to
the
ability
to
pay
principle
as
it
once
was,
and
then
you
know,
furthermore,
the
cut
the
cord
phenomenon
folks.
Switching
to
streaming
services
also
challenging
local
franchise
fee
revenues,
old
news
that
that
the
gas
tax
is
eroding
with
increased
levels
of
fuel
efficiency
and
growth
in
electric
vehicles.
D
Gambling
taxes
have
been
struggling
for
a
while
there's
been
an
explosion
of
sports
betting,
but
there's
been
also
ongoing
concern
about
the
lack
of
appeal
of
traditional
casino
games
among
younger
people.
Many
states
still
don't
have
online
game
gaming
and
the
pandemic
was
particularly
difficult
for
the
casino
industry.
D
Severance
tax
is
obviously
highly
volatile,
with
changes
in
energy
prices
and
then
tourism.
All
you
know,
tourist
taxes
lodging
meals,
the
rise
of
short-term
rentals
car
and
ride
sharing
delivery
platforms.
Those
have
all
presented
states
with
many
new
regulatory
tax
questions
and
created
some
challenges
for
tax
cap.
Existing
tax
categories
like
hotel,
lodging
car
rentals
meals,
taxes.
D
So
that's
a
broad
overview
of
some
of
the
of
the
long
term
physical
challenges
states
are
facing
and,
of
course,
the
most
recent
fiscal
challenge
came
from
the
covet
19
pandemic
state
revenues
took
a
pretty
serious
hit
in
2020,
and
forecasts
were
exceedingly
negative
going
into
2021,
so
it
seemed
like
some
of
these
tax
challenges
might
become
even
more
pressing
going
to
last
year
but
towards
the
beginning
of
2020,
or,
I
guess,
towards
the
end
of
2020.
D
Economic
conditions
started
to
pick
up
more
than
anticipated,
and
there
was
another
round
of
federal
funding
for
states
in
the
form
of
the
american
rescue
plan
act.
So
states
were
suddenly
in
a
pretty
strong
fiscal
position
for
the
most
part,
with
legislative
offices
reporting
to
us
that
they
were
experiencing
positive
revenue
growth
and
had
cautious
optimism
about
their
futures
fiscal
situations.
D
In
fact,
states
like
california,
idaho,
maryland
minnesota,
have
announced
significant
budget
surpluses
going
into
2022.
I
wouldn't
necessarily
say
it's
all
clear
skies
ahead.
A
lot
of
that
robust
growth
is
attributable
to
those
one-time
federal
transfers
and
while
year-over-year
growth
from
2020
to
2021
was
quite
strong.
You
have
to
consider
the
starting
point.
You
know
the
states
were
in
a
recession
in
2020,
so
compared
to
2020
revenue,
growth
was
was
great,
but
compared
to
pre
the
pre-pandemic
situation.
It's
not
quite
as
robust.
D
The
recession
did
have
a
very
uneven
impact
on
states
and
localities.
There
are
still
some
concerns
around
things
like
employment
participation
rates
and
inflation
and
state
employment
too.
I
was
reading
a
report
from
the
tax
policy
center
that
noted
that,
as
recently
as
october,
2021
state
and
local
governments
still
employed
nearly
one
million
fewer
people
than
they
did
before
the
pandemic.
D
But
things
are
looking
pretty
good
at
the
moment
and,
historically
speaking,
states
have
been
more
likely
to
make
tax
changes
that
will
result
in
an
increase
in
revenue
during
and
after
recessions
and
they're
more
likely
to
cut
taxes
when
times
are
better.
So
this
improved
fiscal
outlook
really
set
the
stage
for
a
lot
of
different
types
of
tax
relief
efforts
in
2021,
so
I'll
get
into
some
of
those
next
but
another
fun
fact.
Before
I
get
into
that,
did
you
know?
D
Roughly
7
million
children
disappeared
after
the
passage
of
a
1985
tax
law,
but
it's
not
as
bad
as
it
seems.
What
happened
was
that
taxpayers
used
to
not
have
to
submit
a
social
security
number
for
their
dependents,
so
many
claimed
fake
children
to
get
a
deduction
when
a
new
law
passed
requiring
social
security
numbers.
Some
seven
million
fewer
dependents
were
claimed
the
next
year
according
to
irs
data,
but
getting
into
our
2021
tax
trends.
D
Ncsel
sends
out
surveys
to
the
state
legislative
fiscal
offices
to
keep
track
of
all
significant
revenue
changes
that
have
been
enacted
throughout
the
year.
Thank
you
to
russell
for
submitting
nevadas
we're
still
waiting
on
a
few
states
to
submit
before
we
can
put
out
the
report
for
2021,
but
we
do
have
a
pretty
comprehensive
picture
of
what
happened
last
year,
which
also
contains
many
hints
about
what
we
might
see
from
states
this
year
as
well.
D
D
There
were
many
other
more
targeted
forms
of
tax
leave
relief,
in
addition
to
rate
cuts
on
the
individual
side
of
things.
We
saw.
Many
states
provide
for
some
kind
of
preferential
treatment
of
coronary
virus
relief
payments,
as
well
as
unemployment
insurance
benefits
for
a
limited
period
of
time
as
well.
D
Georgia
provided
a
140
million
tax
cut
in
the
form
of
an
increased
standard
deduction.
Nebraska
approved
a
phase
out
of
income
taxes
on
social
security
income.
We
also
saw
quite
a
few
states,
take
action
to
increase
the
value
of
their
earned
income,
tax
credits
or
child
tax
credits
or
implement
new
ones
which
are
generally
geared
towards
low
income
taxpayers.
D
D
California
also
enacted
a
golden
state
stimulus,
tax
rebate
program
which
provided
a
600
payment
per
tax,
return
for
recipients
of
the
state
earned
income
tax
credit
both
of
those
were
pretty
substantial
relief
programs,
idaho
and
new
mexico
also
created
similar,
but
smaller
rebate,
programs
for
certain
taxpayers,
and
then
we
saw
a
handful
of
states
create
new
sales
tax
holidays
like
arkansas
florida
and
tennessee.
D
Relief
for
businesses,
particularly
small
businesses,
was
also
a
priority
in
many
states
in
2021.
One
prominent
issue
has
been
whether
states
would
conform
to
the
tax
treatment
of
the
paycheck
protection
loan
program
that
was
included
in
the
cares
act.
The
federal
government
determined
that
the
loans
weren't
taxable
and
also
that
expenses
funded
by
those
loans
were
deductible
for
income
tax
purposes.
D
This
was
a
bit
more
of
a
headache
when
states
were
more
pessimistic
about
their
budget
conditions,
since
allowing
that
double
tax
benefit
was
pretty
costly
about
500
billion
in
those
ptp
loans
would
translate
to
billions
in
deductible
expenses,
but
states
generally
conformed
to
the
federal
treatment.
At
least
13
states
passed
legislation
to
do
so
in
2021,
and
then
there's
also
been
a
recent
rise
in
new
entity
level.
D
At
the
start
of
this
year,
seven
states
had
adopted
these
new
entity
tech
level,
taxes
which
are
fully
deductible
at
the
federal
level
and
then
created
offsetting
state
income
tax
credits,
which
is
a
way
to
provide
relief
for
businesses
that
can
fully
deduct
those
expenses
at
the
federal
level.
And
then
this
year
we
saw
another
14
additional
states
pass
legislation
to
create
these
new
salt
cap
workarounds
for
their
pass-through
businesses.
D
For
the
most
part,
businesses
are
able
to
elect
whether
they
want
to
be
taxed
in
this
manner.
I
think
connecticut
is
the
only
state
that
made
it
mandatory
and
then
we
also
had
you
know
many
states
report
continued
surrounding
other
federal
tax
changes
such
as
conforming
to
expanded
deductions
for
net
operating
losses
or
continuing
to
respond
to
changes
that
were
contained
in
the
tax
cuts
and
jobs
act
way
back
in
2017.
D
and
then,
finally,
on
the
business
relief
front,
tax
credits,
quite
a
few
states
expanded
or
created
new
job
creation
or
investment
tax
credit
programs
there's
also
been
a
surge
in
expanded
or
new
film
tax
incentives,
which
had
been
falling
out
in
favor
in
recent
years.
Due
to
questions
about
their
effectiveness,
but
it
seems,
states
are
trying
to
bolster
that
industry
after
a
tough
period
of
time
for
entertainment,
production.
D
So
moving
along
to
new
taxes
and
other
revenue
increases
that
have
occurred
over
the
last
year,
excise
taxes
were
pretty
popular
in
2021
cannabis
and
sports
betting
in
particular.
Those
were
both
trendy
topics
leading
into
the
year
and
continue
to
receive
a
good
deal
of
attention.
D
Most
of
the
sales
tax
states
had
already
implemented
these
going
into
2021,
but
the
three
remaining
holdouts
florida,
missouri
and
kansas
all
passed
legislation
to
join
the
fold
and
now
that
they
have
these
laws
in
place,
a
growing
number
of
states
are
expanding.
The
definition
of
a
marketplace
facilitator
or
looking
to
require
marketplace
facilitators
to
collect
other
kinds
of
taxes
that
are
applied
on
certain
transactions,
such
as
lodging
taxes
or
9-1-1
fees.
D
A
handful
of
states
increased
taxes
on
higher
earners,
new
york
and
d.c
did
so.
The
legislature
in
massachusetts
approved
a
constitutional
amendment
that
will
go
to
voters
to
create
a
new
millionaire's
tax,
washington
state
again,
a
state
without
an
income
tax
created
a
new
capital
gains
tax,
that's
estimated
to
generate
about
a
half
a
billion
dollars
in
the
next
fiscal
year.
D
D
Then
one
of
the
more
hotly
debated
areas
of
tax
policy
this
year
was
in
the
digital
taxation
realm
with
certain
tech
and
social
media
companies
performing
quite
well
through
the
recent
economic
downturn.
There
were
several
states
that
proposed
various
types
of
taxes
that
aimed
to
get
at
some
of
the
profits
being
generated
by
the
data
economy.
D
D
At
least
nine
states
propose
something
along
these
lines,
but
the
only
state
that
passed
anything
was
maryland,
which
took
the
gross
receipts,
tax
opposed
approach
that
was
quickly
challenged
and
is
currently
being
litigated.
And
basically
the
question
is
whether
it's
constitutional
to
subject
digital
advertising
to
different
tax
treatment
than
regular
advertising.
D
But
some
of
the
other
proposals
don't
necessarily
come
with
the
same
legal
questions
but
in
any
case,
the
revenue
potential
of
these
taxes
is
pretty
significant,
maryland
estimated
that
their
digital
advertising
measure
would
generate
up
to
120
million
annually
by
fiscal
year.
2025
and
it
seems
like
some
of
the
states
might
be
waiting
to
see
what
comes
of
the
legal
battle
before
taking
further
action
and
that
process
could
take
a
while.
D
So
I
think
you
know
this
could
will
probably
be
an
area
of
interest
in
2022,
but
some
states
may
not
feel
the
pressure
to
rush
into
anything
given
their
relatively
strong
budget
situations
so
getting
into
2022.
But
first
final
non-sequitur
did
you
know
astronaut
jack
schweiter.
The
command
module
pilot
for
apollo
13
got
the
assignment
at
the
last
minute
because
of
health
concerns
surrounding
another
astronaut
and
in
the
rush
he
neglected
to
file
his
taxes
according
to
a
transcript.
At
the
moment
he
realized
his
mistake.
D
D
So
what
else
might
we
see
on
the
tax
front
in
2022
heading
into
2021?
I
was
predicting
that
we'd
see
a
ton
of
tax
increases
from
states
in
light
of
serious
revenue
concerns
at
the
time
which
left
me
feeling
a
little
silly
after
the
picture
changed
so
dramatically,
but
you
know
I'll.
Try
it
I'll,
try
again
it's
kind
of
fun
to
make
predictions
when
you
can't
be
proven
wrong
immediately.
D
I'd
say
given
state
strong's
fiscal
positions
in
combined
with
this
year
being
an
election
year,
I
think
it's
safe
to
say
that
we'll
see,
tax
relief
continue
to
be
a
top
priority
and
the
income
tax
cutting
trend
will
continue.
There
are
several
states,
including
georgia,
north
carolina
west,
virginia
and
mississippi
that
have
been
seriously
talking
about
completely
scrapping
their
personal
or
corporate
income
tax,
which
no
state
has
has
succeeded
in
doing
for
decades.
D
Quite
a
few
more
states
have
proposed
a
reduction
in
marginal
income
tax
rates
in
their
annual
state
of
state
speeches,
so
to
the
extent
that
these
cuts
are
driven
primarily
by
one-time
revenue
surpluses,
some
of
these
are
pretty
dramatic
reductions.
It
seems
like
those
states
could
risk
getting
a
little
over
their
skis.
D
A
You
know
we
had
these
wage
gains
right,
these
one
drop
and
stimulus
payments
to
folks,
but
now
that
you
know
goods
prices
of
goods
are
increasing,
I
mean
it's
eating
into
that
wage
gain
and
so,
at
the
end,
hey
right
when
you
say
like
a
group
that
are
in
poverty,
kind
of
made
it
a
little
a
little
ways
ahead.
You
know
now
when
they
go
grocery
shopping
or
any
other
thing.
You
know
housing,
food
gas.
A
So
yeah
chair.
C
A
D
Yes,
let
me
find
my
place
here
and.
D
Okay,
I
think
this
is
where,
where
I
was
regarding
the
taxation
of
digital
products-
and
this
is
becoming
a
an
increasingly
consequential
topic
from
a
fiscal
standpoint-
non-taxable
digital
products
are
increasingly
replacing
similar
taxable
tangible
products
or
traditional
communal
communication
services,
and
people
are
opting
for
streaming
services
rather
than
cable
or
cloud
computing.
Over
box
software,
a
slew
of
states
have
expanded
their
sales
tax
to
digital
goods
and
streaming
video
within
the
last
few.
C
D
D
Again.
States
and
localities
have
seen
revenue
streams
from
cable
companies
decline
because
streaming
services
do
not
use
rights
of
way
for
which
localities
charge.
Other
providers
some
jurisdictions
tax,
streaming
service
providers
through
another
provision
of
the
tax
code.
D
E
D
Survey
show
that
there
are
only
five
states
that
can
be
sent
to
tax
services-
broadly
hawaii,
new
mexico,
south
dakota,
washington
and
west
virginia
we've
seen
several
states
extend
their
sales
taxes
to
specific
services
over
the
past
few
years.
Things
like
health
clubs,
laundry
cleaners
but
states
that
have
attempted
to
expand
their
sales
tax
to
services
broadly
have
historically
found
it
quite
challenging.
D
Several
have
tried
and
failed
after
a
major
pushback
in
recent
years,
and
then
I
think,
we'll
also
continue
to
see
states
legalizing
adult
use,
marijuana
sports
betting
online
gambling
excise
tax
increases
tend
to
be
a
little
bit
more
politically
palatable,
so
to
the
extent
that
any
states
need
to
raise
revenue
around
the
edges,
excise
taxes
tend
to
be
a
fairly
low
hanging.
Fruit
and
again,
there
are
you
know,
platforms
and
you
know
other
challenges
facing
these
tax
categories.
That
states
may
look
to
address.
D
Then
a
few
more
issues
that
might
come
up
property
tax.
Several
states
are
discussing
property
tax
relief
right
in
light
of
rising
housing
prices.
There's
also
been
a
little
chatter
in
few
states
struggling
with
affordable
housing
about
implementing
taxes
on
second
homes
or
looking
to
non-profits
for
local
revenue,
corporate
apportionment.
D
There
may
be
some
increased
attention
paid
to
state
apportionment
formulas
for
corporate
taxpayers
and
more
debates
and
attention
paid
towards
market-based
sourcing
and
when
states
can
assert
nexus
for
corporate
income
tax
purposes
and
then
the
new
entity
level
taxes
as
workarounds
to
the
federal
cap
on
state
and
local
deductions
will
probably
continue
to
grow.
In
the
absence
of
any
federal
activity,
the
irs
could
potentially
change
its
position
and
there
are
still
talks
surrounding
the
potential
elimination
of
the
salt
cap
as
part
of
the
built
back
better
package.
D
So
assuming
these
taxes
do
continue
to
grow,
there
might
be
calls
for
states
to
devote
more
effort
to
uniformity,
since
these
taxes
tend
to
tend
to
vary
slightly
by
state
and
then,
of
course,
responding
to
other
types
of
federal
activity.
The
buildback
better
proposal
contains
a
large
number
of
tax
provisions.
That
would
require
state
attention.
D
So
if
there
is
movement
on
that,
it
will
be
undoubtedly
a
top
issue
this
year
and
on
that
note,
I'll
wrap
it
up
happy
to
answer
any
questions
if
you've
got
them
and
if
you
have
any
questions
in
the
future
about
what
other
states
are
doing
on
any
particular
fiscal
in
items
that
are
of
interest
to
you,
please
don't
hesitate
to
reach
out
for
to
me
or
our
fiscal
affairs
team
and
we're
happy
to
do
some
research
for
you
all.
That's
what
we're
that's
what
we're
here
for
so
thank
you.
Thank.
C
Thank
you,
chair
neal,
and
thank
you,
mr
brainerd,
for
the
for
the
detailed
powerpoint,
along
with
the
little
speed
bump
there
in
the
middle.
So
you
did
a
great
job
towards
the
end.
So
thank
you
so
much
for
that
information.
I
do
have
two
questions
and
the
first
one
has
to
do
from
slide
23
and
it
was
again
repeated
in
slide
30
and
it
had
to
do
with
the
sales
tax
based
broadening.
C
Was
that
an
increase
of
the
sales
tax,
or
was
that
that
there
would
be
additional
services
that
were
going
to
be
sales
taxed,
and
I
realized
that
these
are
all
proposals
in
other
states,
but
just
was
wondering
if
there's
a
way
to
possibly
go
a
little
bit
deeper
deeper
into
that.
What
what
sales
tax,
based
broadening
really
meant.
D
Sure
and
chair
nero
assembly,
member
anderson
that
that's
removing
an
exemption
for
something
that
is
currently
exempt
from
sales
tax,
not
creating
a
new,
a
new
tax
on
them
or
something
so
so
you
know
I
I
listed
a
few
specific
digital
cert.
Most
states
specifically
exempt
trying
to
get
my
wording
right.
Most
states
do
provide
a
specific
list
of
exemptions
and,
and
the
states
that
do
tax
services
broadly
tend
to
have
a
list
of
every.
C
Statutes
were
initially
written
and,
if
I
may
follow
up
chair
neil,
thank
you
and
thank
you
for
that
clarification
that
that
helped
me
out
a
lot
really.
Removing
the
exemptions
totally
makes
sense
so
that
that
helped
me
out
tremendously
with
understanding
that
a
little
bit
more.
My
second
question
is
actually
not
part
of
that
same
slide,
so
I'm
just
going
to
jump
in
it
has
to
do
with
slide
28
in
the
excise
taxes.
C
From
your
analysis
of
these
or
from
your
guys's
discussion
about
these
excise
taxes,
were
they
being
proposed
as
revenue
generating
or
is
trying
to
get
people
to
stop
the
those
vices
for
lack
of
a
better
term
at
most.
The
time
that
that
kind
of
is
what
happened
with
the
tobacco
and
or
some
of
the
other
items
that
have
been
used
in
the
past
for
the
excise
tax.
So
I
don't
know
if
you
guys
did
that
deep
of
a
dive
into
this
yeah.
D
There's
there's
kind
of
a
contradiction:
isn't
there
something
in
terms
of
you
know
you
impose
the
tobacco
taxes
way,
but
then
you
become
kind
of
reliant
on
the
revenue,
especially
marijuana.
I
think
the
the
goal
is
you
know.
In
addition
to
you
know,
the
benefits
of
decriminalization
revenue
is,
is
the
goal
with
e-cigarettes?
D
Those
just
have
been
not
been
taxed
so
that
most
of
the
states
are
establishing
new
taxes
on
those.
So
I
disincentivizing
consumption
is
probably
part
of
the
gold
and
they
don't
raise
that
much
revenue
in
the
big
picture.
The
cigarette
taxes
don't
but
it
in
general
I'd
say
the
excise
tax
increases
were
for
revenue
rather
than
today,.
C
Great,
thank
you.
Thank
you
so
much
for
that
clarification
because
I
do
think
that's
a
much
better
term
of
dissuading,
as
opposed
to
the
other
thing.
Thank
you
so
much
and
thank
you
chernio
neil,
for
that
much
time.
C
Vice
chair
cohen,
thank
you
sharon.
Thank
you
for
the
presentation
getting
back
to
that
same
slide
with
the
excise
taxes.
I
was
kind
of
surprised
to
see
transportation
kind
of
mixed
in
with
the
city.
Taxes
let's
say
is,
that
is
that
transportation
is
in
flights
or
people
who
are
taking.
You
know
taxes
on
taking
the
bus
like
what
generally,
what
is
that
with
transportation.
D
It's
a
vice
chair
going,
it's
generally
gas
tax
increases,
just
increases
the
motor
fuel
rate
and
it's
not
a
syntax,
but
you
know
it
just
included,
for
you
know,
census,
reporting
and
the
way
we
we
use
selective
sales
tax
categories.
We
lump
motor
fuel
in
with
the
other
syn
taxes.
A
Okay,
so
I
just
had
one
it's
it's
more
broad.
I
wanted
to
go
back
to
the
federal
one-time
transfers
because
I
am
of
the
opinion
that
well,
I
have.
A
I
have
a
couple
opinions,
but
because
I
was
a
part
of
the
2011
cycle
recession,
and
so
I
really
felt
at
the
time
we
relied
heavily
on
federal
government
relief,
rather
than
actually
focusing
on
what
should
our
state
budgets
be
doing
right
and
how
we
should
be
solidifying
our
tax
base
for
the
next
wave
right
and
making
sure
that
we're
proactive
versus
having
the
mindset?
A
Oh
we're
in
a
crisis,
we
should
tax,
because
I
think
that
that's
the
wrong
approach,
and
I
also
think
that
we
have
created
kind
of
a.
I
guess,
a
cultural
mindset
that
the
most
appropriate
time
to
tax
or
to
to
adjust
your
tax
taxing
system
is
in
the
middle
of
a
crisis,
and
I
actually
disagree
with
that.
A
I
actually
believe
that
we
should
plan
for
our
future
and
make
sure
that
we
have
enough
revenue
coming
in
for
our
services
and
how
we're
growing
to
make
sure
that
it's
sustainable
and
because
of
we
had
the
stimulus
dollars
flow
into
our
budget
and
now
everybody's.
Just
like
oh
we're
sitting
pretty.
That's
not
our
it's
not
to
me.
I
I
see
it
as
not
our
money
right.
It
wasn't
money
that
we
generated
it
wasn't
money
that
we
produced.
A
It
was
money
that
was
then
given
that
ultimately
in
the
federal
landscape
has
to
be
paid
back
by
a
taxpayer
anyway,
and
so
I
wanted
to
see
how
how
we
should
really
treat
these
one-time
buffers
and
and
how.
How
should
states
specifically
nevada,
start
to
plan
around
our
tax
revenue,
because
we
really
still
are
planning
for
the
future,
and
we
really
still
are
trying
to
make
sure
that
we
have
enough
money
to
pay
for
the
services
that
are
continuing
to
grow
absent
of
the
federal
stimulus
dollars.
A
And
I
just
wanted
to
hear
your
perspective
on
that.
D
Sure
I
turn
you
I
I
agree.
I
think
the
best
time
to
do
the
work
of
modernization
is
probably
when
you're
in
a
better
position
rather
than
when
it
is
an
emergency.
I
think
I
mentioned
earlier.
The
historical
trend
is
to
is
to
wait
until
you're
in
a
budget
crisis,
to
try
to
do
you
know,
tax
stuff,
and
that
makes
it
more
difficult.
So
I
mean
that's,
I
guess
that's
just
the
the
political
nature
around
having
you
know.
D
A
better
budgeting
situation
is
that
people
are
less
inclined
to
take
up
the
the
tough
long-term
stuff
that
needs
to
be
addressed
at
some
point,
but
I
would
be
a
little.
D
I
wouldn't
ignore
the
federal
money,
but
I
would
be
would
be
careful
about
you
know
acknowledging
you
know.
To
what
extent
is
our
current
fiscal
situation
driven
by
those
one-time
funds,
and
where
would
we
be?
If
not
for
those-
and
you
know
looking
looking
to
the
future-
that
there
are
many
difficult
fish
fiscal
issues
that
states
have
not
addressed
for
a
very
long
time,
and
so
you
know
now
would
be
a
great
time
to
do
that
if
muster
the
the
urgency.
I
guess.
A
A
Thank
you
for
that
presentation
and
giving
us
your
time
today
and
if
you
ever
present
again
throw
in
an
inflation
tidbit.
For
me.
A
E
E
And
so,
madam
chair
and
members
of
the
committee,
what,
as
we
were
working
with
the
chair
to
set
up
this
first
meeting,
what
the
fiscal
staff
thought
in
working
with
the
chair
was
to
sort
of
present
information
on
the
state's
general
fund
revenue
and
somewhat
from
the
context
of
the
economic
forum
as
the
body
that's
responsible
for
forecasting
the
state's
general
fund
revenue,
that's
used
in
the
budgeting
process,
and
so,
especially
with
we
have
senator
catro
as
a
new
member
of
the
committee.
E
So
he
may
be
aware
of
some
of
this,
but
perhaps
not,
but
also
thought
it
might
be
a
good
refresher
for
all
the
other
members
to
to
go
to
some
of
this.
This
is
sort
of
about
as
good
as
I
can
display
it
on
my
screen.
I
will
try
and
blow
it
up
here.
If
that
helps
whoops
did
it
just
disappear?.
E
We'll
see
how
long
this
will
hang.
Okay,
I
don't
know
what
happened.
I
think
my
laptop
is
just
trying
to
resize,
okay,
so
again,
with
senator
tater
being
a
new
member,
and
some
of
you
you've
seen
this.
So
what
what
I
have
here
is
what
you
hear
the
us
referred
to
as
this
is
the
economic
forum's
general
fund
revenue
forecasting.
E
So
this
is
the
set
of
tables
that
documents
all
of
the
state's
unrestricted
general
fund
revenue
sources,
that
the
economic
forum
is
responsible
for
forecasting
and
is
for
those,
as
you
recall,
as
returning
members
of
the
committee,
the
economic
forum
is
the
statutory
body
that
is
required
for
preparing
for
chaos
in
this
honor
before
december
third
of
odd-numbered
years
that
are
required
to
be
used
by
the
governor
and
excuse
me
an
even
number
of
years
to
be
used
by
the
governor
in
developing
the
budget
that
he
submits
to
the
legislature
before
the
beginning
of
session.
E
We
don't
go
through
with
our
legislators,
as
we
do
with
the
economic
forum
and
so
to
go
through
a
little
bit
of
that
today,
so
that
legislators
understand
what
is
occurring,
and
so
part
of
that
will
be
is
right.
The
economic
forum
is
required
to
do
its
forecast
on
or
before
may
1st
during
session.
Clearly
session
does
not
sign,
he
died
until
after
so
there
can
be
legislative
actions
that
are
approved
by
the
legislature
and
signed
by
the
governor
that
can
affect
these
general
fund
revenue
sources.
E
Thus
that
has
to
be
taken
into
account
in
the
general
fund
revenue
forecast
and
in
these
economic
forums.
So
what
you
see
here,
as
I
stated,
is
the
economic
revenue
forecast
tables
and,
and
I
don't
plan
on
going
through
all
of
them-
I
just
wanted
some
of
you
have
seen
them.
Some
of
you
have
not
with
regards
these
are
the
tables,
and
so
let
me
just
go
through
them,
and
so.
E
Sorry,
and
so
then,
these
other
tables
are
along
with
the
table
that
I
just
went
through.
They
are
tables
that
we're
preparing
and
to
document
what's
occurring
as
we
move
from
the
economic
forum,
doing
its
forecast
under
current
law
and
then
the
legislature
approving
actions
that
affect
them,
and
so
again,
I'm
not
going
to
go
all
through
these,
but
also,
I
guess,
sort
of
throw
out
of
a
little
bit
of
plug
for
the
fiscal
analysis
division.
E
These
these
tables
are
included
in
the
the
appropriations
report
document
that
is
prepared
by
the
fiscal
analysis,
division
which
documents
the
legislative
session
from
the
budget
and
revenue
perspective,
and
so
this
table
one
that
you're,
seeing
it's
just
simply
a
table
that
staff
had
to
put
together
to
try
and
document
the
tax
credits
because,
beginning
in
the
2013
session,
we
had
a
couple
tax
credit
programs
get
approved
additional
ones
in
2015,
and
so,
as
those
tax
credit
programs
started,
become
effective
and
we
would
see
them
working
in
the
real
world
we
realized.
E
Then
we
had
to
come
up
with
a
process
to
be
able
to
handle
the
tax
credits
within
the
economic
general
fund.
The
economic
forum's
general
fund
revenue
forecasting
process
and
within
the
budget
process
for
those
general
fund
revenues
to
be
able
to
document
document
them
track
them
and
forecast,
and
so
then
table
two
is
a
table
that
I'm
going
to
go
past
and
then
come
back
to.
But
this
is
the
one
where
we
document
the
legislative
actions,
but
what
I
thought
might
be
a
good
place
for
the
members
of
this
committee
today.
E
Is
to
go
through
a
these
are
additional
pages
from
the
2021
appropriations
report
prepared
prepared
by
the
physical
analysis
division,
and
so
this
is
a
these
tables
are
included
in
a
couple
pages
at
the
beginning
of
the
appropriations.
E
So
what
I
thought
I
would
just
walk
through
for
the
economic
four
members
here
is
the
table
that
at
the
top
of
the
table
here,
it
shows
the
economic
forum's
general
fund
revenue
forecast
that
was
approved
by
the
economic
forum
at
their
december
third
meeting,
and
so
this
would
have
been
the
general
fund
revenue
forecast
that
governor
suspect
used
for
his
budget.
E
Then
here
in
the
middle
block
here
you
can
see
this
would
be
the
economic
forum's
may
2021
forecast,
but
it
now
includes
adjustments
for
legislative
actions
approved
by
the
legislature
during
the
21
session.
But
we
also
this
time
have
this
additional
unique
element,
which
is
we
had
to
make
adjustments
for
the
court.
The
supreme
court's
decision
that
occurred
during
session
regarding
the
mbt,
tax,
the
modified
business
tax
and
the
bill
from
the
2019
session.
E
So
then,
what
you
can
see
here,
then,
is
the
difference
by
fiscal
year,
and
so
you
can
see
that,
as
you
heard
during
session,
that
the
economic
forum
at
the
may
21
meeting
had
a
fairly
significant
upward
revision
to
the
forecast
from
december
and
again
I'll
just
remind
everybody.
Forecasters
are
trying
to
forecast
in
a
pandemic,
and
none
of
us
have
much
experience
of
any
doing
that.
E
So
it
was,
it's
a
been
a
interesting
and
yet
difficult
exercise,
but
the
the
additional
revenue
net
between
what
the
form
added
in
their
forecast
process
the
legislative
actions
and
the
court
decisions
which
you
can
see
over
these
three
fiscal
years
of
approximately
235.8
million
dollars
in
fy
21,
310
million
in
fy
2022
and
327.4
million
in
fy
23.
For
a
total
of
approximately
873.4
million.
E
It
was
the
the
net
upward
revision
of
the
may
forecast
that
was
being
used
to
drive
the
legislatively
approved
general
fund
budget
compared
to
the
revenue
estimates
for
the
general
fund
that
were
available
to
be
used
by
the
governor
for
the
budget
he
submitted.
So
then,
I
I
thought
to
be
able
to
try
and
document
this
and
then
walk
the
committee
members
through
the
the
various
changes
and
then
get
to
the
the
impact
of
the
court
decision
on
the
modified
business.
E
So
what
you
can
see
here,
then,
is
we
can
parse
that
the
results
from
the
previous
table
into
the
change
due
to
the
economic
forum,
the
change
due
to
the
approved
actions
during
the
session
and
those
from
the
court
decision.
E
So
you
can
see
here
that
the
first
lines
are
here
documenting
the
change
in
the
may
forecast
to
the
december
forecast
due
to
what
we'll
just
call
it's
the
economic
forum,
and
that
would
have
been
due
to
the
the
outlook
and
the
information
set
in
may
was
different
than
december.
E
That
resulted
in
upward
resist
revisions
to
the
fourth
and
some
of
you.
If
you
go
to
the
bottom
line
here,
the
total
difference
after
tax
credits,
you
may
recall,
from
session
or
reading
in
the
newspaper,
that
the
economic
forum
added
this
900,
approximately
910
million
dollars
in
additional
general
fund
revenue
from
the
may
forecast
compared
to
the
december.
E
E
Those
are
included
in
the
legislatively
approved
changes,
and
you
can
see
that
was
estimated
to
be
approximately
83.8
million
dollars
in
fy
2022
and
81.3
million
dollars
in
fy23,
for
a
total
of
165.1
million
dollars
for
the
biennium
before
the
tax
credits
and
then
there's
an
additional
tax
credits
added
to
the
educational
choice,
scholarship
tax
credit
program
that
is
expected
to
have
the
negative
impact
for
the
tax
credit
program
in
fy
23
of
approximately
4.7
million.
E
So
again,
you
go
down
here
by
fiscal
year
and
you
can
see
the
net
change
due
to
the
legislatively
approved
actions
it
here
for
the
both
years,
fy22
and
fy23
of
approximately
160.4
million
dollars.
I
will
go
through
that
more
when
I
I
back
up
and
go
through
table
two
as
to
what
those
legislatively
approved
actions
were.
E
So
then
you
can
see
the
the
bottom
line
here
of
each
of
these
blocks
is
the
court
decision
related
to
the
modified
business
tax,
which
resulted
in
refund
and
interest
for
a
the
period
of
fy,
2020
and
fy
21
due
to
the
taxpayers
paying
at
the
higher
rate,
which
the
supreme
court
ended
up
then
upholding
the
lower
court's
decision
that
the
those
provisions
of
a
bill
from
the
2019
session
were
unconstitutional
and
also
out
of
that
court
decision,
then
came
that
we
had
to
then
lower
the
tax
rates
for
fy22
and
fy
23..
E
So
that's
what
you
can
see
here,
then,
is
the
estimate
of
the
court,
the
court
decisions
of
approximately
87.7
million
dollars
in
fy
21
in
terms
of
a
downward
reduction,
a
downward
deduction
of
approximately
55.3
million
dollars
in
fbi.
22
and
53.7
million
dollars
in
fy23
for
a
total
of
approximately
196.6
million.
E
So
you
can
see
then
the
the
downward
revisions
over
the
three
years
through
the
court
decisions
were
more
than
the
legislatively
approved
changes
for
the
estimates
that
were
produced.
E
The
numbers
that
are
reflected
up
in
table
two
specifically
to
related
to
the
modified
business
tax
and
the
impact
of
the
supreme
court's
decision
on
may
13th,
upholding
the
first
judicial
to
district's
court's
decision
that
the
four
sections
of
sb
551
from
the
2019
session,
relating
to
the
modified
business
tax
rates
and
what
what
we
refer
to
as
this
modified
business
tax
rate
reduction
calculation
that
came
out
of
the
actually
came
out
of
the
2015
legislation
that
created
the
commerce
tax,
the
and
made
changes
to
the
modified
business
and-
and
so
sorry,
I
just
want
to
pop
up
that.
E
So
you
can
see
here
then
that
this
the
results
of
the
mbt
court
decision
resulted
in
refunds
and
interest.
The
refunds
and
interest
are
coming
from
the
for
fy
2020,
all
four
quarters
in
the
first
three
quarters
of
fy
2021
modified
business
taxpayers
paid
at
the
higher
rate
established
by
sb
551
from
the
2019
session,
where
under
the
court's
ruling,
they
should
have
paid
then
at
the
lower
rate
prior
to
the
passage
of
sb551
and
so
working.
E
The
fiscal
analysis,
division
staff
working
with
department
of
taxation
staff
who
is
actually
administering
the
modified
business
tax
and
then
administering
the
refunds
interest
here
is
these
are
the
estimates
of
the
refund
and
interest.
So
again,
this
is
refunds
and
interest
that
the
department
taxation
has
to
provide
to
modified
business
taxpayers
that
made
payments
in
the
four
quarters
of
fy
2020
in
the
first
three
quarters
of
fy21.
E
So
you
can
see
the
estimated
amount
by
each
of
the
mbt
tax
component,
so
we're
estimating
its
total
of
approximately
75.6
million
dollars
in
refunds
and
interest
for
fy
2021
and
then
approximately
4.7
million
dollars
in
fy
2022,
or
an
estimated
total
of
approximately
80.3
million
dollars.
E
I
I
think,
for
this
refund
and
interest
portion,
where
we
work
with
department
taxation
to
stay
informed.
On
this.
I
think
possibly
one
of
the
future
meetings
of
this
committee.
E
We
can
work
with
chair
neal
to
bring
information
back
to
the
committee
on
what
the
actual
refunds
and
interests
are
compared
to
what
we
were
estimating
based
on
when
these
estimates
had
to
be
prepared
at
the
after
the
conclusion
of
the
2021
session,
and
then
here
you
have
the
estimated
impact
due
to
the
tax
rate
reduction,
and
so
you
there
is
an
impact
in
fy
2021
from
the
tax
rate
reduction,
because
the
the
department
of
taxation
was
able
to
effectuate
the
tax
rate
reduction
beginning
april
1st
2021,
which
is
the
fourth
quarter
of
fy.
E
And
so
we
have
to
estimate
the
impact
of
that
on
our
the
economic
forums
forecast,
which
was
done
at
the
higher
rates
compared
to
what
we
would
believe
will
now
be
generated
at
the
lower
tax
rates.
Due
to
again
the
court
decision,
that's
estimated
to
be
approximately
12.1
million
dollars
in
fy
21,
as
you
can
see
here
and
then
approximately
50.6
million
dollars,
total
for
the
mbt
and
fy
2022
and
53.7
million
dollars
approximately
for
fy23
or
a
total
of
approximately
116.4
million.
E
The
modified
business
tax
on
non-financial
businesses
that
tax
rate
went
from
1.475
to,
as
you
can
see
down
here
in
note,
4
to
1.378
on
any
quarterly
taxable
wages
exceeding
50
000
order,
and
then
the
tax
rate
for
the
mining
in
businesses
and
the
financial
businesses
went
from
two
percent
down
to
one
point:
eight:
five:
three
percent
and
again
these
these
lower
rates
came
out
of,
what's
called
the
mbt
rate
reduction
calculation,
and
this
is
a
provision
that,
in
the
2015
legislation
that,
with
the
creation
of
the
new
commerce
tax
and
increases
in
the
modified
business
tax
rates,
says
that
the
department
of
taxation
honored
before
september
30th
of
each
even
number
gears
must
do
this.
E
If
that
statement
is
true
that
the
actual
collections
do
exceed
the
forecast
by
more
than
four
percent,
then
there's
a
calculation,
that's
done
through
the
statutory
provisions
to
proportionally
reduce
the
modified
business
tax
rates
such
that
the
amount
of
revenue
generated
would
have
been
four
percent
more
than
the
the
forecast
for
those
three
revenue
sources,
and
so
that
calculation
was
done
by
the
department
of
taxation
in
september,
20
or
september
2018
for
fy
2018,
and
then
the
it
determined
these
lower
rates,
which
then
were
to
become
effective
july.
E
1St
2019
for
fy
2020..
It
was
the
actions
of
the
sb
551
from
the
2019
session,
then
that
changed
that
the
rate
reduction
rates
would
not
become
effective
and
the
rate
reduction
calculation
would
go
away.
The
rate
reduction
calculation
has
also
been
restored
through
the
supreme
court's
decision,
and
so
just
for
the
information
set
of
this
committee.
Members
is
this
september
on
or
before
september.
30Th
year
of
september,
2022,
the
department
of
taxation
will
have
to
do
this.
E
So
that
that's
the
information
that
I
just
thought
to
go
through
here
as
to
walk
the
the
members
of
this
committee
through
this
process
that
occurs
after
the
economic
forum
does
their
forecast
on
current
law
and
then
us
having
as
staff
as
your
legislative
staff
being
also
staffed
to
the
economic
forum.
And
so
you
can
see
the
overlap
of
our
responsibilities
as
sort
of
revenue
staff
between
the
economic
forum
process
and
the
legislative
process
and
the
legislative
budget
process.
E
A
E
Okay,
sorry,
I
am
moving
back
up
and
this
one
I
may
have
to
shrink
down
a
little
bit.
So
hopefully
you
can
bring
it
up
on
your
screen
and-
and
I
and
I
I
agree
with
the
chair-
that
this
is
a
lot
of
information.
It's
really
as
I've
stated
some
of
the
same
information
that
was
presented
to
the
economic
forum,
these
next
several
agenda
items,
but
we
thought
it
would
be
a
pretty
good
context
for
this
member,
the
members
of
this
committee
to
set
the
stage
for
meetings
going
forward.
E
So
what
I've
backed
up
the
table
too,
which
of
the
economic
forum's
packet
and
so
maybe
to
try
and
help
the
members.
Sorry,
I'm
on
it's
on
page
21
of
the
meeting
packet
in
the
lower
right-hand
corner.
E
So
this
is
the
table
where
again,
staff
documents,
the
legislative
actions
that
end
up
ended
up
having
an
impact
or
could
have
an
impact
on
general
fund
revenue
sources,
unrestricted
general
fund
revenue
sources
that
are
included
or
will
be
included
since
they're
new
into
the
economic
forum
general
fund
revenue
forecast
table.
E
So
the
first
one
you
can
see
listed
here
is
what
was
the
new
tax
that
was
approved
during
the
2021
session
in
ab-495,
which
is
we're
calling
here,
the
mining
gross
revenue
tax
on
gold
and
silver,
and
this
was
the
tax
that
was
established
to
put
a
new
tax
on
the
gross
revenue
generated
by
businesses
and
that
are
extracting
gold
and
silver
in
the
state
of
nevada.
E
And
you
can
see
that
the
way
that
the
tax
is
set
up,
that
it's
an
annual
tax
with
these
annual
revenue
thresholds
and
so
the
way
the
tax
works
is,
is
that
on
or
before
april
1st
of
a
year,
an
energy
that's
subject
to
this
tax
is
required
to
report
their
growth
revenue
from
the
extraction
of
gold
and
silver
for
the
immediately
preceding
calendar
year
and
then
based
on
that
annual
amount.
Then
they
would
determine
their
amount
of
taxes.
E
So
that's
the
new
tax.
This
is,
and
thus
you
can
see,
then
the
estimates
here
of
approximately
83.8
million
dollars
that
was
done
by
fiscal
staff
and
and
also
there
was
analysis
being
done
by
jeremy
aguero
for
the
the
mining
association
on
this
during
session.
But
this
is
the
estimate
that
the
fiscal
analysis
division
staff
came
up
with
for
this
new
tax
for
fy
2022
of
approximately
83.8
million
dollars
and
then
basically
approximately
81
million
dollars.
E
You
can
see
there
for
fy
2023
or
a
total
of
165
million
dollars
approximately
for
the
biennium,
and
so
this
new
tax
is
required
to
be
deposited
in
the
state
general
fund
for
its
first
two
years,
that
is
fy
2022
and
fy23
beginning
in
fy
24.
E
This
revenue
source
is
required
to
be
deposited
in
the
state
education
fund,
which
is
the
the
new
fund
under
the
people-centered
funding
plan,
where
the
revenues
go
into
that
fund
and
used
to
determine
the
the
funding
amounts
for
k-12
education
through
the
funding
plan
of
the
people-centered
funding
plan.
E
So
then
the
next
item
is
the
you
see
several
listings
here,
of
course,
under
sales
and
use
tax,
and
at
this
point
I'm
I'm
I'm
not
going
to
go
through
each
of
the
elements,
because
I
think
the
important
thing
here
is
during
the
2021
session
there
was
the
passage
of
sb440,
which
established
what
we
call
the
nevada
national
guard
sales
tax
holiday,
and
so
this
allows
national
nevada
national
guard
members
to
obtain
a
certificate
of
exemption
which
then
they
can
use
to
be
exempt
from
all
sales
taxes
during
the
nevada
day
holiday
weekend.
E
And
so
that's
what
the
sales
tax
holiday
is.
You
can
see.
We
didn't
do
any
estimates
for
this
that
you
see
in
the
table.
We
realized
it
should
have
a
negative
impact
on
both
state
and
local
sales
taxes,
but
we
didn't
know
how
to
come
up
with
an
estimate
that
we
felt
comfortable
putting
on
the
sheets
as
a
potential
revenue
reduction.
E
Obviously,
the
the
first
sales
tax
holiday
has
occurred
here
with
the
october
21
the
vetted
day
holiday.
It's
going
to
be
very
difficult
for
the
department
of
taxation
to
provide
us
actual
information
on
that.
The
way
that
the
sales
tax
reporting
works
in
terms
of
the
sales
tax
returns.
E
But
I
think
one
of
the
more
important
things
is
your
staff
to
just
point
out
here
at
a
high
level
is
since
the
passage
of
sb440.
It's
come
to
our
attention
and
clearly
chair.
Neal
knows
this
that
the
state
of
nevada
is
what's
we're
a
full
member
of,
what's
called
the
streamlined
sales
and
use
tax
agreement
or
suda,
and
this
is
us
a
majority
of
the
states
that
have
sales
taxes
created
got
together
and
they
have
this
streamlined
sales
and
use
tax
agreement
to
administer
sales
taxes.
E
Specifically,
it
works
help
with
regards
to
the
administration
of
online
sales
taxes,
but
just
sales
taxes
in
general,
across
the
states,
and
so
in
october
of
last
year.
The
streamlined
sales
and
tax
governing
board
in
which
chair
neil
is
a
member
found
that
nevada's
sales
tax
holiday
is
non-compliant
with
the
streamlined
sales
and
use
tax
agreement
provisions
regarding
sales
tax
holidays.
E
So
I
just
wanted
to
get
that
out
there,
because
I
believe
that
may
be
one
of
the
areas
that
chair
neo
and
this
committee
will
want
to
have
additional
information
presented
on
and
go
into
what
will
be
done
to
get
nevada
out
of
this
non-compliant
phase
that
they're
in
with
regards
to
the
sale,
the
nevada
national
guard
sales
sales
tax
and
my
conversations
with
staff
which
are
neal
is
the.
I
don't
want
to
say
much
more
about
why
we're
non-compliant
and
all
that.
E
If
there's
questions
going
to
be
about
that,
because
I
it's
my
understanding,
it's
the
intent
of
cheering
you
to
at
a
future
meeting,
have
an
agenda
item
for
to
go
through
the
sales
tax,
as
well
as
have
staff
from
the
streamlined
sales
and
use
tax
governing
board,
make
a
presentation
on
suda
to
the
committee,
as
well
as
the
sales
tax
holiday
provisions
and
why
nevada
is
non-compliant
and
where
nevada
can
go
to
try
and
gain
compliance.
A
Thank
you,
mr
gundam
yeah.
I
know
that
you
know
probably
some
of
the
members
from
the
assembly
taxation
remember
this
bill
very
clearly,
because
there
was
some
hesitation
on
this
particular
measure.
Well,
your
instincts
were
right.
A
I
mean
we
kind
of
had
similar
instincts,
but
it
had
to
move
forward,
and
so
there
will
be
some
corrective
measures
that
we
will
discuss
in
february
around
this
particular
bill,
and
you
will
see
this
bill
come
back
in
either
as
a
senate
bill
or
some
other
bill,
but
to
handle
those
corrections,
and
that
will
that
that's
all
I'll
say
about
that.
One.
E
Thank
you,
madam
chair,
so
again
russell
again
for
the
record,
with
the
fiscal
analysis
division.
So
some
of
these
other
ones
you'll
see
listed
here,
I'm
not
going
to
spend
a
lot
of
time
on
them.
If
there's
questions
you
can
ask
them,
I
can
try
and
address
them,
or
perhaps
they
can
be
deferred
to
going
into
more
detail
in
future
meetings.
E
But
with
regards
to
the
live
entertainment
tax,
there
was
a
change
made
to
provide
an
exemption
basically
for
government
entities
if
the
live
entertainment
is
provided
by
or
entirely
for
the
benefit
of
them.
E
E
And
then
there's
there
you
can
see.
Sb9
was
a
bill
making
changes
to
the
securities
revenue
source
that
the
secretary
of
state
administers
and
just
again
to
provide.
Maybe
the
members
of
the
revenue
committee
some
perspective
that
this
was
not
a
bill
that
came
through
the
revenue
committees
at
either
house.
E
We
have
to
go
account
for
those
bills
because
they
could
be
potentially
affecting
an
unrestricted
general
fund
revenue
source,
thus
lots
of
times
we
do
these
are
we
are
aware
of
them
during
the
legislative
session,
because
our
fiscal
analysis,
division
or
research
division?
Colleagues
have
let
us
know
that
these
bills
are
out
there.
E
You
can
see
the
short-term
car
release
is
what
we
call
it,
and
this
was
sp
389
the
bill
that
required
the
the
short-term
car
lease
or
car
rental
tax
to
be
applicable
to
peer-to-peer
car
sharing
programs.
E
And
I
think
I
what
I
would
add
here
to
the
vice
chair,
cohen's
question
that
she
asked
mr
brainerd
from
ncs
is.
This
might
have
been
part
of
the
context
from
her
memory
from
last
session
that,
because
we
actually
call
we
have
a
tax,
that's
not
on
the
peer-to-peer,
but
it's
called
the
transportation
connection,
excess
tax.
E
So
I
just
thought
I
would
mention
that
that
that
right
that
we,
we
literally
have
this
thing
called
the
transportation
connection
excise
tax
on
our
sheets,
and
when
you
see
mr
brainard
calling
it
a
transportation
services
under
excise
taxes,
then
in
our
vernacular
I
think,
there's
a
connection,
but
so
this
one
going
back
to
the
the
peer-to-peer.
E
You
can
see
that
mr
brainerd
also
had
a
slide
where
he
was
listing
states
that
had
peer-to-peer
and
nevada
wasn't
there.
I
I
I
consider
this
to
probably
be
like
those
other
states,
and
so
what
this
is
doing.
What's
peer-to-peer
car
sharing
programs
think
turo
right
turo?
Is
this
a
platform
where
people
can
go
rent
their
own
cars
to
other
people
on
this
platform?
E
And
so
it's
it's
been
something
that's
been
discussed.
E
I
think,
for
the
last
few
sessions
in
the
2021
session,
senator
neil
actually
had
a
bill
to
bring
the
peer-to-peer
car
sharing
programs
like
turo
and
others
that
are
allowing
the
rental
cars
no
different
than
the
rental
of
cars
by
hertz
or
budget,
or
that
to
be
subject
to
the
short-term
car
rental
tax,
which
is
10
percent
of
the
rental
charge,
with
some
potential
allowances
statewide
and
that's
the
general
fund
portion,
the
ten
percent
rate
and
in
clark
and
washoe
there's
an
additional
two
percent.
E
That's
imposed
on
these
peer-to-peer
car
sharing
programs,
because
it's
the
same
two
percent
tax
rate
that
would
be
imposed
on
car
rental
companies
that
is
like
hurts
and
budget
renting
costs.
So
in
some
sense
I
I
look
at
this
as
your
your
fiscal
tax
revenue
staff
coming
under
this
construct
of
the
modernization
of
your
tax
code
that
you
have
the
the
economy
is
changing
in
this
peer-to-peer
or
this
sharing
economy.
E
We
just
had
to
move
it
so
you're
going
to
see
the
plus
100
and
3
500
here
and
see
us
subtract
it
off
on
the
next
page,
because
we're
just
we
had
to
move
it
from
one
general
ledger
account
to
another,
and
then
these
repayments,
I'm
not
going
to
spend
a
lot
of
time
on
those
they're
they're.
E
Just
simply
where
the
the
legislature
approves
that
a
general
fund
appropriation
be
provided
to
a
program
or
generally
their
projects,
and
then
that
general
fund
appropriation
is
required
to
be
repaid
back
to
the
general
fund
and
lots
of
times.
These
are
for
technology
type
projects
or
other
maintenance
type
projects,
and
so,
if
there
are
questions
on
that,
I
will
have
to
probably
phone
a
fiscal
colleague
to
answer
it,
because
it's
more
of
a
budget
thing,
but
it
is
filtered
through
as
a
general
fund
revenue
repayment
when
the
appropriation
is
repaid.
E
Finally,
the
unclaimed
property
you
can
see
here
was
a
bill
that
was
passed
to
require
one
million
dollars
of
the
unclaimed
property
to
go
to
this
new
grant
matching
account,
and
so
this
is
similar
to
there's
the
the
first
7.6
million
dollars
of
unclaimed
property
goes
to
the
millennium
scholarship
trust
fund
each
fiscal
year.
E
Now,
there's
this
additional
one
million
dollars
that
goes
to
this
grant
matching
account
and
then
any
remaining
amount
of
unclaimed
property
at
the
end
of
the
fiscal
year
comes
to
the
state
general
fund
as
an
unrestricted
general
fund
revenue
source,
and
so
madam
chair,
that
was
the
legislatively
approved
actions
with
regards
to
the
unrestricted
general
fund
revenue
source.
I
just
did
want
to
point
out
that
the
next
table
has.
E
E
For
that
program,
the
authorization
for
the
tax
credits
was
actually
available
and
made
for
fy
2022,
but
as
fiscal
staff
look
through
the
amount
of
credits
that
are
out
there
and
then
what's
happening
to
that
program
in
the
pandemic.
Here
we
thought
it's
more
likely
that
that
additional
amount
of
authorized
credits
by
the
time
they
would
probably
be
awarded
and
taken
will,
is
it's
more
accurate
to
record
it
as
a
additional
potential
revenue
loss
in
fy
2023..
A
E
A
A
No,
I
would
just
say
this
is
good
information
for
like
the
future,
because
there's
always
a
bill
that
either
tries
to
amend
or
touch
on
a
pre-existing
subject,
and
so
it's
helpful
to
try
to
understand.
You
know
what
was
that
revenue
impact,
and
so,
if
anybody
starts
to
make
any
changes,
you
can
look
at
the
prior
revenue
impact
and
then
determine
okay.
This
is
going
to
be
good
or
positive
or
negative
for
the
state.
A
You
know:
what's
the
change
they're
trying
to
make,
is
this
change
actually
going
to
like
exacerbate
the
revenue
that
we're
expecting
to
come
in
because
they
want
to
either
expand
it?
Take
it
away,
because,
ultimately,
someone
is
either
relying
on
that
revenue
to
come
in
to
pay
for
a
particular
program,
and
so
I
just
wanted
to
quickly
say
that
and
then
we
can
continue.
E
Thank
you,
madam
chair,
again
for
the
record
russell
given
so.
Finally,
I
just
on
page
26
of
table
two.
E
Yet
it's
not
it's
not
unrestricted
general
fund
revenues,
but
you
can
see
we're
listing
the
things
that
could
change
either
a
revenue
source
that
would
have
been
for
the
the
distributed
school
account,
the
dsa
and
fy
2021,
or
now
the
new
state
education
fund
in
fy22
and
fy23,
and
so
this
just
became
part
of
the
the
documentation
that
the
fiscal
announce
division
did,
and
so
the
one
I
I
think
that
I
just
did
want
to
point
out
on
here.
E
Is
this
ab363
from
the
2021
session,
which
was
assemblywoman's
wind
bill
with
regards
to
the
again
it's
sort
of
the
the
peer-to-peer?
It's
the.
I
think
it's
generally
sort
of
like
the
airbnb,
but
people
being
the
do
the
rent,
their
residences,
so
that
could
have
a
potential
impact
on
the
state
three
percent
rim
tax.
But
again
that
would
not
affect
a
general
fund
revenue
source.
E
It
would
affect
the
room
tax
going
to
the
state
education
fund,
and
so
again
you
can
see
here
we
weren't
able
to
come
up
with
an
estimate
that
we
felt
comfortable
looking
up
through
all
the
dynamics
of
the
bill
that
could
occur.
But
obviously
this
will
be
something
we
will
continue
to
monitor
and
evaluate
in
the
interim
as
to
this
bill
and
what's
going
on,
and
so
with
that.
Madam
chair,
that
was
the
information
I
wanted
to
present
these
tables.
E
E
You
may
have
seen
this,
but
again,
the
tax
team
goes
through
all
the
bills
that
can
make
changes
to
the
administration
of
the
state
and
local
tax
affecting
the
the
yield
from
a
state,
local
tax
or
economic
development
provisions,
abatements
tax
credits,
we're
going
through
all
the
bills,
and
so
we
attempt
to
write
a
very
brief
summary
of
each
of
those
bills
and
put
it
into
what
we
call
the
tax
policy
section
of
the
appropriations
report
and
I
just
thought
it
might
be
worth
providing
that
to
the
members
of
the
committee.
E
And
so
with
that.
Madam
chair,
I
think
that
was
the
information
that
I
want
to
present
on
this.
With
regards
to
your
point
that
to
allow
the
legis,
the
members
of
this
committee
being
revenue
members,
but
just
legislators
in
general
to
have
an
understanding
of
what
occurs
af
after
the
end
of
the
session
with
regards
to
revenue
and
general
fund
revenue
based
on
the
actions
that
the
legislature
is
approving
and
having
to
then
go
and
make
adjustments
to
the
forecast
that
the
form
did
in
may
and
with
that
I'll
answer.
A
So
are
there
any
questions,
assemblywoman
cassava.
C
Let
me
unmute
myself.
Thank
you,
mr
quinn.
Great
overview.
Could
you
just
go
back
to
the
page?
What
page
number
was
it
that
had
the
final,
the
final
adjustment
after
all,
of
these
adding
for
legislation
for
the
new
forecast?
What
was
the
final
bottom
line
to
the
projected
budgets.
E
So
it's
actually
right
here,
you
can
see
on
the
small
table
and
sorry
I'm
having
a
hard
time.
So
I'm
running
here,
it's
actually
page
27
of
the
meeting
packet.
So
it's
he
pulled
things
together,
so
the
net
effect
after
the
tax
credit
programs.
You
can
see
the
net
impact
to
the
general
fund
was
there
were
no
adjustments
for
fy
2021,
except
for
the
for
the
court
decisions,
87.3
million
dollars
and
then
for
the
fy
2022.
E
The
net
effect
was
28.5
million
dollars
to
the
positive
and
then
for
fy
23.
It
was
22.9
million
dollars
or
51.4
million
dollars
for
the
biennium.
C
Thank
you
journal.
I
thank
you
for
an
incredible
presentation.
Like
usual,
I
do
have
two
questions.
The
first
is
more
of
a
philosophical
question:
does
the
lcb
also
or
does
the
research
the
financial
division
also
track
the
federal
legislation
and
its
impact
on
some
of
our
items,
or
is
that
more
something
that
is
done
in
a
different
group,
because
sometimes
some
of
the
federal
legislation
can
sometimes
have
an
effect
on
us
as
well.
E
That's
a
very
good
question
because
you're
absolutely
right,
so
we
worry,
we
try
and
monitor
it,
be
aware
of
it,
but
one
of
the
I
think
benefits
is
is
clearly
we
watch
if
they're
going
to
do
anything
with
regards
to
from
time
to
time,
there's
been
what's
called
the
main
street
fairness
act
which
would
have
been
with
regarding
online
sales
in
those
types
of
legislation.
E
E
So
here
in
nevada,
we
don't
have
to
worry
about
that
type
of
federal
law
change
to
income
tax
codes,
but
we
do
have
to
watch
what
they're
doing
with
regards
to
with
the
havity
bill
that
could
change
the
sales
tax,
also
we're
watching
bills
with
regards
to
marijuana
legislation,
and
things
like
that
and
to
just
see
if
there's
anything
that
could
come
in
and
have
any
effect,
and
the
nice
thing
about
that
is.
E
We
do
have
the
ncsl
organization
that
keeps
track
of
a
lot
of
that,
as
well
as
some
of
the
other
organizations,
so
we
don't
have
to
try
and
do
that
heavy
lift
ourselves.
Mr
cohen,
we
can
rely
on
other
organizations
to
try
and
help
us
keep
track
of
what
the
federal
government
and
congress
may
be
doing.
That
could
have
a
downstream
effect
on
the
state
of
nevada.
C
Thank
you
that
that
helps
a
lot,
because,
honestly,
the
reason
why
I
was
bringing
it
up
was
more
about
the
housing
things
that
are
happening,
but
having
that
information
about
the
pot,
the
marijuana
tax,
as
well
as
the
sales
tax,
is
a
huge
help
and
then
my
other
question
is
pretty
general
and
I
know
I
could
just
look
it
up
easily,
but
I
can't
at
this
time
so
hopefully
you've
got
it.
C
When
exactly
does
the
does
the
the
the
language
go
into
effect
for
the
the
rental
for
noise
bill
that
had
to
do
with
the
airbnbs
and
everything?
I
know
that
you
had
mentioned
that
for
the
hotel
room
tax,
but
I
can't
remember
when
exactly
it
takes
into
effect.
Was
it
january
or
was
it
july
or
was
it
august.
C
And
I
can
look
it
up
as
well.
Thank
you
so
much,
madam
chair
for
the
record
michael
nakamoto,
with.
E
Fiscal
analysis,
division
most
of
the
provisions
of
that
bill
take
effect
on
july,
1st
2022
correct,
yes,
right,
great.
C
A
A
All
right
so,
mr
ginnon,
I
want
to
go
ahead
and
skip
number
seven
and
number
eight,
because
it's
already
three
and
see
if
we
can
get
into
number
nine.
A
I
think
because
I
feel
like
the
presentation
that
you
just
gave,
although
they're
different
tables
crossed
over
into
the
court
cases,
which
really
is
the
mbt
case
and
then
also,
I
think
members
can
look
at
the
actual
collections
versus
the
compared
forum
estimates
in
the
table
or
it's
something
we
can
discuss
in
a
later
meeting
if
it
comes
up
and
to
reference.
E
Okay,
that
works,
madam
chair,
excuse
me
russell
for
recording
and
again
yes
under
eight,
that's
something
we
keep
updated.
So
we
can
just
possibly
get
into
the
position,
madam
chair,
where,
as
every
month
or
a
quarter,
we
get
additional
actual
collections.
So
we
can
keep
those
tables
updated
and
keep
providing
them
to
the
members
of
the
committee
and
perhaps
at
a
future
meeting
we
can
just
walk
through
them
to
help
the
members
know
how
to
read
the
tables
and
what
they're
looking
at.
E
B
Okay,
so
these
are
a
set
of
charts
that
we
present
to
the
economic
forum
really
we're
just
looking
at
time:
series
of
employment,
personal
income
and
wages,
information,
and
so
to
start,
we
just
take
a
look
at
u.s,
total
non-farm
employment
in
the
u.s
and
then
also
in
nevada,
so
just
to
summarize
quickly
that
u.s
employment,
since
the
the
onset
of
the
pandemic,
you
see
the
big
decline
in
job
growth,
and
then
you
see
that
we've
rebounded
to
some
extent
in
such
that
the
percent
change
from
beginning
of
the
pandemic
to
currently
where
it's
now
2.9
below
that
previous
peak
or
4.4
million
jobs
below
the
previous
peak
in
terms
of
the
u.s
employment
picture.
B
Contrast
when
we
look
at
nevada's
employment,
we're
actually
more
down
right
now
at
six
point:
five
percent
below
the
previous
p
or
nine
ninety
three
thousand
jobs
below
the
previous
fee.
B
However,
when
we
look
at
what's
the
main
cause
of
our
decrease
in
employment,
it's
the
leisure
and
hospitality
industry,
almost
79
400
of
the
jobs
that
were
still
down
is
just
this
one
industry
of
leisure
and
hospitality.
B
B
But
I'll
point
out
that
in
the
last
two
quarters,
nevada
is
actually
exceeding
the
national
average
again
similar
to
how
we
exceeded
the
national
average
prior
to
the
pandemic
and
then
also
typically,
we
generally
see
nevada's
job
growth
being
higher
than
the
national
average,
with
the
exception
of
periods
when
we
had
the
great
recession
and
the
amount
of
time
it
took
to
get
back
to
being
faster
growing
than
the
national
average,
and
so,
while
we're
still
below
the
national
average
in
terms
of
the
from
the
onset
of
the
pandemic,
to
currently
we're
sort
of
returning
to
trend,
in
a
sense
that
these
last
two
quarters
nevada's
actual
job
growth,
is
a
little
faster
than
the
national
average.
B
So
I
won't
go
into
specifically
all
that,
but
I
think
the
inflation
components
is
the
thing
to
look
at
for
part
of
this
presentation,
and
these
are
just
the
index
of
the
us
cpi
and
some
of
the
components
and
I'm
just
really
showing
this
one
to
to
show
you
the
dramatic
sort
of
change
in
the
energy
component
over
the
last
several
quarters
and
that's
one
of
the
major
factors
that
is
driving
sort
of
the
price
increases
and
inflation
increase
that
we're
seeing.
Currently,
you
also
have
the
food
component.
That's
also
elevated.
At
this
point.
B
This
is
showing
the
red
line,
the
kind
of
headline
cpi,
all
urban
consumers
all
items
and
has
been
in
the
news.
There's
significant
increase
in
the
cpi,
such
that
year
over
year,
cpi,
is
up
on
this.
Fourth
quarter,
six
point:
eight
percent:
when
we
take
out
the
food
and
energy
component,
we
still
have
five
percent
year-over-year
growth
for
this
fourth
quarter,
and
these
would
have
to
go
back
to
the
90s
and,
in
some
cases,
the
80s
to
get
inflation
rates
to
this
level.
B
So
when
we
look
at
things,
we'll
see
that
we're
not
doing
as
well
in
inflation
adjusted
terms
because
of
these
latest
inflation
rates
again,
this
is
now
just
the
growth
rates
when
we
add
in
the
energy
component-
and
the
scale
really
drops
quite
a
bit-
that
this
energy
component
is
for
this
last
quarter.
Up
31
and
that's
a
major
driver
in
why
we're
seeing
the
increases
bleed
over
into
transportation
costs
and
other
things
that
are
contributing
to
the
inflation
in
the
food
sector
in
other
sectors.
B
So
this
is
looking
at
total
personal
income
and
the
the
shares
that
the
pieces
of
the
personal
income
comprise
so
we're
looking
at
total
wages
and
salaries
in
the
red
for
the
u.s
and
typically
they've
been
about
50
of
total
personal
income.
B
But
we
see
the
impact
of
the
stimulus
payments
and
other
things
with
the
onset
of
the
pandemic,
where,
when
we
had
the
job
losses,
we
had
a
significant
decrease
in
wages,
and
then
things
have
kind
of
bounced
around
as
we've
come
through
the
pandemic.
But
we're
showing
this
in
blue.
The
transfer
payments
is
a
huge
change
in
terms
of
the
stimulus
payments
that
individuals
are
receiving
in
the
contribution
to
personal
income,
so
the
wages
and
salaries
for
the
us,
like
I
said,
was
about
50
of
total
personal
income
in
2021.
B
First
quarter
is
average
47.7
over
this
period
since
the
pandemic.
When
we
look
at
the
transfer
payments,
typically,
they
were
17
of
total
personal
income
and
then
increased
to
over
22,
almost
23
percent
on
average
over
the
course
of
endemic
and,
of
course,
the
spikes
there
over
25
percent
when
actual
stimulus
was
being
released
in
a
sense.
B
So
I
was
highlighting
just
that.
The
contrast
to
the
u.s
that
the
wage
and
salary
dropped
was
a
little
more
dramatic
in
that
we
were
at
less
than
48
percent
of
personal
income
in
2020,
first
quarter,
the
average
just
43.8
percent,
but
then
the
steep
increase
in
the
personal
and
the
current
transfer
payments,
where
it
was
less
than
17
of
personal
income
in
the
first
quarter
of
2020
to
over
25
or
24.9
percent.
B
B
So
now,
shifting
to
u.s
total
personal
income
and
u.s
total
wages
and
salaries,
when
we
typically
try
to
look
at
these
on
a
long-term
basis,
what
we're
doing
is
we
generally
would
look
at
from
peak
to
trough,
but
you
notice,
with
the
stimulus
influx
that
we
started
to
measure
just
what
happened
in
these
statistics
from
before
the
pandemic
to
currently.
So,
when
we
look
at
that
piece
of
it,
it
says
we're
up
9.2
percent,
but
if
we
look
at
from
the
prior
now
peak
that's
been
established.
B
B
Similarly,
that
we're
up
10.5
percent
when
we
look
at
sort
of
free
pandemic
to
current,
but
again
we're
down
five
percent.
When
we
look
at
the
latest
peak
the
wage
side
of
things,
the
wage
growth
is
9.7
percent
above
the
previous
peak
and
then
we're
looking
at
the
growth
rates
for
personal
income.
And
here
it's
pretty
comparable
between
the
u.s
and
nevada,
because
it's
7.6
to
7.5
percent
from
the
period
prior
to
the
pandemic.
B
B
But
again
these
last
two
quarters.
You
see
that
we're
faster
than
the
us
average
for
these
last
two
quarters
and
that's
kind
of
going
back
to
the
same
trends
that
we
saw
prior
to
the
pandemic
impact
and
also
prior
to
the
great
recession.
B
But
in
inflation-adjusted
terms
you
can
see
that,
although
it
grew
9.8
percent
in
normal
terms,
because
of
the
inflation
component,
it's
only
up
3.9
percent
over
that
same
period
and
again
the
fall
from
the
peak
is
5.1
percent
in
nominal
terms.
But
inflation
adjusted
terms,
it's
much
more
dramatic
that
it's
actually
down
8.5
percent.
At
the
u.s
level.
B
We
look
at
nevada
very
similar
in
terms
of
the
trend
it's
up
8.7
pandemic
to
current,
but
from
the
previous
peak,
it's
down
5.7
and
then
in
the
inflation-adjusted
terms,
it's
only
2.9
percent
growth
compared
to
the
nominal
8.7,
and
then
the
decline
of
5.1
from
the
previous
peak
turns
into
a
minus
9.1
percent
from
the
peak
and
inflation
adjusted
terms
for
per
capita
personal
income.
B
B
This
is
the
growth
rates
just
for
the
per
capita
personal
income,
both
the
u.s
and
nevada
side
by
side.
Again,
it's
more
comparable
in
terms
of
the
comparison
at
7.3
percent
from
the
second
quarter
of
2020
to
the
most
recent
quarter
versus
6.2
percent
in
nevada
and
again
just
noticing
that
this
very
last
quarter.
The
third
quarter
of
2021
third
quarter,
that
the
u.s
growth
rate
is
actually
slightly
below
nevada's
growth
rate,
similar
again
to
how
the
trend
was
just
prior
to
the
onset
of
the
pandemic.
B
Current
but
again,
when
you
factor
in
the
effects
of
the
inflation,
it's
actually
up
only
11
and
really
gone
flatter
down,
even
since
the
impact
of
losing
all
those
jobs-
and
this
is
really
a
another
illustration
of
losing
a
lot
of
the
jobs
in
the
leisure
and
hospitality
sector
which
ultimately
caused
that
wages
to
go
up
at
the
initial
part
of
the
pandemic.
And
then
these
inflation
adjusted
terms
really
go
flat.
B
Again,
this
is
just
both
the
u.s
and
nevada
on
a
side-by-side
comparison.
Just
so,
you
can
see
the
difference
in
u.s,
12.2
percent
and
nevada
17.3
from
the
same
point,
sort
of
pre-pandemic
to
current
and
then
again
the
inflation-adjusted
comparisons
for
both
the
us
and
nevada,
with
6.2
percent
for
the
us,
and
up
11
for
nevada.
B
This
was
a
trend
that
we
saw
before
the
great
recession
that
nevada
actually
exceeded
the
national
average
in
terms
of
median
household
income,
and
then,
when
we
had
the
recession,
we
were
below
that
for
quite
a
while.
Until
this
2019,
we
actually
sort
of
regained
our
position
in
terms
of
being
higher
than
the
u.s
average.
But
then,
with
the
onset
of
the
pandemic,
you
can
see
that
nevada
has
fallen.
This
14
percent,
whereas
the
u.s
has
fallen
1.7
percent
in
household
income.
B
B
In
the
last
couple
of
charts,
we're
just
showing
that
nevada
general
fund
revenue
per
thousand
dollars
of
personal
income,
I
think
this
will
sort
of
lead
into
mr
guindon's
presentation
that
he'll
do
following
this,
but
we
just
kind
of
measure
the
general
fund
for
thousand
dollars.
A
person
come
to
look
at
over
time.
How
that
has
changed
and
we
see
the
impact
of
the
decline
in
revenue
in
fy
2020.
But
then
a
slight
rebound
here
in
fy
2021.
B
And
then
this
just
shows
the
both
general
fund,
growth
rates
and
personal
income
growth
rates
to
just
show
those
two
side
by
side
and
sort
of
the
trend
that
they
both
operate
on
and
sort
of
move
together.
In
that
this
last
observation,
fy
21,
the
personal
income
growth,
was
just
over
five
percent,
whereas
the
general
fund
growth
rate
ended
up
at
just
under
10,
and
that
concludes
that
part
of
the
presentation
and
I'll
be
happy
to
answer
any
questions.
A
Okay
members,
any
questions.
A
A
Three,
and
I
guess
what
I
was
trying
to
figure
out
was
what
was
triggering
the
change,
because
you
kept
repeating
that
we've
had
significant
loss
in
leisure
and
hospitality,
but
I'm
trying
to
figure
out
on
this
slide.
What
is
triggering
this
particular
change
and
and
what
what
do
we
have
in
regards
to
retirement
because
we
did
have?
I
don't
know
if
it
happened
here,
but
I
know
nationally.
B
B
It
causes
that
average
per
employee
to
actually
go
up
quite
a
bit
and
now,
as
we
see
we're,
adding
some
of
those
jobs
back,
we
see
that
the
growth
rate
has
kind
of
come
back
down
quite
a
bit.
So
that's
really
sort
of
the
thing
that
it's
counter-intuitive
in
that
it
looks
like
hey.
Wage
growth
is
really
great,
but
it's
more
a
factor
of
the
loss
of
the
large
number
of
jobs
in
leisure
hospitality
that,
on
average,
were
lower
than
the
average
wage
for
all
jobs
in
the
state,
and
so
that
caused
the
spike.
B
A
Because
because
my
other
question
was,
I
was
also
wondering
I
I
had
noticed
that
there
was
a
trend
when
the
workforce
rates
were
down
and
to
incentivize
workers
to
come
back.
They
were
increasing
the
wage
and
whether
or
not
within
certain
sectors.
That
was
also
helping
to
trigger
and
see
kind
of,
like
that
spike
in
a
salary
growth
rate
in
nevada,
because
now,
instead
of
offering
nine
dollars
an
hour,
we
saw
certain
folks
offering
11
an
hour
so
like
like.
Maybe
it
you
know
domino's,
you
know
it
was
nine.
A
B
B
But
that's
combined
with
this
shock
to
the
system
in
terms
of
losing
a
bunch
of
those
jobs
and
then
now
we're
slowly
bringing
some
of
those
jobs
back
and
then
also
the
factors
that
you
just
talked
about
that
you're
actually
seeing
some
wage
gains
independent
of
the
job.
You
know
employment,
growth
or
decline.
A
Okay,
so
I
I
really
wanted
to
have
this
conversation
just
to
kind
of
give.
A
You
guys
context,
because
I
wanted
to
understand
kind
of
what's
happening
nationally,
what's
happening
in
nevada,
because
we
have
these
conversations
around
income
growth,
wage
growth,
where
are
nevadans,
and
it's
really
good
to
help
us
try
to
understand
like
what
is
happening
in
our
state
when
we
talk
about
revenue
and
when
we
talk
about
revenue
policy,
sometimes
well,
not
sometimes
all
the
time,
it's
really
good
to
have
a
broader
scope
of
how
that
revenue
policy
can
gain
an
impact,
because,
still,
at
the
end
of
the
day,
when
you
have
you
know
these,
these
kinds
of
changes
happening
within
income
and
salary,
we
have
to
determine
still
you
know:
what's
the
appropriate
pacing
in
order
to
still
stabilize
you
know
our
revenue,
which
stabilizes
our
services,
because
if
we
still
have
a
loss
of
individuals
within
the
workforce,
that
means
that
they're
still
relying
on
services
and
those
services
still
have
to
be
there,
and
we
still
have
to
pay
for
those
services.
A
And
so
there's
always
that
that
inner
question
of
art
do
we
have
enough
revenue
to
continue
to
sustain
whatever
that
percentage
of
persons
that
are.
You
know
now
relying
on
services
that
we
have
to
continue
longer
because
the
pandemic
is
still
going
on,
and
so
I
just
like
to
think
about
those
things
in
those
terms,
because
I'm
always
thinking
globally
about
is
there
enough
revenue?
And
I
know
people
are
like?
Oh,
but
you
know
we
had.
A
A
If
there
is
a
shift,
because
in
2025
we
may
see
an
entirely
different
landscape
and
I'm
a
pre-planner
right,
I'd
like
to
plan
for
what
could
be
rather
than
try
to
haphazardly
move
policy
in
2025
when
people
are
scrambling
and
trying
to
figure
out
how
to
take
care
of
the
needs
of
the
state,
and
so
that
was
my
reason
for
wanting
to
have
this
conversation,
because
I
feel
like
we
get,
we
get.
A
We
settle
and
say:
oh
we're
good,
and
we
don't
really
need
to
do
anything,
but
I'm
always
thinking
about
how
can
we
plan
and
be
better?
I
don't
know
how
many
people
on
the
committee
try
to
plan
for
the
future,
but
I'm
I'm
seriously
about
planning
for
the
future
and
making
sure
that
we
have
staff.
Our
tax
statutes
actually
have
enough
revenue
for
what
could
be
the
future
impact
on
the
state.
So
I'm
just
putting
that
out
there,
because
that's
going
to
be
a
consistent
trend.
As
I
build
into
my
modernization,
persuasion,
tactics.
E
Thank
you,
madam
chair,
for
the
record
russell
again,
and
so
I
have
the
next
agenda
item.
Item
10.,
and
so
this
item
comes
out
of
sort
of
the
discussion
and
statements
that
the
chair
just
made
of
asking
staff
about
looking
at
the
state's
revenue
sources
in
in
terms
of
this
inflationary
environment
that
we're
in
now,
but
inflation
in
general.
But
also
what
does
it
mean
to
look
at
our
revenue
structure
in
the
different
taxes?
E
And
so
clearly,
I
think
all
of
you
are
totally
aware
that
yeah,
the
inflation
component
of
attacks
can
depend
on
the
statutory
structure
for
the
tax,
such
as
the
sales
tax.
As
the
price
of
things
go
up,
then
the
sales
tax
should
also
go
up
and
then,
obviously,
as
people
come
to
the
state
or
the
people,
regain
their
jobs
and
start
consuming
more.
That's
the
demographic
component
of
a
tax.
So
we
have
taxes
in
the
state
general
fund
that
have
both
a
demographic
and
an
inflationary
component
to
them,
such
as
the
sales
tax.
E
E
E
So
I
just
thought
through
this
and
put
together
this
set
of
tables,
and
so
what
I
have
here
is
in
scenario
one.
Let's
just
assume
you
have
year,
one
so
you're
you
wanna,
have
a
program
or
revenue
source
and
set
up,
and
let's
say
that
it
generates
a
hundred
dollars
in
year.
One
and
you
have
one
person
that
you're
going
to
provide
services
to
using
that
revenue
as
a
caseload.
E
E
and
in
an
inflation
adjusted
it's
the
100,
because
this
is
our
base
reference
here,
because
whenever
you're
doing
inflation-adjusted
things
you
have
to
have
a
a
reference
or
a
base,
and
then
I
just
wanted
to
get
the
construct
of
that.
You
can
go
index
and
so
it'll
be
less
relevant
here
for
scenario
one,
but
as
I
move
into
I'll
explain
the
index.
So
let's
assume
here
in
scenario
one
that
in
year,
two
the
revenue
source
generates
the
same
as
the
year
one
a
hundred
dollars.
So
there
was
no
increase
in
the
revenue.
E
But
after
you
adjust
for
inflation,
you
can
see
that
you're
still
in
inflation,
adjusted
per
person
terms
you're
at
a
hundred
dollars
per
person.
That's
what
the
inflation
is
doing
when
you
adjust
for
that.
Is
you
go
yeah?
It
looks
like
we're
five
percent
better
off
than
you
are,
but
and
if
you
want
to
measure
it
in
relation
to
what
you
were
collecting
or
spending
and
that
a
base
reference
year,
you
can
see
that
inflation
adjusted
per
capita
terms
here,
no
better
off.
E
So
then
the
indexing
is
simply
taking
and
dividing
these
numbers
by
the
reference
year
year,
one
so
you
get
in
the
funding
revenue.
You
get
an
index
of
105
compared
to
the
base
year
of
one
or
the
five
percent
increase.
You
get
the
105
compared
to
one
the
five
percent
increase
per
capita
but
zero.
So
indexing
is
a
way
to
take
things
that
don't
have
the
same
scale
and
put
them
on
a
comparable
scale
by
indexing
to
a
reference
unit.
E
So
then,
in
scenario
three
here
we
now
go
well,
your
revenue
and
your
funding
for
this
program
increased
by
a
hundred
dollars.
So
it
went
up
100
to
200,
but
there's
also
a
caseload
increase
of
one.
Well,
that's
a
hundred
percent
increase
in
the
load
going
from
the
one
to
two
and
again
here
we
have
no
inflation,
so
you
can
see,
then
that
in
per
capita
terms,
you're
you're
at
a
hundred
dollars
in
each
year
in
inflation,
adjusted
you're
at
a
hundred
dollars.
Why?
E
Because
the
revenue
or
funding
amount
you
need,
went
up,
it's
the
same
as
your
case
loads,
so
you're
standing
in
the
same
place
in
both
per
capita
terms
and
inflation
adjusted
terms
over
the
two
years
year,
one
and
year
two
and
then
you
can
just
see
the
indexing
is
showing
the
same
effect
in
terms
of
the
percent
changes.
E
When
you
look
at
the
metrics
that
are
being
computed,
so
in
scenario,
four,
we
have
it's
like
scenario:
three,
where
you
have
a
hundred
dollar
increase
in
your
revenue
or
funding
amount,
and
you
have
the
case
load
increasing
by
one
going
from
one
to
two.
But
you
now
have
five
percent
inflation,
so
you
can
now
see
per
capita
terms.
It's
like
scenario,
three,
that
you're
before
you
account
for
inflation,
you're
spending,
a
hundred
dollars
per
person
or
you
have
the
revenue
of
a
hundred
dollars
per
person.
E
One
you
get
this,
the
metrics
to
show
the
same
result
and
but
you'll
see
when
I
get
to
the
charts
here
in
a
little
bit
where
these
constructs
come
into
play.
Finally
scenario:
five
is
showing
okay,
your
revenue
didn't
go
up
from
100
by
a
hundred
dollars
to
200.
It
went
up
by
a
hundred
and
ten
dollars
from
100
to
210
dollars
here
or
110.
E
E
Hey
it
went
up
by
105
to
105
dollars
per
person
or
by
the
five
percent,
but
in
inflation,
adjusted
for
capital
terms,
you're
standing
in
the
same
place
as
your
year,
one
reference
year
and
then
again
the
the
indexing
metrics
show
the
same
results.
Why
is
this
so?
When
you
think
about
you,
have
a
program
or
a
revenue
source
that
has
funding
tied
to
it,
and
you
want
to
think
about
how
does
this
compare
to
a
past
reference
year?
E
You
can
now
see
as
how
the
metrics
can
work
out
when
you
look
at
a
per
capita
and
inflation-adjusted
per
capita
terms.
They'll
allow
you
to
compare
back
to
that
prior
period
and
thus,
in
a
sense,
you
saw
that
in
mr
real's
charts
when
he
was
showing
the
personal
income,
the
wage
and
salaries
on
the
the
the
current
dollars
in
the
inflation
adjusted
dollars.
E
So
with
that,
madam
chair,
that's,
I
just
wanted
to
get
out
there
to
sort
of
show
these
simple
examples
that
this
is
this.
This
construct
here
of,
what's
going
on,
because
you'll
see
that,
in
this
table
of
charts
that
I'm
going
to
bring
up
now
for
the
the
total
actual
general
fund
and
and
it's
my
hope
that,
as
this
committee
continues
to
look
at
other
revenue
sources
during
this
interim
you'll,
we
can
keep
this
same
kind
of
context
in
place.
E
E
E
E
So
what
this
is
showing
the
the
actual
total
unrestricted
general
fund
revenue
for
each
of
these
fiscal
years
and
in
the
forecast
for
the
last
few
years,
it's
showing
you
the
statewide
population.
These
are
the
state
topographers
governor,
certified
estimates,
except
for
the
last
three
years
which
are
based
on
the
demographer's
projections.
E
Here's
the
consumer
price
index
and
I've
indexed
it
so
that
fy
1990
equals
one
to
reset
the
base
reference
year
to
fy
1990
as
you'll
see
it.
When
I
go
forward
here
and
then
I've
taken
showing
you
the
combined
population
and
inflation
growth
rate
and
then
calculating
the
inflation
adjusted
per
capita
or
dollars
per
person
in
terms
of
general
fund
revenue,
inflation
adjusted
per
person.
E
So
then
here
I
blocked
it
out
with
the
lines
to
just
try
and
show
you
those
since
we're
a
biennium
state,
they're
the
bienniums.
And
so
it's
just
like
again.
This
came
out
of
a
legislative
request,
possibly
around
eight
to
ten
years
ago,
and
thought
given
senator
niels
as
chair,
a
discussion
about
looking
at
inflation,
looking
at
what
it
means
to
be
as
a
revenue
committee
evaluating
the
state's
revenues
and
revenue
structure.
E
So
if
we
come
down
here
to
the
bottom,
you
can
see
the
average
over
the
entire
period,
including
the
two
forecast
years,
and
we
did
not
get
a
chance
to
to
go
to
that
and
possibly
a
future
meeting.
Michael
akamoto
can
make
his
presentation,
but
in
terms
of
how
the
actual
collections
for
fy21
compared
to
the
forecast
and
then
the
show
how
the
current
year-to-date
collections,
but
this
this
forecast
here-
minus
1.1
percent.
That's
comparing
the
forecast
for
22
to
the
axle
for
21..
E
So
but
I
just
want
to
point
out
so
this
is
a
little
bit
of
an
anomaly.
That's
coming
out
of
the
data,
but
these
are
the
forecasts.
Thus
these
are
the
growth.
But
if
you
look
over
the
entire
historical
period
from
1990
to
fy
2023,
the
average
growth
in
the
general
fund
revenues
were
6.1
percent,
but
population
grew
3.1
percent.
On
average
inflation
was
2.6,
so
inflation
and
population
grew
5.7.
E
E
But
you
can
see
that
the
growth
here
in
your
general
fund
revenues
on
average
over
the
different
decades,
realizing
that
we've
only
got
two
actual
years
and
two
forecast
years
in
this
biennium
so
far,
but
you
have
for
the
1992-91
99
by
decade
you
had
8.7
growth
average
in
general
fund
revenues,
but
only
0.1
percent.
After
counting
for
inflation,
then
you
go
to
fy
2010
to
2019.
You
had
an
average
growth
of
4.7,
remembering
we
had
the
great
recession
affecting
that
decade,
and
so
you
had.
E
But
you
come
over
here
and
go
well.
We
had
1.6
growth,
which
was
much
higher
than
these
prior
reference
periods.
Well,
you
go.
E
Sorry,
so
this
is
page
126,
and
this
is
just
going
to
chart
the
data.
That's
in
the
table
and
I
think
lots
of
times
both
tabular
and
graphic
presentations
of
the
information
are
helpful
because
I
think
we're
all
wired
differently
in
terms
of
how
we
process
information.
So,
but
what
this
chart
does
is
it
takes
those
the
growth
rates
from
the
table
and
so
the
thick
blue
line
here.
E
That's
the
growth
in
general
fund
revenue
fiscal
year
to
fiscal
year
over
that
complete
historical
period,
the
thin
line-
and
this
is
actually
looks
like
blue-
it's
a
light
purple
in
the
real
world,
so
that
is
the
inflation
rate
from
fiscal
year
to
fiscal
year.
The
thin
red
line
is
the
growth
in
population.
E
E
E
Right,
because
that's
what's
happening
is
when.
If
your
inflation
and
population
growth
outpaces
your
revenue
growth,
then
the
inflation
adjusted
per
capita
has
to
go
down.
So
when
you're,
looking
at
things
in
terms
of
just
separating
out,
say
the
red
line
population
and
this
thin
blue
slash
purple
line
of
inflation.
E
Well,
you
can
see
here
there
are
times
where
a
the
both
both
of
the
thin
lines
can
be
below
your
growth
rate
and
general
fund
revenue,
but
population
inflation
combined
were
above
your
revenue.
E
So
then
you
see
in
those
fiscal
years
where
either
population
or
inflation
growth
was
greater
than
your
revenue
growth.
Then
you're
clearly
going
to
have
trouble,
maintaining
your
inflation-adjusted
revenue,
inflation-adjusted
per
capita
revenue,
so
that's
just
in
a
sense
graphically
showing
the
growth
rates
that
are
in
the
chart.
So
then
you
go
well.
Let's
plot
the
general
fund
revenues
actual
so
this
is
you
can
see.
This
is
the
current
dollars
or
the
actual
dollars
and
then
here's
inflation
adjustment.
E
So
it
allows
you
to
see,
like
mr
real's
charts,
that
you
can
see
the
growth
that
will
occur
in
your
dollars,
but
then,
once
you
account
for
inflation
from
time
time,
you
see
it
doesn't
grow
as
much
or
at
many
times
it
may
actually
flatten
out
compared
to
the
growth
that
you
see
and
again
due
to
the
inflation
once
you
adjust
for
inflation.
So
right,
inflation
is,
can
be
a
factor
along
with
your
demographics
that
are
causing
your
revenues
to
grow.
E
But
when
you
have
to
account
for
the
the
inflation
relative
to
this
fy
1990
reference
period,
then
you
see
the
results
that
occur
and
I'll
just
point
out.
There's
nothing
magical
about
picking
up
as
the
reference
period,
but
you
have
to
pick
a
reference
period
when
you're
going
to
do
this
kind
of
analysis
and
presentation,
and
I
just
tried
to
pick-
I
was
asked
by
the
legislator
to
go
back
as
far
as
I
thought
reasonable.
E
So
I
went
back
all
the
way
back
to
fy
1990
when
I
was
doing
this
about
10
years
ago
and
fy19
1990.
E
E
But
then
so
you
can
see
what
was
going
on
and
then
I'll
just
point
out
here
now
in
this
chart.
So
to
use
that
as
reference
well.
So
in
2003
that
we
had
a
fairly
significant
change
to
taxes
that
was
estimated
to
generate
somewhere
around
800
and
some
million.
And
then
what
happened?
Is
we
just
we
caught
the
economy
right
being
in
that
very
hot
state
that
we
did
the
tax
increase
in
the
2003
session,
because
the
tax
changes
became
effective
in
fy,
2004
and
five
and
then
you
can
see
what
happened.
E
And
then
we
have
the
great
recession
here
and
then
in
the
2009
session
there
were
revenue,
enhancement,
actions
taken
one,
possibly
one
of
the
more
notable
ones
was
the
ip1
for
the
three
percent
room
tax
was
put
in
place
that
went
into
the
general
fund
for
a
few
years
and
now
is
in
the
state
education
fund.
E
So
that's
what's
happening
so
then
the
next
chart
goes
and
says.
Well,
let's
now
the
first
chart
that
I
just
showed
the
previous
chart,
I
showed
you
was
just
accounting
for
inflation.
So
now,
let's
account
for
the
demographic
component,
I.e
population
and
put
it
on
per
capita.
So
again,
here
you
can
see
what
happened
on
the
current
dollar,
so
the
actual
dollars
divided
by
population
to
get
per
capita
here
they
are
in
inflation.
Adjustment
per
capita
so
again
the
reference
period,
fy
1998
was
650
approximately
per
person
in
inflation-adjusted
terms
and
the
current
dollars.
E
So
then
you
can
see
as
the
current
dollars
are
increasing
but
cheap.
Then
you
can
see
that
basically,
from
this
period
through
here,
inflation
adjusted
per
capita
terms
general
fund
revenues
on
it
were
generally
going
down
over
that
view,
then
you
had
the
tax
changes
that
got
us
up
above
the
650
that
for
the
fy
1990
reference
period,
because
again
we
had
the
tax
changes
and
caught
up,
possibly
overheated
hot
economy,
and
then
here's
the
great
recession
filled
back
below
the
650
amount.
E
The
2009
tax
changes
got
us
back
above
that
reference
point,
and
then
we
started
falling
again
and
then
you
had
the
2015
session
tax
changes
that
got
us
above
this
fy
1990
650
per
person,
reference
period
in
inflation,
adjusted
per
capita
terms,
and
then
you
can
see
the
fy,
21
actual
actually
came
up
from
fy
2020
and
then
again
you
have
the
forecast
period.
But
again
I
will
point
out
those
are
the
numbers
but
they're,
possibly
a
little
anomalous
just
because
of
where
the
forecasts
are
in
relation
to
what
we
probably
know
what's
going
on.
E
So
that's
allowing
you
to
see
the
data
in
a
graphic
form.
So
then
you
go
well.
Can
we
put
that
together
in
one
chart,
so
I
can
see
it
all
at
once,
and
the
answer
is
yes,
but
then
what
I
realized
when
I
looked
through
these
charts
again
last
night,
that
part
of
my
label
is
missing,
so
this
should
say
millions
of
dollars.
So
this
line
the
current
dollars
in
inflation
adjust
dollars.
E
Those
are
millions
of
dollars
like
the
chart
was
what
this
should
also
say
in
dollars
per
person
for
the
per
capita
child
right,
because
I'm
taking
this
chart
and
putting
it
together
with
the
other
check.
So
I
apologize
for
that,
but
the
millions
it
should
say
millions
of
dollars
and
dollars
per
person,
because
these
are
the
charts
that
are
on
the
per
capita
that
are
dollars
per
person.
E
So
you
can
see
one
of
the
problems
that
you
have
when
you
try
and
bring
just
inflation
adjusted
measures
into
one
chart
and
per
capita
that
I've
got
a
scale
problem,
white
ones
and
millions
of
dollars
ones
in
dollars
per
person.
So
you
can
put
them
in
the
same
charts,
but
your
reference
point
gets
hard
at
times.
So
then,
what
we
do
is
we
index
and
that's
what
I
was
doing
the
other
chart.
So
what
you
do
in
indexing?
E
So
now
you
can
put
all
the
metrics
together
into
one
chart
and
look
at
what
they
look
like.
So
here
is
the
increase
in
actual
general
fund
dollars,
as
you
can
see
it
occurring
and
again
the
sessions
where
taxes
were
changed
and
how
they're
going
up
well
here
it
is,
after
you
adjust
for
inflation
here
it
is
comparing
it
on
per
capita
terms,
but
not
adjusting
for
inflation.
E
E
So
finally,
then
what
I
thought
it
might
be
worth
pulling
out
this
bottom
line,
so
you
can
see
it
as
to
where
it
was
going
down
here.
E
So,
at
one
point
time
here,
fy
2003,
the
general
fund
revenues
per
capita
were
approximately
14
below
that
fy
1990
reference
group
in
terms
of
the
dollars
being
generated
per
person
on
an
inflation-adjusted
per
capita
basis,
and
so
then,
here
again
here's
the
tax
credits
that
are
going
up
coming
down
great
recession,
going
up
due
to
the
revenue
enhancement,
actions
that
were
approved
in
the
2009
session,
then
it
gets
down
to
almost
10
below
and
then
because
of
the
2015
session
it
gets
approximately
operating
somewhere
around
four
percent.
E
Above
that
fy
1990
reference
period
went
down
pandemic
and
then
it's
gone
back
up
to
approximately
four
percent
above
that
fy
1990
revenue,
then
the
final
way
that
you
can
then
go
look
at
this
in
terms
of
wanting
to
go
look
at
well.
How
did
our
general
fund
revenues
actually
perform
and
how
would
they
have
performed
had
we
taken
the
fy
1990
reference
period
and
they
would
have
grown
by
population
inflation.
E
E
So
then
this
dark
line
is
taking
the
fy
1990
amount
and
growing
each
year
by
the
growth
rate
in
population
inflation.
So
it's
another
way
of
visualizing
that
well,
if
you
would
have
started
an
fy
1990
amount
and
general
fund
revenues
would
have
increased
by
population
inflation.
This
is
what
it
would
have
generated.
E
E
Then
you
went
above
due
to
the
tax
changes
and
the
sort
of
heated
economy,
and
then
we
had
that
the
great
recession,
then
the
legislature
dealing
with
the
impacts
of
the
great
recession
on
general
fund
revenues
and
doing
revenue
enhancements
in
the
2009
session,
got
back
up
but
then
fell
back
off
and
then
the
2015
tax
changes
got
us
now
that
we
were
running
above
it
a
little
bit
and
then
here
you're
coming
down,
and
so
part
of
this
is
is
what
I'm
chair
members
of
the
committee.
E
E
As
we
talk
about
the
sales
taxes
and
other
taxes,
we
can
create
these
charts,
so
you
can
see
what
they
look
like,
because
I
think
you're
going
to
find
some
interesting
things
as
members
of
a
revenue
committee
when
you
say
to
go,
look
at
the
sales
tax,
which
does
have
both
an
inflationary
and
a
demographic
population
component
to
it
and
see
how
it
compares,
especially
for
the
state
general
fund.
The
two
percent
rate
has
been
the
two
percent
rate
right,
that's
the
rate
that
the
legislature
cannot
change
without
a
vote
of
the
people.
E
So
you
go
look
at
that
and
so
what's
changing
in
it
is
the
demographics
and
inflation,
but
also,
as
you
know,
we've
had
changes
here
in
the
last
few
years,
where
we've
picked
up
online
sales
into
the
sales
tax
base
through
the
wayfarer
versus
south
dakota
court
case
information,
implementation
of
that
court
decision
to
regulations,
and
then
we
had
ab445
from
the
2019
session
was
the
marketplace
facilitator
bill
and
we
could
try
and
get
information
to
see
what
would
have
that
done
as
to
you
can
see
general
fund
revenue
growth,
sort
of
this
uptick
here
prior
to
the
great
recession
and
to
see
if
we
can
look
at
what
revenue
sources
in
the
general
fund
were
triggering,
and
so
with
that.
E
Madam
chair,
that
was
the
information
that
I
wanted
to
present
on
this
agenda
item.
Giving
your
discussion
with
me
is
to
try
and
create
a
way
to
have
the
members
of
the
committee
start
thinking
about
revenue
sources,
the
general
fund
revenue,
this
inflation
and
demographic
component
to
what
it
means.
When
you
look
at
the
total
general
fund,
but
what
it
will
mean
is
we
potentially
look
at
other
revenue
sources?
A
So
any
questions
from
members
vice
chair,
cohen.
E
Well,
the
the
fed,
the
it
has
to
start
raising
interest
rates.
Sorry
for
the
record
russell
again
in
the
fiscal
division
that
the
trines
in
a
sense,
it
should
slow
the
economy
right,
because
higher
interest
rates
means
people
may
not
buy
houses
or
er
other
capital
purchases
that
require
interest.
Businesses
may
not
do
capital,
investment
and
stuff,
and
things
like
that.
So
then
higher
interest
rates
will
should
slow
the
economy.
How
much
we'll
have
to
see
and
then
and
as
you
slow
the
economy
should
that's
start
to
possibly
bring
inflation
back
under
control.
E
E
So
it's
it's
hard
for
me
to
think
about
some
of
these
economic
concepts,
such
as
raising
interest
rates
and
what
the
federal
reserve
is
doing
with
regards
to
managing
monetary
policy
in
relation
to
inflation
and
their
interest
rates
targets,
and
all
that.
So
it's
something
we
will
be
monitoring
and
have
to
watch
as
they
do
things
to
answer
your
question
from
the
forecast
side
of
things
versus
just
monitoring.
E
What's
going
on
with
actual
collections
in
relation
to
the
current
forecast,
it's
it's
a
good
thing
that
we'll
have
a
few
months
to
see
what
they're
going
to
do
and
see
if
we
can
get
any
data
to
figure
out
what
it
might
mean
for
the
economy,
because
under
the
economic
forum,
statutory
forecast
process,
the
forecasters
who
will
prepare
forecasts
and
present
them
to
the
economic
forum,
they
don't
have
those
first
meetings
till
october
november,
where
we
would
begin
to
present
preliminary
forecasts
before
presenting
the
final
forecast.
E
That
then
will
from
those
forecasts
will
adopt
forecast
on
or
before
december
3rd
2022
for
fy23
and
fy24
and
fy25
of
the
next
biennium.
E
So
I
I
know
that
may
not
have
been
the
response
you
were
wanting
or
expecting,
but
from
a
forecast
perspective
we
hopefully
will
we'll
have
some
information
and
some
of
the
supply
chain
stuff
can
get
worked
out.
So
maybe
at
least
those
issues
are
getting
behind
us
and
we
can
start
to
think
about
what
it
means
for
an
economy
going
forward
without
some
of
these
distortions
that
are
occurring
to
be
able
to
forecast
fy23,
fy24
and
fy25,
approximately
10
to
11
months
from
now.
C
Thank
you
cheerio.
I
I
do
have
questions,
but
I'm
I'm
still
trying
to
formulate
it.
So
that's
why
I
was
like
there's
a
lot
of
information
here
to
try
to
to
grasp
yeah,
I'm
so
sorry
I
I
don't
know
how
to
express.
C
A
Yeah,
so
any
additional
questions,
because
I
know
mr
ginn
and
I
have
one
quick
one
you
I
I
think
it's
quick,
but
I
really
wanted
to
know
how
how
it,
how
does
erosion
affect
our
tax
base
when
we
know
that
these
factors
are
going
on,
I
mean
I
kind
of
I
think
I
know
the
answer,
but
I
want
you
to
answer
it.
E
By
erosion
I
I
will
work
under
the
context
of
that
and
so
I'll
just
go
through
it,
and
you
can.
Let
me
know
if
I
got
close
to
answering
your
question
so
as
I've
talked,
let's
take
the
sales
tax,
so,
as
I
stated,
the
sales
tax
has
a
demographic
and
an
inflationary
component
to
it.
That
is,
is
as
people
come
to
the
state
or
visitors
come
to
the
state.
E
The
tax
taxes
should
grow
from
the
sales
tax
and
then,
as
inflation
goes
up,
then
hey
before
you
adjust
for
inflation.
Your
tax
collection
should
go
up
in
the
sales
tax,
but
then
what
you
can
have
is
things
that
affect
the
tax
base,
irrespective
of
the
number
of
people
who
are
consuming
and
buying
things,
be
they
residents
or
visitors.
E
So
if
you
have
things
that
end
up
that
are
exempt
so,
as
you
do
add,
exemptions
to
the
sales
tax,
in
some
sense,
you
guess
perhaps
under
your
vernacular
mountain
chair
is
that
could
be
consumed
as
it's
an
erosion
of
the
taxpayers.
Thus
everything
else
the
same
this.
The
tax
collections
will
come
down
because
you've
taken
something
out
of
the
tax
base.
That
previously,
somebody
could
consume
in
the
tax
refund,
but
realizing
that
right
that
those
can
be
a
very
important
policy
debates
that
elected
officials
have
to
do.
E
Finally,
I
think
you
can
have
the
things
that
have
been
discussed
by
ms
brainard
with
in
csl
and
and
you
brought
up,
and
possibly
your
staff
has
hinted
at
that
right
for
our
sales
tax.
Now
that
is
a
state
that
has
a
sales
tax.
E
That's
tangible
personal
property
been
that
way
since
1955
that
was
put
in
place,
other
states,
their
sales
tax
attaches
to
services,
and
perhaps
I
can
show
some
stuff
to
the
committee,
the
the
show
since
the
end
of
world
war
ii,
that
the
change
that's
occurred,
people
consuming
more
services
versus
goods
and
goods
being
tangible,
personal
property,
so
part
of
that
can
be
an
erosion
that
can
occur.
People
are
changing
their
consumption,
behavior
and
then
continuing
on
that,
madam
chair
can
be
well.
E
Not
only
are
they
they're
changing
whether
they're
buying
goods
and
services
they're
changing
how
they're
consuming
them,
such
as
that
was
brought
up
today
that
we
don't
buy
cds
anymore.
We
don't
buy
printed
books
very
much
we're
buying
things
in
the
electronic
or
digital
four.
So
right,
it's
those
things
and
vcs
stage.
Tapes
as
we
went
from
that
to
cds
well
at
least
vch
tapes
and
cds
were
still
tangible,
personal
property.
E
So
there
was
some
sales
tax,
but
as
you
transition
from
tangible
personal
property
to
intangible
or
non-tangible
personal
property,
then
your
your
tax
base
is
eroding.
I
guess
to
use
your
term,
and
now
you
can
see
the
final
part
that
he
did
well.
It's
not
only
why
we
used
to
buy
movies
and
cds
well
movies,
on
cds,
vhs
tapes
as
we
transition
to
that.
We
don't
do
that.
We
we
stream
stuff.
E
So
so
it's
not
only
in
in
part
of
all
where
the
additional
erosion
that
was
occurring,
but
we
at
least
nevada
and
many
other
states
have
been
probably
successful
or
personally
successful
in
stopping
some
of
that
erosion
was
the
transition
to
people
buying
things
online,
which
then
weren't
subject
to
the
sales
tax.
They
were
subject
to
the
use
tax,
but
now
to
the
wayfarer
versus
south
dakota
and
your
the
marketplace
facilitator
bill.
E
We've
been
able
to
sort
of
make
improvements
on
changing
the
erosion
that
was
occurring
from
that
change
in
people's
consumption
behavior,
just
because
of
what's
occurring
in
society
or
the
economy
with
regards
to
how
products
or
services
are
allowed
to
be
consumed
by
businesses
and
people.
So
hopefully
that
at
least
touched
a
little
bit
on
lady.
What
you
were
wanting
to
get
at.
A
A
What
is
the
effect
on
our
tax
base
in
what's
currently
happening
and
then
also
kind
of
have
the
ability
to
drill
down
when
mr
mr
guindon
talked
about
when
you
have
abatements,
which
to
me
is
looked
at
as
a
removal
of
items
from
the
tax
base
and
then
also
what
happens
when
you
fail
to
capture
things
in
the
tax
base,
because
there
is
a
shift,
which
is
what
guindon
is
describing
as
consumption
like
how
we
are
then
consuming
items
that
we're
taxing
or
not
taxing
at
this
moment
because
of
the
digital
activity,
we're
not
engaged
in
capturing
that
activity,
and
that
has
been
a
shift
in
consumption.
A
A
Will
it
be
the
saving
grace
later,
which
is
what
I
believe
or
not,
and
in
order
for
me
to
do
that
analysis,
it
is
to
think
about
all
of
these
factors
and
to
see
what
does
it
mean
when
we
fail
to
capture
activity
in
our
tax
base,
but
it
is,
but
it
is
an
actual
behavior
that
we
that
is
affecting
us
and
and
that's
where
I'm
at
right
and
I'm
just
kind
of
saying
all
this
to
kind
of
help.
You
guys
understand
like
as
chair.
What
am
I
thinking
about?
Why
do?
A
Why
do
we
do
this
kind
of
analysis
on
inflation
and
growth
and
wages,
because
the
argument
that
was
made
in
21
was
that
we
were
not
in
a
position
as
a
state
that
citizens
were
not
in
a
position
in
the
state
to
handle
a
digital
goods
tax?
A
Think
about
it
and
then
move
it
forward,
and
so
these
are
the
things
I'm
thinking
about,
because
I
don't
want
to
do
policy
in
a
vacuum.
I
want
to
do
a
policy
understanding
all
of
the
implications
of
the
decision
upon
nevadans
and
also
being
able
to
really
think
through
as
a
group,
the
benefits
and
the
setbacks,
and
so
I
hope
that
you
know
it
wasn't
too
much
and
you
guys
get
a
chance
to
like
really
process
through
all
of
it,
because
we're
gonna
build
upon
this
framework
and
go
deeper.
A
If
I
don't
know
if
that
makes,
anybody
feel
better
to
go
deeper,
but
I
want
to
do
a
deep
dive
into
revenue
and
actually
do
analysis
to
help
us
understand.
What
is
the
policy
that
we
should
be
doing
and
why
we're
going
to
do
it?
Put
aside
political
reasons
and
just
think
about
what's
good
for
nevada,
what's
good
for
our
future?
A
What's
good
for
planning
for
our
future
and
and
and
really
doing
analysis
on
how
nevadans
are
shifting
their
consumption
behavior
and
what
we
need
to
do
to
pick
that
up
so
I'll
put
a
period
there
and
then
we
can
go
to
which
is
agenda!
Item
number
11,
which
is:
what
are
the
topics?
Do
you
think
we
should
discuss
for
the
enter?
C
I
I
actually
just
want
to
thank
you
for
your.
You
know
for
your
imploring
us
to
look
at
this
at
a
30
000
foot
level,
because
I
think
that
is
we.
We,
we
have
wonderful
staff
that
can
conclude
the
details
for
us,
but
I
really
applaud
your
your
effort
at
having
us
focus
at
the
30
000
foot
level,
and
and
what
does
it
mean-
and
you
know
it's
an
important
responsibility
for
us
and
I
just
appreciate
your
thoughts
and
comments
on
that.
A
Thank
you.
I
appreciate
that
members
any
thoughts
on
what
you
would
like
to
study
during
the
interim
assemblywoman
consonant.
C
C
A
Yeah-
and
I
think
that's,
I
think-
that's
a
good
one,
because
if
you
remember
in
this
presentation
it's
one
of
the
ones
that
my
understanding
is
inflationary
resistant,
so
so
it's
definitely
appropriate
to
have
a
conversation.
It's
a
political
dynamite,
but
I
think
it
also
is
it's
a
modernization
conversation.
We
need
to
modernize
our
property
tax
statutes
in
general,
any
other
ideas,
assemblyman.
C
Has
been
an
excellent
presentation
by
staff,
I
always
I
always.
C
And
I
know
this
kind
of
came
up
during
the
ncesl
presentation,
but
when
you
start
looking
at
the
different
send
taxes,
I
think
that
you
also.
C
Some
of
that,
whether
it's
as
I
stated
earlier,
lowering
the
tax
to
prevent
the
black
market
or
targeting
the
black
market
a
little
more.
But,
as
you
stated,
madam
chair,
you
know
we're
missing
out
on
some
of
this
in
different
areas,
and
I
definitely
think
that
that's
something
that
we
should
be
looking
at
is
areas.
C
It's
people
smuggling
cigarettes
into
the
state
or
or
otherwise
definitely
hitting
us
in
that
realm,
and
so
I
I
do
look
forward
to
future
conversations.
C
Thank
you
chair,
and
I
I
just
wanted
to
echo
also
what
assemblymember
haven
brought
up,
what
an
excellent
presentation
and
looking
forward
to
the
discussion.
I
think
this.
This
was
an
item
that
was
discussed
a
little
bit
during
the
last
session.
I
think
assembly
member
kasama
had
touched
upon
it
a
little
bit
with
some
of
the
things
and
it
kind
of
goes
in
hand
in
hand
with
what
your
philosophy
is
as
well.
C
For
example,
if
the
for
the
hotel
room
tax,
if
somebody
pays
through
a
third
party
provider
and
not
to
the
hotel,
is
that
money
going
to
what
it's
supposed
to
go
to
those
sort
of
like
little
loopholes-
and
I
don't
think
I'm
wording
it
correctly,
but
that
idea
of
possibly
who's
providing
the
services
if
the
revenue
is
being
tracked
accurately
or
if
there
are
third-party
organizations
that
are
coming
in
and
making
a
big
change
to.
How
exactly
that
money
is
being
counted.
C
Thank
you,
chair
assemblywoman
anderson.
I
believe
assemblywoman
assembly
bill
363
for
the
short-term
rentals.
I
believe
it
has
responsibility
for
the
third
party,
like
the
airbnb
of
the
third
party
hosts,
and
I
believe
there
was
even
some
penalties
in
that
and
that
the
problem
with
enforcement,
I
think
it
will
be
random
audits.
It's
how
it's
set
up
to
double
check
that
they're
sending
in
the
revenue.
C
A
Thank
you
for
that.
Any
additional
ideas
on
what
to
study
during
the
interim.
A
Okay,
well,
this
has
been
a
good
meeting.
I
won't.
I
won't
implore
you
guys,
like
I'm
in
school,
saying
please.
I
write
letters
to
your
congressman
about
the
careful
balance
between
inflation
and
our
economy,
but
I'm
definitely
on
the
bandwagon
of
trying
to
make
sure
that
we
control
the
inflation
that's
going
on
in
our
environment,
so
that
we're
not
negatively
affected
in
the
state
of
nevada.
A
You
know
this
is
all
against
democrats
and
but
but
it's
a
real
conversation
that
we
knew
was
coming
and
it
had
to
be
worked
around
a
delicate
balance,
and
I
think
it's
time
that
we
have
that
conversation
or
at
least
start
raising,
that
up
the
same
way
would
raise
up
an
issue
of
medicaid,
because
it's
real
and
it's
gonna
affect
us
and
that's
the
end
of
my
political
statements
for
this
evening,
and
we
will
then
go
to
we'll
be
scheduling
future
meetings,
we're
going
to
go
ahead
and
get
that
schedule
out
after
this
meeting.
A
So
you
guys
can
put
that
on
your
calendar.
We're
probably
going
to
be
aiming
for
this
one
o'clock
time
period
after
I
get
off
work,
but
it
may
not
be
on
a
wednesday.
A
C
You
chair
neil.
There
are
no
participants
on
the
line
to
provide
public
comment
at
this
time.
A
Okay,
then
so,
then
we
will
go
ahead
and
adjourn
this
meeting.
Thank
you
guys,
everybody
for
being
here
for
our
first
meeting
and
think
about
your
questions
and
ask
russell
joe
and
mr
nakamoto
will
be
able
to
present
next
time,
and
I
apologize
that
he
couldn't
present
today,
but
have
a
good
wednesday.