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A
Good
morning,
I'd
like
to
call
the
meeting
of
the
economic
Forum
technical
advisory
committee
on
future
State
revenues.
To
order,
can
we
please
do
a
roll
call.
A
Yes,
thank
you
Mr
chairman
and
for
the
record
Russell
ginnon
with
the
fiscal
analysis,
division
of
legislative,
Council,
Bureau
and
so
I
will
call
the
roll
Wayne
Thorley
here,
Sarah
Kaufman,
here,
Matt
Lawton,
here
Mary
Walker
here
by
share
Amy
steffensen
here,
chair,
David,
Schmidt
here
and
Mr
chairman.
Let
the
record
show
that
Andrew
Klinger,
let
us
know
is
that
he
could
not
make
it
so
he's
absent
excused,
and
with
that
then
we
have
a
quorum
of
the
members
of
the
attack
and
we
can
proceed
with
the
meeting
Mr
chair.
A
Thank
you,
Mr
Goodman,
moving
to
agenda
item
two.
This
is
the
first
opportunity
for
public
comment
in
the
meeting.
Do
we
have
any
public
comment
here
in
Carson
City?
A
Seeing
none
do
we
have
any
public
comment
on
online
chair?
Your
public
line
is
open
and
working
and
you
have
no
callers
at
this
time
all
right.
Thank
you
very
much.
Moving
to
agenda
item
three.
We
have
the
review
and
approval
of
Revenue
forecasts
for
selected
general
fund
sources,
including
taxes,
licenses
fees,
fines
and
other
Revenue,
along
with
forecasts
for
various
tax
credit
programs
that
may
be
taken
against
certain
general
fund
sources
for
presentation
to
the
economic
Forum
at
the
forum's
December
5th
2022
meeting.
A
This
is
a
combined
agenda
item
slightly
different
than
how
we've
had
it
in
the
past,
so
we
have
both
the
tax
credits
and
the
revenue
forecasts
together
in
one
item
and
with
that
I'd
like
to
welcome
Mr
Gooden
to
go
through
the
revenue
forecast
materials.
A
Thank
you,
Mr,
chair
again
for
the
record,
we're
also
again
in
with
the
fiscal
analysis,
Division
and
so
before.
We
actually
get
into
the
heart
of
the
agenda
item
Mr,
chair,
I
just
want
to
go
through
that
you
should
have
four
tables
and
then
a
single
page.
That
is
a
set
of
charts,
and
so
you
should
have,
as
you
know,
from
the
last
meeting,
there's
the
table
three.
A
That
shows
the
various
the
forecast
by
the
agency
responsible
for
administering
that
Revenue
source
and
then
fiscal
and
budget
and
or
gfos
forecast,
and
these
would
be
if,
if
they
were
revised,
these
are
the
forecasts
that
each
entity
did
for
presentation
to
this
body.
And
then
you
have
table
three,
but
it
says
difference.
So
that's
the
difference
between
what
you're
looking
at
and
the
table
three
that
I
just
referenced
and
the
table
three
that
would
have
been
brought
forward
to
this
body
at
the
last
meeting.
A
And
then
you
have
the
technical
advisory
committee
forecast
table,
and
so
that
would
be
again
the
process
where
we
a
budget
and
fiscal
look
at
the
forecast
of
theirs,
as
well
as
from
those
agencies
that
we
asked
if
they
wanted
to
submit
revised
forecasts
and
we
don't
go
back
and
redo
all
of
the
agencies.
We
do
more,
the
the
major
ones
secretary
of
state,
treasurer's
office,
taxation,
Gaming,
Control,
Board,
and
then
you
have
the
so.
A
A
It's
showing
you
the
difference
between
the
tag
table
for
this
time
versus
the
number
fourth
meeting
and
then
finally,
you
have
a
single
page
that
has
four
charts
on
it
and
that
is
to
be
able
to
respond
to
miss
Walker's
question
regarding
the
unclaimed
property
and
so
I'll
address
that
more
Mr
chair
when
we
get
to
that
Revenue
item
and
so
then,
finally,
before
beginning
I,
just
as
last
time,
I
want
to
note
that
all
this
material
is
available
at
the
the
gfo's
website,
where
they
maintain
the
stuff
for
the
technical
advisor
committee.
A
So
all
these
documents
are
up
in
PDF
form,
but
if
anybody
does
feel
that
they
need
to
get
a
printed
version,
they
can
make
that
request
to
gfo
or
fiscal,
and
we
can
get
that
material
to
them,
and
so
with
that
Mr
chair
was
just
the
the
opening
remarks
that
I
wanted
to
make
for
this
agenda
item,
and
so
with
that,
if
it's
okay
with
the
chair,
we
can
sort
of
proceed
like
we
did
last
time
where
I'll
just
go
through
the
ones
that
I
think
that
are
worth
making
comments
about
and
I'll
apologize
in
advance.
A
That
there'll
be
a
lot
of
redundancy
here
to
the
last
meeting,
but
since
a
few
weeks
have
gone
by
for
the
members
as
well
as
any
of
the
public
that
may
be
listening,
I
think
for
it'll
mainly
concentrate
on
those
Revenue
sources
that
have
uniqueness
to
them.
When
you
look
at
the
tables
to
make
sure
we
just
get
that
on
the
public
record
for
this
meeting,
and
so
with
that,
then
I
realize
you
know
it's
a
little
hard.
A
But
if
you
can
keep
all
four
tables
sort
of
laid
out
and
so
I'll
try
and
go
to
them,
and
so
the
first
one
are
the
net
proceeds
of
minerals
and
and
the
mining
gross
revenue
tax
on
gold
and
silver.
A
And
so
there
you
see
the
the
current
forecast
for
FY
23
only
and
then
no
forecast
for
FY
24-25
and
that's
because
of
the
legislation
passed
in
the
20
human
session
requires
the
proceeds
from
the
state
portion
of
the
net
proceeds
of
minerals,
as
well
as
the
proceeds
from
the
new
gold
and
silver
excise
tax
to
go
into
the
general
fund
through
fy23
and
then
begin
going
to
the
State
education
Fund
in
FY
2024.
And
thus
this
body
and
or
the
economic
forum
is
not
responsible
for
forecasting.
A
This
revenues
that
go
to
the
State
education
form.
Excuse
me:
State
education
fund
you're
only
responsible
for
forecasting
unrestricted
general
fund,
Revenue
sources,
and
so
you
can
see
that
the
the
when
you
look
at
the
difference,
there's
a
upward
revision
to
the
forecast
of
net
proceeds,
which
is
somewhat
de
minimis
but
you'll
see.
A
Some
of
these
changes
are
not
very
big,
and
that's
because
sort
of
the
the
philosophy
or
strategy
is
each
forecaster
should
do
what
they
do
and
and
so,
whether
it's
and
then
not
for
gfo
or
fiscal
to
decide.
Well,
it
really
didn't
change
things
to
don't
change
things,
because
if
you're
going
to
go
through
the
process
of
actually
changing
your
forecast,
however
small,
then
it
should
just
be
incorporated
into
the
process.
So
you
can
see
even
though
it's
a
twelve
thousand
dollar
change.
A
That's
what's
going
on
and
you
can
see
that's
principally
because
fiscal
changed
our
forecast
for
FY
23
for
the
two,
as
well
as
in
the
budget
division
for
change,
their
gold
and
silver
forecasts
more
in
the
out
year,
and
thus
you
see
for
gold
and
silver.
It's
an
upward
division
of
approximately
1.8
million
dollars.
A
Okay,
sorry
Mr
chair
just
waiting
to
get
a
little
bit
of
noise
reduction.
So
that's
those
two
Revenue
sources
and
then
going
down
I.
Just
there
was
no
change
to
the
first
desk.
You
can
see
in
the
gaming
section
except
for
the
racing
fees
and
it's
very
slight
and
that's
just
to
True
up
against
what
we
actually
know
year
to
date
and
that's
also
part
of
the
process.
A
So
we
can
go
from
with
the
agencies,
letting
us
know,
or
we
can
go
into
the
controller
system
and
see
what's
posted
since
the
last
meeting,
and
we
believe
we
should
pick
that
up
if
they're,
whether
it's
a
upward
or
downward
revision,
and
so
that's
what's
going
on
otherwise
The
Gaming
Control
Board
and
did
not
revise
the
forecast
in
gfo
and
fiscal,
we're
still
comfortable
with
that
Outlook
and
I
just
hear
it's
worth
noting
again.
When
you
look
at
Advanced
license
fees,
why
you
see
the
that
it
goes
up
in
FY?
A
Then,
at
the
bottom
of
the
page
you
have
the
transportation
connection
excise
tax
remember.
This
is
the
three
percent
tax
that
on
the
charge
for
passenger
carriers,
so
taxi
cabs
limousines,
but
also
Uber
and
Lyft
those
types
of
Transportation
connection
network
company
entities,
and
so
we
got
some
additional
information.
A
And
then
you
can
see
looking
at
table
three,
that
there
is
a
revision
to
the
forecast
up
by
the
fiscal
division
in
the
budget
division
by
more,
and
so
then,
the
the
rule
that
we
used
is
the
average
all
three
forecasts
last
time
and
the
decision
was
made
to
maintain
that
rule.
So
thus
you
can
see
the
upward
revision
is
approximately
one
million
dollars
a
year
to
the
forecast
path,
and
so
then,
looking
at
the
cigarette
tax
there,
you
can
see.
A
Looking
at
the
additional
year-to-date
information
that
all
three
forecasters
made
downward
revisions,
but
there
the
rule
was
that
the
taxation's
forecast
was
not
included
in
the
forecast
last
time
and
even
though
they
they
changed
the
forecast
and
it
came
up
closer
budget
physical
thought
to
just
maintain
the
rule
of
the
fiscal
and
budget,
and
thus
you
can
see,
there's
a
more
of
a
downward
revision
about
1.5
million
in
fy23
and
then
around
400
000
in
the
out
years
in
terms
of
a
downward
relation.
A
So
with
that
Mr
chairman,
that's
the
things
that
I
wanted
to
comment
on
the
first
page
there
and
so
I
can
keep
proceeding
then
and
just
go
through
unless
there
you
want
me
to
pause
for
questions.
A
I
I
think
we
just
paused
for
questions
after
each
page.
So
if
there
are
any
questions
on
page
one,
okay,
thank
you.
A
Thank
you,
Mr,
sorry,
all
right
again
for
the
record,
Russell
again
and
I
just
need
to
myself
flip
all
the
pages.
So
you
need
to
flip
to
the
third
page,
because
the
next
page
is
blankets,
the
modified
business
tax,
which
is
handled
by
the
economic
Forum
explicitly
at
their
meeting
next,
this
upcoming
Monday.
A
So
on
this
page,
you
really
don't
see
that
many
changes
until
you
get
down
the
middle
of
the
page
for
the
government,
governmental,
Services
taxes,
the
first
one,
and
so
there
you
can
see
the
change
the
last
time
the
budget
forecast
was
excluded
from
the
averaging
Rule,
and
so
that
you
can
see
they
made
changes
to
the
forecast
and
it's
actually
closer
to
the
group,
but
that
the
decision
was
just
made
to
lead
them
out
of
the
average.
A
So
it's
really
more
of
a
path
adjustment
due
to
probably
having
additional
more
year-to-date
information.
So
then
for
the
business
license
fee.
You
can
see
there
that
there
were
revisions
to
the
forecast
by
the
fiscal
division
upwards.
A
The
budget
office
came
down,
and
so
then
the
rule
that
was
used
was
averaging
agency
and
fiscal
and
budget
was
included
and
even
though
they're
Changed,
by
the
closer
into
the
group
when
fiscal
and
budget
meant
to
go
through
it,
we,
the
decision,
was
to
maintain
the
rule
of
averaging
the
agency
in
fiscal,
and
thus
you
can
see
it
ends
up
revising
the
forecast
up
slightly
and
given
the
year
today
and
information.
A
We
thought
that
was
the
appropriate
move
for
this
Revenue
source
for
the
liquor
tax
there
you
can
see
that
there
were
revisions
more
by
the
Department
of
Taxation
there,
and
so
the
rule
last
time
was
averaging
all
three
forecasts,
and
so
that
rule
was
maintained,
and
so
there
it
ends
up
in
a
downward
revision
to
the
forecast
of
approximately
two
to
two
point:
five:
six
million
dollars
a
year
as
you
go
across
the
forecast
path
and
again
that's
sort
of
looking
at
the
the
what
we
were
able
to
get
reported
current
year
today,
the
the
other
tobacco
product
tax.
A
You
can
see
the
changes
there,
where
a
taxation
revised
their
forecast
down,
Tech
and
then
otherwise.
There
was
a
tech
makeup
forecast
and
so
that
one
last
time
taxation's
forecast
wasn't
included,
and
then
the
averaging
rule
is
just
fiscal
budget
and
on
gfo
and
fiscal
decided
to
maintain
that
rule.
So
you
can
see
it
results
in
a
slight
upward
Revision
in
the
first
two
years
and
it's
very
slight
downward
in
the
third
year.
A
So
I
would
argue
not
much
of
a
change
to
that
Revenue
source
and
so
with
that
Mr
chairman,
because
I'm
going
to
wait
for
the
tax
credits
till
the
end.
So
that's
the
comments
that
I
wanted
to
make
with
regards
to
the
revenues
on
this
page,
Mr,
chairman
and
I
can
address
any
questions
that
the
members
may
have
any
questions.
A
Thank
you,
Mr,
chair
again,
Russell
again
for
the
record
so
flipping
to
the
next
page,
and
so
we
have
the
licenses
block
of
Revenue
sources
and
then
fees
and
fines
on
this
page,
and
so
here
as
you
look,
there
really
isn't
much
change,
except
for
commercial
recordings,
Secretary
of
State,
and
so
again
we
I
got
an
additional
year-to-date
information
and
So.
A
Based
on
that,
you
can
see
the
fiscal
revised
therefore
cast
up
slightly
and
then
gfo
revised,
there's
a
lot
more
and
the
we
but
the
same
rule,
which
was
averaging
all
three
last
time
was
maintained
this
time.
Thus
you
see
the
upward
revision.
It's
really
you,
you
add
those
two
changes
together
and
you
know
you
get
one
third
of
them
is
to
in
terms
of
the
change
and
with
that
that
was
really
the
only
Revenue
source
that
I
thought.
A
When
you
look
at
the
the
changes
was
worth
mentioning
in
licenses,
then
in
the
fees
and
fine
section
I
think
again
you
look
there.
The
changes
were
to
the
short-term
car
rental
of
fiscal.
In
the
first
year.
B
C
C
B
Structure
and
again,
as
I
stated
at
the
last
meeting
and
I'll
say
it
here
again,
we
have
to
keep
it
in
this
Revenue
Source
because
of
the
number
of
taxpayers.
There
would
be
concerns
about
disclosing
information
about
individual
taxpayers
if
we
broke
peer-to-peer
out
as
a
separate
item.
So
since
it's
the
same
10
percent
tax,
it's
rolled
into
the.
A
Short-Term
Colorado-
that's
in
that
category,
but
then
you
can
see
the
revision
to
this
category
in
the
out
year,
again,
a
little
bit
by
fiscal
and
then
more
by
budget
and
but
and
the
rule
was
maintained,
which
is
the
averaging
of
all
three
forecasts.
This
time
that
was
used
so
then
approximately
you're
taking
that
and
splitting
one-third.
C
Of
it
as
the
adjustment
to
the
forecast,
and
so
with
that
Mr
chair,
that
was
the
comments.
A
That
I
wanted
to
make
with
regards
to
the
revenue
sources
on
this.
These
two
blocks
on
this
page
any
questions:
Miss
Walker
Russell
under
GL
number,
3152
Securities.
What's
the
633
thousand
dollar
reduction
in
2025.
A
So
that
would
be.
You
can
see
that
the
the
rule
there
for
that
Securities
is,
we
averaged
all
three
and
then,
if
you
look
at
the
table
three
difference.
The
budget
office
revised
their
fy25
forecast
down
by
approximately
2
million,
and
so
when
we
looked
at
it,
we
there.
B
Were
some
concerns,
but
we
thought
that
well
to
take
them
out
for
that
year,
only
or
that,
so
we
maintained
the
three-year
average
and
then
we're
willing
to
accept
the
slight
downward
Revision
in
that
out
year,
probably
because
there's
just
a
little
bit
more
uncertainty
out
at
the
end
of
the
forecast
Horizon.
Thank
you.
B
Anyone
else,
okay,
please
go
on.
Thank
you,
Mr
chairman.
So
then
flipping
we're
in
the
use
of
money
and
and
property
category
of
the
table,
and
so
these
are
the
repayments.
And
so
you
can
see
there's
no
change,
because
those
are
the
the
fixed
repayments
but
Mr
sorely
had
the
question
to
a
staff.
At
the
last
meeting
about
that.
B
In
the
21
session
there
was
a
50
million
dollar
general
fund
appropriation
made
to
the
education
stabilization
account,
and
then
there
there
are
repayment
Provisions
required
for
that
50
million,
but
the
repayment
Provisions
for
this
general
fund
appropriation
are
slightly
statutorily
different
than
the
the
other
repayments
that
you
see
listed
on
this.
So
after
staff
from
gfo
and
fiscal
thinking
about
it.
Talking
through
it,
there
there's
going
to
be
enough
money
and
that'll
be
transferred
from
the
SEF
to
the
education.
B
Stabilization
account
at
the
end
of
biennium
to
fully
cover
the
50
million
dollars.
So
we
thought,
because
of
the
uniqueness
of
the
statutory
structure
of
this,
and
that
there
will
be
enough
money
to
to
pay
off
the
50
million
dollars,
one
time
that
it
made
more
sense
to
handle
it
on
the
ending
fund
balance
tables
versus
having
to
bring
it
on
as
a
one-time
thing
to
the
economic
forums
tables,
because
we
would
have
to
make
adjustments
to
put
it
on
as
a
forecast
to
pick
up
the
actual.
B
So
after
discussing
two,
we
thought
that
was
the
better
course
of
action
for
that
Revenue
source,
and
so
that
is
the
response
to
that
question
from
the
last
meeting.
So
then
we
did
ask
the
treasurer's
office,
you
know
if
they
wanted
to
reconsider
the
their
and
they
did,
and
they
informed
us
that,
given
the
information
that
they
had,
they,
they
chose
not
to
revise
their
interest
forecast
and
so
gfo
and
fiscal
were
comfortable.
Staying
with
that
because
we
think
they
know
better
about.
B
Obviously
it's
an
interesting
time,
as
we
talked
last
time
with
what
the
Federal
Reserve
is
doing,
trying
to
engineer
the
soft
Landing
with
the
interest
rates
and
then
the
treasure
being
able
to
try
and
manage
the
portfolio
within
that
interest
rate
environment.
So
we
were
comfortable
staying
with
their
forecast,
also
gfo
and
fiscal.
Thus
there's
no
change
and
then
the
other
interest
category
is
just
we
look
at
the
year
to
date
and
we're
the
you
know.
The
budget
made
a
slide
upward
adjustment
for
us.
B
We
didn't
see
any
need
for
a
budget
to
make
a
change,
and
so
thus
you
can
see
for
that
block.
It's
the
easy
one
to
do.
It's
all
zeros
in
terms
of
the
difference,
then
down
on
the
other
Revenue
section,
really
I,
don't
think,
there's
anything
worth
mentioning
there
in
that
under
miscellaneous
sales
and
refund
section.
So
then,
under
GL
3255,
the
unclaimed
property.
You
can
see
that
the
the
the
there
were
no
changes
to
the
forecast.
Again
we
asked
the
treasurer's
office
and
they
informed
us
based
on
the
information
they
had.
B
There's
no
need
to
change
their
forecast,
and
then
fiscal
budget
went
looked
at
the
what
was
going
on
year
to
date,
since
the
last
meeting
no
changes
and
so
then
to
address
Miss
Walker's
question
to
staff
is
to
like
the
other
ones
you
can
see.
We
can
show
what,
where
we
are
here
today,
this
one
we
don't
and
so
Governor
questions
as
staff
thought
about
it.
We
put
together
a
set
of
charts
and
so
I
won't
belabram.
But
what
just
to
explain
that
a
lot
of
the
revenue
sources?
B
What
was
posted,
but
you
can
see
if
something
hits
September
30th
one
year,
but
hit
October
1st
the
prior
year
then
trying
to
compare
September
to
September
so
lots
of
times
what
we
do
is
look
at
it
more
on
a
streaming
which
is
hey
cumulative
year
today.
So
thinking
about
Miss
Walker's
question
was
okay:
how
to
do
this
when
took
the
data
from
the
controller
system
on
both
the
inflows
that
come
into
the
unclaimed
property
account
and
the
outflows
that
go
in
and
right.
This
is
occurring
as
we're
talking.
B
People
could
be
remitting
money
to
the
treasurer's
office
on
the
inflow
side,
but
people
are
making
claims,
so
I
went
through
and
pulled
all
the
transactions
and
that
were
for
each
month
and
then
did
the
cumulative.
So
the
chart
one
is
showing
you
the
the
inflows.
What
I
call
total
revenue
to
the
unclaimed
property
account
and
it's
for
fiscal
23
year
to
date
through
November,
but
it's
not
full
November,
because
I
would
have
done
this.
You
can
see
around
November.
B
Probably
18th
19th
would
have
been
the
information
that
I
dated
at
November
20th
and
then
for
the
last
two
fiscal
years,
and
it
would
have
been
nice
to
maybe
show
you
a
couple
more
fiscal
years,
but
there's
a
little
bit
of
Labor.
B
That
goes
into
compiling
this,
but
it
isn't
I
think
interesting
to
now
look
at
it
that
we
have
done
this
exercise
so,
but
you
can
see
how
there
is
a
little
bit
of
uniformity
to
how
it
flows
in,
but
you
can
see
between
FY
22
and
fy21
hey
at
the
end
of
the
fiscal
year.
It
can
get
interesting
because
of
the
nature
of
the
unclaimed
property
provisions
and
then
the
treasure
having
to
administer
those
for
in
the
inflows
and
the
outflows
so
then
chart
two
is
just
showing
you.
B
The
outflows
and
I
I
took
the
general
fund
transfer
app
because
if
I
didn't
take
it
out,
the
two
lines
would
match
right,
because
revenues
and
outflows
have
to
match
so
I
excluded
the
general
fund
transfer
and
again,
you
can
see.
There's
some
stability
to
the
the
year
to
year,
in
fact,
year
to
date
we're
pretty
much
where
we
were
the
last
two
years
and
so
then
flipping
it
over
the
chart.
Three,
that's
showing
you
the
net
difference
between
the
two,
the
inflows
and
the
outflows.
So
again,
this
I
mean
I,
didn't
notice.
B
I
put
this
together,
there's
more
uniformity
here
than
I
thought
a
fiscal
year
to
fiscal
year,
but
there's
a
little
bounds,
and
so,
but
looking
here
today,
we're
sort
of
running
close
to
where
we
were
last
two
years.
But
it
is
worth
noting
that
on
this
net
that
FY
21
and
FY
22
and
year
today,
23.
they
were
better
years.
B
Just
for
noting
fy18
the
the
general
fund
transfer
was
around
27
million.
It
was
around
21
million
in
FY
2019
and
around
31
million
FY
20..
So
these
were
better
years,
but
the
data
seems
to
be
leading
to
believe
that
unless
something's
going
to
happen
over
the
fiscal
year,
we
should
track
some
of
that
close.
But
again
you
never
know
so
then
chart
four
is
just
it's
putting
the
revenues
the
inflows
and
outflows
together,
my
child,
so
out
at
the
end
of
the
fiscal
year
in
June.
B
That
Gap
is
equal
to
what
the
chart
3
is,
is
the
transfer
so
Miss
Walker?
That
was
a
staff's
attempt
to
compile
some
information
to
allow
you
to
see
what
staff
is
looking
at
for
this
Revenue
Source,
because
of
its
uniqueness,
that
that
we
can't
really
compile
and
show
you
what
the
revenues
are
like.
We
do
for
the
other
ones,
because
it's
this
netting
out
effect,
and
so
with
that
Mr
chairman.
B
That's
the
comments
that
I
wanted
to
make
for
the
revenues
on
this
table,
and
so
maybe
before
going
into
the
tax
credits,
we
can
see
if
there's
any
questions
on
any
of
the
revenue
sources.
On
this
page,
any
questions
Miss
Walker
I
just
wanted
to
say
thank
you.
I
thought
this
was
very
interesting.
Thank
you
very
much
for
doing
that.
B
You're
welcome,
Miss,
welcome
and
it
actually
was
sort
of
interesting
to
put
together
and
probably
we'll
keep
maintaining
it
because
it
helps
us
think
about
when
you're
looking
at
it
and
forecasting.
Where
are
we
I
mean
we're
looking
at
that
already,
but
it's
a
more
tabular
format,
and
so
sometimes,
when
you
put
things
in
a
chart
versus
a
table,
it
you
visualize
it
differently.
A
B
That
was
more
because
we
were
working
with
taxation
sort
of
in
the
last
meeting
and
then
we're
able
to
get
the
information
on
right.
Several
of
the
tax
credit
programs,
but
especially
the
educational
choices,
people
make
donations
and
then
the
MBT
taxpayers
can
make
donations
and
then
they
can
get
tax
credits
and
then,
when
they
take
so
when
they
can
they're
granted
the
tax
credit
certificate
versus
when
they're
taking
it
can
get
off
with
across
fiscal
years
or
and
all
that,
especially
the
pandemic
caused
a
little
bit
of
distortions.
B
We
noticed
in
this
because
again
think
about
it:
it's
tuition
for
kids
going
to
school
and
there
was
a
little
bit
of
disruption
and
kids
going
to
school.
So
things
during
that
period,
so
things
got
a
little
off,
but
the
Department
of
Taxation,
based
on
requests
from
staff,
was
able
to
compile
the
information
about
what
credits
have
been
issued
and
more,
what's
still
remaining
to
be
taking
into
those.
So
we
got
a
number
that
led
us
to
believe
that
we
we
had
a
little.
We
were
assuming.
B
There
was
too
much
left
to
be
taken
so
based
on
that,
we
realized.
We
needed
to
come
down
a
little
bit
from
how
much
we
had
on
the
sheets
over
the
three
years.
So
then,
looking
at
the
first
for
the
first
quarter
of
credits
that
were
taken
against
MBT
that
was
reported
to
us.
It
was
slightly
above
the
first
quarter
year
ago.
B
So
and
since
there
was
approximately
11.8
million
dollars
taken
in
FY
2022,
we
thought
probably
we
should
revise
FY
23
up,
and
so
we
just
put
the
12
million
that
you
see
on
the
sheets,
which
then
revises
the
amount
of
credits
to
be
taken
up
by
the
600
000.
But
then
we,
since
we
had
less
credits,
we
had
to
then
reduce
and
we
believe
then
that'll
occur
in
FY
24..
So
then
it's
the
downward
revision
of
approximately
1.5
million
dollars.
So
that's
really
it's
the
adjustment
of
we.
B
We
got
more
accurate
information
on
the
amount
of
credits
that
were
still
outstanding,
and
that
was
a
little
less
than
what
we
thought
before
the
last
cycle,
and
so
we
made
that
adjustment
and
right.
This
is
guessing
where
they'll
take
him,
but
we
think
now
that
sort
of
schools
are
back
that
if
they
took
11
8,
then
the
12
million
seems
reasonable,
that
they'll
take
them
now
and
versus
pushing
them
off
to
be
taken
in
24-25.,
and
with
that
Mr
chairman
was
the
the
comments
that
I
wanted
to
make.
B
Please
go
on
so
so
that's
really!
The
the
revenue
and
tax
credit
forecast.
What
I
just
thought
what
I
would
provide
for
the
committee
is
to
give
some
information
on
the
changes
so
for
FY
23.
The
forecast
that
you're
looking
at
here
is
about
500
000
higher
than
the
FY
23
forecast
that
was
presented
to
this
body
at
the
November
4th
meeting
for
fy24.
It's
about
3.4
million
dollars
higher
and
then
for
fy25.
It's
about
1.8
million
dollars
higher.
So.
A
Over
the
three
years-
FY
23,
fy24
and
fy25,
it's
approximately
5.6
million
dollars
higher
and.
B
Then,
if
you
want
to
go,
look
at
the
23-25
by
a
m
that
is
fy24
to
fy25
compared
to
the
actual
for
FY
22
and
the
forecast
in
this
table
profit
23.
that
that
by
any
of
the
biome
difference,
is
approximately
144.6
million
dollars
less
but
remember
the
main
element
driving
that
is
the
npm
and
the
gold
and
silver
it's
in
there
for
22
and
23,
it's
not
in
there
for
24
and
25..
B
If
you
would
exclude
that
and
get
Apples
to
Apples
the
fy24
and
fy25
is
a
biennium
would
be
approximately
112
million
dollars
over
the
preceding
biennium.
So
I
just
think.
That's
worth
pointing
out
that
when
you
go
look
that
there
is
additional
Revenue
being
forecast
and
the
the
next
binding
compared
to
the
current
one
is
because
of
the
change
in
the
revenue
structure
is
driving
the
that
it
looks
like
they're
going
down.
B
Well,
it
doesn't
look,
they
are,
but
it's
because
of
the
chain
engine
that's
required
in
the
taxes
and
where
the
revenues
go
and
with
that
Mr
chairman.
It
was
the
additional
comments.
I
wanted
to
add
just
for
the
members
edification
and
with
that
I
can
answer
any
questions
that
the
members
may
have
any
questions.
B
Thank
you,
Mr
gundin,
I.
Think
with
that
we're
ready
to
accept
a
motion
to
approve
the
adjusted
Revenue
forecasts.
Here
we
have
a
motion
by
Miss
Walker,
second,
second,
by
Ms
Stevenson,
any
questions
or
any
discussion.
Rather,
okay,
all
in
favor,
please
signify
by
saying
aye.
B
Any
opposed.
Okay
motion
passes
I.
Our
next
agenda
item
is
one
final
opportunity
for
public
comment.
B
Does
anyone
in
Carson
City
want
to
make
excuse
me
chair
this
broadcast
I
hate
to
interrupt
the
meeting,
but
we're
having
a
problem
with
the
zoom
screen
showing
up
as
blue
your
broadcast
is
good,
but
if
there's
any
way
that
we
could
take
a
brief
recess,
disconnect
our
Sip
and
reconnect
you
that
way,
everyone
in
the
zoom
can
see
the
spreadsheets
and
see
what's
coming
through,
okay,
I
guess
we
will
be
okay,
brief
recess.
B
Okay,
thank
you
chair.
So
let's
talk
about
the
interruption
and
we're
still
having
an
issue,
but
since
we're
moving
to
public
comment,
that
should
not
be
an
issue
sorry
to
interrupt,
or
you
may
resume
your
meeting
all
right.
Thank
you.
So
I'd
like
to
I
guess
call
the
meeting
back
to
order
I.
Think
it's
the
right
thing
to
do
so.
We
left
off.
We
have
a
a
motion
from
Miss
Walker
and
or
we
we
voted.
B
We
are
on
public
comments,
all
right,
I'm
catching
up,
so
we're
in
public
comment.
No
one
in
Carson
City
wanted
to
make
public
comment.
Do
we
have
any
online
public
comment.
B
Chair,
your
public
line
is
open
and
working,
and
you
have
no
callers
at
this
time.
Okay,
great,
thank
you
with
that.
Our
public
comment
period
is
closed
and
this
meeting
is
adjourned.
Thank
you
very
much.