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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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A
Good
afternoon,
everyone
welcome
to
the
economic
forums
technical
advisory
committee
on
future
state
revenue.
As
many
of
you
are
aware,
the
the
immediately
proceeding
chair
has
retired,
and
so
as
Vice
chair
of
the
preceding
technical
advisory
committee,
I
will
be
presiding
over
the
committee
for
a
portion
of
the
meeting
up
through
agenda
item
three,
where
a
new
committee
chair
will
be
selected
and
with
that
Mr
ginnon.
Would
you
please
call
the
roll.
B
Thank
you,
madam
acting
chair
for
the
record
Russell
gandon
with
the
fiscal
analysis,
division,
legislative,
Council,
Bureau,
and
just
since
there's
no
perception
of
preference
I'm
just
going
to
call
on
the
role
that
are
listed
in
statute,
so
Wayne
Thorley,
here,
Sarah
Kaufman,.
C
B
C
B
B
Some
madama
chair
acting
chair,
let
the
record,
show
that
all
members
are
in
attendance
with
Andrew
Klinger
attending
virtually
through
the
zoom
link.
A
Thank
you,
Mr
gendon.
The
next
item
on
our
agenda
is
public
comment.
Public
testimony
under
agenda
under
this
agenda
item
can
be
made
either
in
person
by
phone
or
in
writing
because
of
time
constraints.
Each
person
offering
testimony
during
this
period
of
public
comment
will
be
limited
to
not
more
than
three
minutes.
There
are
instructions
on
the
agenda
for
calling
in
as
well
as
emailing
written
testimony.
So
with
that
is
there
any
public
comment
in
Carson
City.
A
E
All
right,
thank
you,
I
believe.
The
the
next
item
that
we
have
is
the
election
of
a
vice
chair.
Is
there
someone
that
would
like
to
make
a
motion
to
elect
a
vice
chair.
D
E
C
E
A
E
Okay
motion
from
Miss
Kaufman
from
Miss
Walker,
a
new
discussion.
D
E
Any
opposed
motion
passes
next
up
on
the
agenda.
We
have
the
review
and
approval
of
Revenue
forecasts
for
selected
general
fund
sources,
including
taxes,
licenses
fees,
fines
and
other
revenue
for
presentation
to
the
economic
Forum
at
the
economic
forums,
November
14
2022
meeting
and
Mr
ginden,
if
you
like,
and
with
the
the
pleasure
of
the
committee.
If
we
want
to
take
agenda
items
five
and
six
together,
maybe
just
hear
all
of
the
numbers
at
first
and
then
go
forward
with
motions
as
appropriate.
B
Thank
you,
chair
Smith,
and
we
will
do
that
then,
in
terms
of
going
through
the
information
that
would
be
under
agenda
item
five
and
then
after
addressing
that
in
questions
we'll
just
we
can
move
on
to
agenda
item
six,
which
is
the
tax
credits
before
doing
that.
Mr
chair
I
just
want
to
put
one
piece
of
information
on
the
record,
which
is
the
meeting
materials
for
this
meeting.
B
If
you're
going
to
Nellis,
which
is
the
legislature's
website
for
the
information,
this
meeting
is
listed
there
and
you
can
view
click
and
view
the
meeting
but
be
able
to
get
the
supporting
materials
that
you've
been
made
available
to
you
here
and
also
are
available
for
the
public
online,
but
also
anybody
that's
listening
and
wants
copies,
that
they
can
contact
the
gfo
or
office
and
they
can
get
copies
of
the
material.
But
the
the
link
is
actually
on
gfo's
website
and
sorry
gfo.
B
The
governor's
finance
office
and
I'll
keep
saying
gfo
and
if
I
say
fiscal
I
mean
the
fiscal
analysis.
Division.
Just
try
and
I'll
put
that
up
front
because
the
Staffing
of
this
body,
as
well
as
economic
forum,
is
jointly
shared
by
Statute
by
staff,
from
the
governor's
finance
office
and
staff
from
the
fiscal
analysis
Division,
and
so
because
of
that
sharing
the
gfo
is
more
principally
more
responsible
for
the
attack
and
the
fiscal
division
is
principally
more
responsible
for
the
Forum.
G
B
Thank
you,
Mr
chair.
What
you
should
have
is
three
documents
available
to
you
this
afternoon,
and
so
the
first
one
is
table
one,
and
so
that's
just
for
your
benefit
that
it
shows
you
all
of
the
general
fund,
Revenue
sources.
B
But
the
technical
advisory
committee
is
only
responsible
for
what
we
call
the
minor
general
fund,
Revenue
sources,
and
so
that
shows
you
the
last
three
years
of
actual
collections
and
then
it
shows
you,
the
year-to-date
collections
for
FY
2022,
the
preceding
fiscal
year
and
then
the
year
to
date
for
the
current
fiscal
year,
FY
2023,
and
so
it's
important
to
keep
in
mind
when
you're.
B
Looking
at
the
year-to-date
stuff
that
for
some
of
these
Revenue
sources,
they
have
a
well-defined
date
in
which
the
taxes
or
fee
is
due,
and
then
it's
required
to
be
reported
to
the
agency
that
administers
that.
And
then
it's
actually
reported
in
the
controller's
office,
other
ones
that
are
dependent
upon
when
the
person
may
pay
it
to
the
agency.
And
then
it
gets
posted
in
the
system.
B
Three,
which
is
the
agency
fiscal
budget
table,
is
what
we
call
it,
and
so
what
it
does
is
it
shows
you
the
forecast
for
each
of
the
three
fiscal
years
that
are
in
consideration
here
for
the
for
this
forecast
cycle,
which
is
FY
23
as
the
current
fiscal
year
or
what
we
sort
of
call
the
base
year
or
current
year
forecast
and
then
the
first
year
ahead,
forecast,
fy24
and
the
second
year
had
forecast
fy25,
thus
for
the
the
next
biennium,
the
The
23-25
biennium.
B
And
so
what
you
see
here
is
the
forecast
presented
for
each
fiscal
year
for
by
the
agency,
and
that
is
the
forecast
that
was
provided
to
staff
from
gfo
and
fiscal
and
I'll
go
into
the
process
after
I
go
to
the
tables
of
the
same.
But
that
is
the
agency
responsible
for
administering
that
Revenue
source.
And
then
you
have
fiscal,
the
fiscal
analysis,
divisions
forecast
for
that
Revenue
source
and
then
budget
or
this
would
be
gfos
forecast.
B
B
What
gfo
and
fiscal
have
historically
done
and
continue
that
for
this
forecast
cycle,
which
is
for
each
one
of
the
general
fund,
Revenue
sources,
all
of
them,
but
for
the
minor
ones
that
the
TAC
is
considering
this
afternoon,
we
ask
each
of
the
agencies
for
their
forecast
for
each
of
those
three
years
and
then,
when
that's
submitted
to
us,
gfo
and
fiscal
have
a
chance
to
look
at
that
and
interact
with
each
agency
that,
if
we
think
there's
questions
about
to
make
sure
we
understand
it
because
some
of
them
right
there
could
be
on
a
law
change
from
the
prior
session
or
if
we
see
something
going
on.
B
So
that's
that
we
interact
with
the
agency
to
get
a
comfort
level
with
understanding
their
forecast
in
terms
of
what
gfo
and
fiscal
may
be
thinking.
And
so
that's
what
you
see
in
Table
Three
is
that
process
and
so
in
the
the
tact
table
we
take
gfo
and
physical,
get
together
and
decide.
What
we
think
is
where
the
comfort
is
to
bring
forward
for
this
body's
consideration
as
gfo
and
fiscal's
consensus
to
present
to
this
body
and
for
your
deliberation
and
consideration,
and
so
that
is
the
information
that's
available.
B
If
there's
no
questions
on
the
process
or
the
tables
Mr
chair
I
can
just
then
proceed
into
and
I
don't
plan
on
going
through
every
Revenue
source
of
those
of
you've
been
through
this
process.
We
just
mainly
try
and
go
through
the
ones
that
we
think
additional
information
should
be
provided
to
the
technical
advisory
committee
members
for
their
consideration
on
that
Revenue
source.
B
Okay,
thank
you
very
much
Mr
chair.
So
this
is
one
of
those
times
where
you
know,
if
you
can
sort
of
lay
the
table
side
by
side
or
depending
on
your
orientation
above
each
other,
so
that
you
can
sometimes
look
across
and
see
the
agency
fiscal
budget
and
then
look
at
the
tag
table
and
I
realize
it's
hard
for
you,
but
I
I
will
as
I
go
through
them
in.
B
So
you
can
see
the
first
one
at
the
top
of
the
table
is
the
net
proceeds
of
minerals
and
the
mining
gross
revenue
tax
on
gold
and
silver,
and
so
for
those
two.
You
can
see
there's
only
a
forecast
in
the
table
for
fy23,
so
I
need
to
get
right
out
of
the
gate
here,
which
is
based
on
ab495
from
the
2021
session.
B
This
was
the
bill
that
created
the
what
you
see
listed.
There
is
the
mining
gross
revenue,
tax,
gold
and
silver,
that
is
the
new
excise
tax.
That's
on
business
mining
operators
that
are
in
the
business
of
extracting
gold
and
silver,
and
so
then
they're
required
to
annually
file
a
return
for
the
preceding
calendar
year
and
pay
the
tax
on
the
gross
revenue
from
their
business
of
extracting
gold
and
silver.
The
taxes
set
up
so
the
first
20
million
of
that
calendar
year
period
is
exempt.
B
The
amount
over
20
million
to
up
to
150
million
is
taxed
at
0.75
percent
and
anything
over
150
million
is
taxed
at
1.1
percent.
So
just
to
give
you
that's
the
structure
of
the
tax
and
then
the
net
proceeds.
This
is
the
tax
that
some
of
you
have
familiar
familiarity
with
from
primary
meetings.
But
this
is
the
this
is
a
net
tax,
so
the
gold
and
silver
excise
tax,
as
we
call
it,
is
on
gross
revenue.
B
The
net
proceed:
the
minerals
taxes
on
the
net
proceeds,
so
it's
their
gross
proceeds
and
less
allowable
deductions,
and
then
it's
even
more
complicated
because
this,
the
portion
of
a
long
most
of
the
state
that
there's
a
calculation
that
takes
place
in
terms
of
what?
What
is
the
actual
tax
rate
that
they're
required
to
pay
on
their
growth,
proc
their
net
proceeds?
And
then
what
is
the
combined
property
tax
rate
in
the
tax
District
in
which
the
mine
is
located?
B
And
so,
if
the
actual
tax
rate
that
they
have
to
pay
is
higher
than
that
combined
property
tax
rate,
that
Delta
or
difference
is
the
state's
tax
rate
for
the
general
fund
portion.
So
that's
the
nature
of
the
tax,
and
so
you
can
see
in
the
table
there.
The
three
forecasts
for
FY
23
and
then
the
forecast
presented
to
you
is
the
average
of
the
three.
As
we
looked
at
them
and
so
the
that's
the
FY
23
forecast.
B
So
that's
and
thus
that's
no
longer
an
unrestricted
general
fund,
Revenue
source
which
by
Statute,
is
what
the
economic
forum
is
responsible
for
and
thus
attack
as
the
supporting
body
to
the
form
is
responsible
for
so
in
this
body,
and
the
form
no
longer
have
to
approve
a
forecast
for
the
net
proceeds
and
minerals
and
the
gold
and
silver
excise
tax
for
fy24
and
fy25.
And
so
that's
the
information
that
I
wanted
to
present
on
that
Revenue
Source,
Mr,
chair,
I,
didn't
know.
E
B
Okay,
that
works
well.
Thank
you.
So
then,
you
can
see
the
next
block
under
gaming
state
is
all
the
various
fees
or
devices
or
licensing
fees
that
gaming
operators
are
required
to
pay
to
The
Gaming
Control
Board
and
that
could
be
either
as
a
restricted
or
non-restricted,
Casino
or
gaming
operator,
as
well
as
manufacturers,
Distributors
thought,
Rod
operators,
and
so
we
have
Mike
Lawton
from
The
Gaming
Control
Board
is
actually
virtually
attending.
B
What's
going
on
and
he's
able
to
talk
to
Industry
and
see,
what's
going
on,
he
shares
that
information
with
staff
from
gfo
in
the
fiscal
analysis
division
so
that
we
can
have
the
same
information
set,
but
we
principally
he
prepares
his
forecast
and
then
we
look
through
them
based
on
the
information
he
provides
us,
and
so
the
forecast
you
see
here
for
each
of
these
Revenue
sources
is
The.
Gaming,
Control,
Board
forecast
prepared
by
Mike
Lawton,
and
so
the
only
observations
I
would
see.
Add
here
is
you
look
at
it?
B
Is
you
can
see
Advanced
license
fee,
which
is
GL?
3046
goes
up
to
about
7.8
million
dollars
and
24.
Otherwise,
it's
pretty
de
minimis,
and
so
the
advanced
license
fee
is
actually
a
statutory
requirement.
When
a
generally,
there
are
some
exceptions,
but
that
in
new
new
property
is
going
to
open,
then
they're
required
under
law
to
pay
three
times
their
liability
based
on
their
First
full
month
of
business,
and
so
the
the
Fontaine
Blue
is
a
new
property.
That's
back
under
construction
and
based
on
the
information
set
that
we
have.
B
The
expectation
is
they'll,
be
coming
on.
Sometime
like
a
year
from
now,
approximately
plus
or
minus,
and
so
thus
that
would
be
an
FY
24
that
they'll
be
opening
and
they'll
still
trigger
the
advanced
license
fee.
And
so
this
is
the
estimate
based
that
Mr
Lawton
prepared,
and
we
it's
hard
for
us.
It's
not
that
we
couldn't
do
an
estimate,
but
we
believe
this
is
a
reasonable
amount
that
he
has
put
in
here.
For
this
property.
B
You
can
understand
the
nature
of
trying
to
forecast
new
casinos
First
full
month
and
then
the
taxes
due
for
that
and
then
you'll
just
see
in
fy24
for
the
non-restricted
slots
in
the
quarterly
feeling
games
that
compared
to
like
the
flat
fees
on
restricted
slots
that
there's
a
little
bit
more
growth
in
FY,
24
comp.
And
then
it
falls
back
again
when
a
new
casino
opens
and
they
bring
on
their
slot
machines
and
their
table
games
the
there's
the
quarterly
license
fees.
B
So
it
can
get
tricky
when
but
when
they
bring
them
on
they're
required
to
pay
the
full
amount
due
for
that
month,
and
so,
if
it's
at
any
and
then
they
have
to
pay
again
at
the
end
of
the
quarter
for
those
fees.
So
in
a
sense
depending
on
when
they
open,
you
could
get
two
full
payments
on
those
devices
in
that
quarter,
which
then
can
even
those
new
devices
in
and
of
themselves
would
potent
have
the
potential
to
drive
that
fiscal
Year's
collections
up?
B
But
you
have
the
potential
to
get
the
the
additional
payment,
and
so
when,
when
we
saw
that
pattern
and
the
gcb's
forecast
that
made
sense
to
us,
knowing
that
we're
having
a
new
casino
opening,
and
so
with
that
that
that
was
the
information
that
I
thought
to
present
to
the
tech
for
these
Revenue
sources,
tied
to
fees
and
our
taxes
assessed
against
gaining
companies
that
are
administered
by
The,
Gaming,
Control
Board
us
then
so.
B
The
next
Revenue
Source
Mr
chairman
members
of
the
tech,
is
GL
3073
Transportation
connection
excise
tax
again
for
better
reference.
This
is
the
tax
that
was
passed
to
pick
up
Uber
and
lift
type
operations,
but
it's
not
just
applicable
to
Uber
and
Lyft.
B
It's
also
other
motor
carriers
or
passengers
such
as
taxi
cabs,
buses,
other
motor
carriers
of
passengers,
and
so
this
is
a
three
percent
tax
on
the
fare,
and
so
the
reason
why
you
see
the
pattern
of
28
million,
actual
36
million
33
million
39
million-
is
the
first
5
million
of
the
biennium
goes
to
the
highway
fund.
B
So
then
you
can
see,
then
the
even
numbered
years
will
be
5
million
less.
So
if
you
want
to
get
hey,
what
does
it
look
like?
Add
five
million
dollars
to
get
to
38
million
dollars
in
fy24,
and
thus
you
can
see
that
it's
growing
and
probably
one
of
the
things
that
it
should
put
on
here,
is
as
forecasters
that
is
in
our
minds
as
we're.
Looking
at
some
of
these
Revenue
sources
is
that
in
fy24
we
know
we'll
have
the
Formula
One
race
in
November
23.
B
we'll
also
have
the
Super
Bowl
in
February
24..
So
we,
the
the
expectation,
is
that
those
two
vents
are
going
to
bring
people
those
two.
Those
people
will
need
to
get
around,
so
they
probably
will
be
using
Uber
Lyft
and
as
we
get
down
the
short-term
car
rental
sort
of
the
same
Theory
or
logic
is
applying
in
terms
of
when
the
forecasters
were
thinking
about
these
Revenue
sources.
B
So
then,
with
the
cigarette
tax,
you
can
see
the
collections
for
the
first
two
months,
and
that
is
tax.
That
is
posted
monthly.
So
we
have
two
months
against
two
months.
It
is
down,
and
so
you
can
see
if
you
look
across
the
forecasters
there,
they
all
assume
that
there's
going
to
continue
to
be
degradation
in
this
Revenue
Source
sort
of
the
basis
is
that
right
that
smoke,
this
Revenue
Source,
except
for
tax
increases,
tends
to
go
down
because
of
the
Behavior
by
people
on
a
per
capita
basis.
B
The
smoking
is
going
down,
and
so
that's
we
think
when
we
took
this
forecast
is
the
consensus.
It
sort
of
moderates
a
little
the
growth
that
you
see
over
the
three
separate
forecasts
and
puts
it
like
we
call
sort
of
in
the
Goldilocks
place
of
the
forecast
so
and
so
Mr
chairman.
That
was
the
information
that
I
want
to
provide
present
on
the
revenues
on
the
first
page.
If
there's
no
questions,
I
can
proceed
to
the
next
page.
But
if
there
are
questions.
F
Thank
you,
Mr
ginnon,
for
those
explanations
that
was
very
good.
I
just
had
a
question
on
the
cigarette
tax,
because
in
the
past,
we've
had
a
higher
declines
than
what
we
have
projected,
and
that
makes
sense
about
what's
happening
in
23
and
24
with
the
additional
one
thing.
F
I
noticed,
though,
is
that
on
this
line
item
we
didn't
use
the
average
of
the
three
the
three
departments
and
I
was
which
would
have
made
it
I
think
lower
and
I
was
wondering
why
it
wasn't
an
average
of
the
three
and
just
seemed
it
just
seemed
seemed
low
to
me.
B
Thank
you,
that's
a
very
good
question,
Miss
Walker,
and
so
we
did
do
the
average
of
all
three,
and
so
we
look
at
sort
of
the
permutations
that
you
can
do,
and
so
we
we
thought
when
including
the
agency's
forecast,
but
you
can
see,
has
the
the
lower
or
the
bigger
declines
compared
to
the
others
and
looking
at
year-to-date
and
then,
when
you
applaud
it
and
look
at
how
it
is
gfo
and
fiscal
felt
more
comfortable
with
taking
the
agency
out
of
the
averaging
just
averaging
fiscal
budget.
B
Clearly,
that's
not
to
imply
that
the
agency's
forecast
doesn't
have
it
more
or
less
validity
than
the
others.
Just
when
we
were
looking
at
the
different
averages
and
and
what
they
look
like.
There
was
more
comfortable
by
gfo
and
fiscal
to
bring
forward
what
you
see
in
the
table.
For
you,
it
is
one
of
the
things
that
will
you
know
as
a
forecaster
we'll
get
one
more
month
of
actual
each
forecaster
has
a
chance
to
do
forecast.
B
D
This
might
be
a
question
better
asked
or
answered
by
Mr
Lawton
and
Mr
gendon,
but
I'm,
looking
at
the
FY
22
actuals
for
advanced
license
fees
and
it's
more
than
double
what
the
highest
forecast
that
we
have
in
FY.
24.
I
was
just
curious.
What
properties
came
online
that
year
that
maybe
drove
that
up.
B
H
The
advanced
license,
fees
that
we
had
in
FY
22
or
is
were
the
result
of
Resorts
World,
opening
the
other
contributing
factor
to
that
16
million
dollars
in
collections
were
the
the
Venetian
that
transaction
the
Sands
sold
the
Venetian
to
Apollo,
and
that
resulted
in
a
substantial
increase
in
collections
in
the
advanced
fees.
Obviously,
these
types
of
transactions
are
very
difficult
to
forecast.
H
E
I
I
just
had
one
question
before
we
go
on
it's
sort
of
a
broader
question,
but
just
as
we're
thinking
about
the
the
upcoming
biennium.
Obviously
the
the
economy
is
in
kind
of
a
an
interesting
place.
Right
now
and
I
would
be
curious
to
to
know
as
we
go
on
what,
if
any
sorts
of
business
cycle
impacts
are
affecting
the
projections
in
any
of
these
specific
Revenue
amounts.
E
Now
so
I
don't
know
that
that's
a
maybe
if
you
could
address
what's
on
page
one
there
and
then,
as
it
comes
up
on
future
Pages.
If
there's
any
implications.
B
I
can
specifically
talk
for
the
staff
in
the
fiscal
analysis
division,
but
and
then,
if
you
want,
we
can
have
representatives
from
the
Department
of
Taxation
and
Under
The,
Gaming,
Control,
Board
and
gfo
come
up,
but
I
think
as
we've
been
interacting
as
staff
that
maybe
I'll
I'll
answer
your
question
this
way,
and
then
you
can
tell
me
if
I've
all
I've
done
is
danced
around
your
question
or
not
that
I,
don't
think
any
of
us
are
explicitly
have
in
our
minds
when
we're
forecasting
for
any
of
these
Revenue
sources
or
as
we'll
be
working
on
the
majors,
that
the
that
a
recession
will
be
occurring
over
the
forecast
period.
B
We
all
know
that
the
probability
of
such
events
is
getting
more
and
more
statistically
greater
than
zero,
with
as
the
Federal
Reserve
attempting
to
engineer
the
so-called
soft
Landing,
with
the
interest
rate,
adjustments
that
they're
doing
to
try
and
bring
inflation
back
under
control,
but
none
I,
don't
think
any
of
us
are
explicitly
putting
that
there'll
be
a
downturn
in
employment
and
thus
we
may
have
unemployment
going
back
up
or
that
the
visitors
will
really
retract.
B
So
that's
I
think
the
general
answer
for
us
forecasters
is
that
we're
not
explicitly
putting
a
turning
point
in
the
forecast
due
to
either
any
kind
of
recession
scenario.
Could
such
an
event
occur?
Yes
and
like
we're?
A
lot
of
us
here
are
economists,
so
we
watch
the
news
daily
as
to
what
the
FED
is
doing
and
what's
what's
going
on,
and
so
maybe
that
there
may
be
a
different
answer
to
that
question
at
at
the
late
November
meeting
Mr
chair,
but
right
now,
that's
the
answer
to
your
question.
E
G
E
You
they
can
go
on
to
page
two.
B
Yes,
Mr
chair,
and
actually
you
can
just
skip
page
two,
because
that's
the
page
for
the
modified
business
tax
and
so
because
of
the
three
pieces
of
the
modified
business
tax
and
all
the
various
tax
credit
programs.
It
takes
a
whole
page
to
be
able
to
list
the
modified
business
tax,
but
that
Revenue
source
is
actually
handled
by
the
economic
Forum
at
and
thus
you'll
get
to
see
the
preliminary
forecast
for
that
Revenue
Source
at
their
meeting
on
November
14th.
B
So
on
the
third
page,
both
table
three
and
the
tag
table
and
again
you
see
the
top
block.
Is
the
insurance
premium
tax
as
a
major,
so
really
I?
B
Think
the
the
only
Revenue
Source
here
Mr
chairman
and
members
of
the
attack
that
you
know
or
or
the
few
that
I
wanted
to
address-
was
the
governmental
Services
tax
that
you
see
the
forecast
there
and
when
you
looked
at
the
forecast
for
each
forecaster,
they're,
all
sort
of
in
that
range,
except
for
the
budget
forecast,
and
so
that
was
excluded
in
the
forecast,
we're
up
about
2.4
percent
and
again.
This
is
another
Revenue
source
that
it
is
a
pretty
good.
B
B
It's
based
on
the
value
of
your
the
manufacturer's
suggested
retail
price
of
your
vehicle
when
it's
first
available
for
sale
in
the
state
of
Nevada
times
35
percent,
and
then
it's
run
through
a
depreciation
schedule
based
on
the
age
of
the
vehicle,
and
then
it's
the
it's
four
percent
of
that
amount
in
15
counties,
Churchill
and
Clark
I
have
additional
one
percent,
but
the
important
thing
here
for
this
portion
that
you're
looking
at
it's
10
of
that
msrpe
times,
35
percent.
B
That
is
the
value
to
which
we
then
attribute
10
percent
of
that
on
the
four
percent
rate.
So
and
that's
a
distinction
worth
making,
because
so
for
a
new
vehicle
when
it's
first
sold
and
registered
this,
this
state
portion
generates
new
Revenue
it's
when
the
vehicles
registered
for
the
second
time
that
it
will
generate
revenue
for
the
state
portion
and
then
clearly,
cars
coming
into
the
state
from
out
of
state
and
being
registered
they'll
generate
Revenue.
B
So
I
just
wanted
to
point
that
out,
because
when
you
think
about
all
the
anybody
that
follows,
the
taxable
sales
for
Autos
reported
by
taxation
can
see
during
the
pandemic
and
the
Heart
of
the
pandemic
and
coming
out
of
it.
The
taxable
sales
were
very
strong
and
you
go
wow.
That's
really
going
to
help
the
GST
it
does
just
new
cars
don't
help
the
state's
portion
until
they
get
re-registered.
B
So
it's
just
an
important
thing
so
as
forecasters,
we
have
to
think
through
that
Dynamic
of
not
reacting
to
what
we
see
here,
but
thinking
a
year
later,
as
well
as
in
migration
and
out
migration
of
vehicles
that
generate
the
sticks.
So
and
then
the
other
important
element
to
point
out
here
is
that
this
under
the
statute,
25
percent
of
the
state's
portion
goes
to
State
Highway
fund.
Excuse
me
to
the
state.
General
fund
75
goes
to
the
state
highway
fund.
B
So
what
you
see
here
is
25,
and
thus
it's
the
the
22
actual
that
you're
looking
at
the
26.4
million.
That
was
also
25.
So,
just
to
let
you
know
when
you're
looking
across
it,
you
do
have
more
of
an
Apple's
apples,
comparison
for
those
that
have
been
through
this
process.
This
is
a
revenue
source
that
would
get
allocated
and
reallocated
between
high
five
and
general
fund.
B
So
sometimes
it
made
looking
at
the
history
compared
to
the
forecast,
a
more
difficult
exercise
here,
it's
becoming
less
difficult,
it's
the
25
percent,
and
so
with
that
Mr
chairman,
that
that's
really
when
I
looked
at
these
Revenue
sources,
because
with
the
liquor
tax
ootp,
which
are
two
of
the
larger
ones
that
you
see
there
in
the
business
license
fee
again
we're
not
driving
a
recession
scenario
through
any
of
the
revenue
sources
you
can
see.
The
business
license
fee
is
expected
to
be
relatively
flat.
B
Looking
at
the
what
was
going
on
in
FYE,
22
and
in
the
early
part
of
FY
23.
Here
we
think
that's
reasonable
to
be
somewhat
flat
and
because
and
what
we
have
to
keep
in
mind
for
this
business
license
fee,
it's
500
for
a
corporation
and
so
and
it's
200
for
non-corps.
B
And
so,
when
you
look
at
the
data,
there's
been
a
little
bit
of
degradation
in
the
corporation
area.
So
if
you
think
about
it,
for
if
you
lose
a
corporation,
you
need
two
and
a
half
non-corps
to
be
standing
in
place.
Revenue
wise.
So
then,
when
we
looked
at
what
was
going
on
in
the
secretary
of
state
is
able
to
provide
information
on
the
filings,
both
renewals
as
well
as
new
filings,
and
so
looking
at
that
and
looking
at
what
the
Secretary
of
State
thought.
B
We
thought
that
the
forecast
that
we
have
in
here
and
again
it's
the
average
of
the
agency
and
the
fiscals.
We
took
the
budget
forecasts
out,
given
the
growth
that
we
saw
in
that
compared
to
what
we
were
seeing
here
today,
but
again
as
they'll
be
Revisited
and
brought
back
at
the
next
meeting,
and
so
with
the
because
you
can
see
the
tax
credits
are
all
compiled
at
the
bottom,
but
we'll
save
that
for
the
agenda
item
six
after
we're
done.
B
G
F
B
So
flipping
to
the
next
page,
which
starts
with
licenses
at
the
top,
so
you
see
the
two
blocks
of
revenues
here
and
so
on
this
one.
There
wasn't
a
lot
here
that
jumped
out
this
as
staff.
Most
of
the
the
revenue
sources
are
the
average
of
all
three
forecasters,
except
for
insurance
licenses
where
we
excluded
the
budget.
B
When
you
look
at
it,
we
just
thought
that
was
a
little
too
strong
of
growth,
and
actually
this
is
a
series
that
year
in
and
year
out
generally
keeps
going
up
but
year-to-date
through
the
first
three
months,
it's
actually
tracking
slightly
below
last
year,
and
so,
but
we
think
it's
going
to
you
know
probably
come
back
a
little
bit
because
it
just
it's
a
series
that
we
have
several
years
worth
of
history
that
we
chart
and
you
look
at
it
and
it
just
looks
like
a
ladder
that
the
years
keep
going
out,
but
this
year
it's
it's
tracking,
much
closer
and
slightly
below.
B
So.
Thus
that
was
the
reason
for
when
we
looked
at
budgets
that
we
decide
when
we
looked
at
the
average
off
all
three,
we
thought
it
was
just
maybe
a
little
too
optimistic,
given
the
information
set
that
we
have
available
to
to
us
at
this
point
in
time.
Additionally,
on
the
the
UCC
fees,
the
budgets
forecast
was
excluded
there
when
we're
looking
at
where
we
are
year.
To
date,
it's
up
some,
and
so
we,
when
we
looked
at
the
average
L3,
we
thought
that
was
pulling
down.
B
That's
the
the
scenario
that
we
were
comfortable
with
when
budget
and
fiscal
got
together
and
talked
to
this
again,
every
one
of
these
forecasts
probably
has
an
equal
chance
of
being
right,
but
just
the
staff
we
try
and
get
to
what
we
think
we're
comfortable,
bringing
forward
for
this
body's
consideration
and
then
for
the
video
service
franchise
fee
there.
It's
it's
the
average
of
agency
and
fiscal,
but
it
could
pick
agency
fiscal
they're
the
same,
and
this
is
just
we
got
300.
The
expectation
is
we'll
get
300.
B
Probably
going
forward
is
not
too
much
money
that
comes
in
on
this,
and
we
also
try
not
to
spend
more
than
what
we're
forecasting
as
in
wages
when
we're
forecasting
some
for
so
for
three
hundred
dollars.
I,
don't
think
it
will
get
beat
up
too
badly.
B
Whatever
we
put
on
the
sheets,
and
so
then
the
athletic
commission
fee
is
just
one
of
the
larger
ones.
On
this
side
after
the
Secretary
of
State
fees
and
there
that's
the
average
of
all
the
of
all
three.
The
staff
from
the
athletic
commission
provides
us
their
forecast
as
well
as
information
that
they
think
this
is
principally
driven
by
UFC
events.
B
So
it's
unarmed,
combat
and
so
the
the
again
this
is
that
there's
an
April,
primarily
it's
from
the
eight
percent
tax,
that's
on
the
receipts,
the
gross
receipts
from
admissions
fees
to
the
event
and
then
of
that
six
percent.
It
comes
to
this
Revenue
source
for
deposit
in
the
state
general
fund.
B
Two
percent
is
retained
by
the
agency
in
their
budget,
and
so
with
that
that
was
that
block,
and
so
given
the
church,
Direction
I'll
just
move
on
to
the
next
block
and
then,
when
I'm
done
with
that,
we
can
see
if
there's
questions
on
the
page
again,
you
look
at
those
those
there's.
A
real
estate
license
fees,
all
those
are
the
average
of
all
three
forecasters
and
for
the
divorce
fees
we
took
the
agency's
forecast
out.
B
It
just
seemed
like
it
was
a
little
too
low
and
again
not
that
it
couldn't
occur,
but
it
just
seemed
the
average
did
not
leave
us
comfortable
by
leaving
it
in
and
then
the
short-term
car
lease
fee.
B
This
one
I
just
wanted
to
pause
on
for
a
second,
as
I'd
already
stated
right,
the
the
sort
of
the
the
the
story
that
we're
trying
to
drive
through
it
with
this
two
big
special
events
going
to
occur
in
FY,
24,
but-
and
so
this
is,
the
state
portion-
is
10
percent
and
Clark
and
wash
you
actually
have
an
additional
two
percent,
but
that
doesn't
belong
to
the
state.
B
It
belongs
to
specific
dedicated
purposes
in
Clark
and
Washoe,
but
what's
probably
more
important
worth
pointing
out
here
is
that
in
the
2021
session,
SB
389
was
passed
and
some
people
refer
to
it
as
the
turo
bill,
and
so
it's
actually
called
the
peer-to-peer
sharing,
and
so
what
this
is
it.
It
really
does.
Turo
is
one
of
the
taxpayers
in
this
new
tax
and
so
I.
Don't
know
if
you're
familiar
with
turo,
it's
like
Airbnb
for
cars
about
the
best
way.
B
I
could
say
it
so
people,
private
sector
people
can
rent
their
vehicles
to
other
people,
and
so
the
decision
was
made
by
Senator
Neil
to
bring
forward
this
bill
to
require
the
peer-to-peer
that
they
don't
have
to
be
recognized
as
short-term
car,
rental
companies
and
thus
they're
like
herds
and
all
those
be
registered
with
DMV
and
subject
to
those
rentals,
but
that
the
in
a
sense
the
person
who's
providing
the
platform
to
allow
people
to
rent
their
car
has
to
now
collect
the
short-term
car
rental
tax.
B
So
a
person
renting
their
car
in
every
County
but
Clark
of
Washoe
has
is
required
to
collect
the
10
tax
on
those
rentals
and
remit
it
to
the
Department
of
Taxation
and
Clark
and
wash
show
the
additional
two
percent
attaches
there.
Also
and
so,
and
the
intent
was
there
to
try
and
create
some
equality
with
regards
to
people
who
are
conducting
very
similar
situated.
Businesses
are
taxed
the
same,
and
so
that's
I
just
and
so.
B
Thus
the
amount
of
that
is
included
in
here
because
it's
it
in
is
somewhat
treated
as
a
separate
tax
by
the
Department
of
Taxation
and
statutorily,
but
it's
the
same
as
the
short-term
car
rental
tax,
but
what
we
would
run
into
is
we
can't
break
it
out
and
I
can't
really.
You
can
ask
me,
but
I
can't
tell
you
how
much
it
is
because
we
would
run
into
disclosure
problems
here
as
fiscal
staff.
B
We
know
what
that
number
is
because
we're
allowed
to
get
it
as
staff,
but
we're
required
to
keep
it
confidential,
and
so
that's
what
we
just
want
to.
Let
you
know
that
we
are
taking
account
of
the
impact
of
that
bill
and
and
including
it
in
the
short-term
car
rental
tax,
but
we
can't
disclose
those
amounts
to
this
body
or
anybody
publicly,
because
we
would
be
putting
taxation
in
Jeopardy
of
reporting
statistics
that
they're
not
allowed
to,
and
then
we
would
be
violating
our
confidentiality
understanding
with
the
Department
of
Taxation.
B
So
I
just
wanted
to
get
that
out
there
that
that's
in
there.
So
if
anybody
goes
and
looks
at
it
compared
to
like
the
recent
history,
you
might
go
wow
you
guys
are
really
assuming
short-term
car
rental
is
coming
up
and
that
might
be
counterintuitive
given
Uber
and
Lyft
is
probably
more
people
are
migrating
to
that.
B
Maybe
well,
and
so
it's
a
degradation
to
short-term
car
rental
business,
perhaps,
but
now
that
we're
picking
up
peer-to-peer
and
so
peer-to-peer
is
it
sits
somewhere
in
between
to
me
as
I,
try
and
think
about
as
an
economist
somewhere
between
Uber
and
Lyft
and
Hertz
right
in
terms
of
it's,
it's
you're
not
somebody's,
not
driving
you
around
in
their
car
you're
driving
yourself
around
in
their
car,
but
you're
getting
it
online
in
terms
of
arranging
it
and
so
I
just
want
that's
what
I
wanted
to
go
to
for
that
Revenue
source
and
with
that
Mr
chair
I
can
answer
any
questions
that
the
members
might
have
on
this
page.
F
I'm,
sorry,
you
guys
know
these
State
revenues
a
lot
better
than
I
do
going
back
to
your
discussion
as
far
as
the
what
we
have
actual
to
date.
So
far
this
fiscal
year.
There
are
a
couple
of
line
items
in
here.
That
I
was
wondering
what
the
difference
between
that
the
first
couple
of
months
versus
what
we're
projecting
like,
for
example,
under
securities,
so
far
we're
up
by
3.4
percent
this
first
couple
of
months.
But
yet
we
see
a
decrease
of
3.2
percent.
B
And
that's
what
you
don't
have
available
to
you
and
and
that's
a
good
point
and
possibly
for
the
next
meeting.
We
consider
that
it's
reported
monthly
by
the
Secretary
of
State,
but
it
can
have
variance
to
what
occurs
in
each
that
each
12
month.
So
yes,
we're
up
year
to
date
through
I.
Believe
it's
the
first
three
months.
But
when
you
look
at
the
last
nine
months
of
last
year
and
what
we'd
have
to
do
to
keep
say
growing
at
this
level,
we
couldn't
get
comfortable
there.
B
So
we'll
have
two
to
four
months
when
we
possibly
come
back
here
next
time
for
some
of
the
revenue
sources.
Well
then,
what
was
the
last
eight
months
compared
to
the
priority
months,
just
to
give
you
I
think
what
you're
asking
is
you're
you're,
seeing
what
we're
up
here
to
date,
you're
not
getting
to
see
what
the
last
part
of
last
year
was
up
against
the
last
part
of
the
year
before
that,
and
that's
a
good
point.
F
That's
a
good
point.
Thank
you.
The
other
one
was
the
athletic
commission
fees.
We
are
down
by
12
percent
year
to
date,
but
yet
we
only
have
a
3.3
percent
decline.
B
Another
good
observation
and
that
one
is
clearly
being
driven
by
and
we
don't
have
the
list
of
all
the
events
we
occur,
but
we
do
Google.
That's
the
new
researcher
Tool
that
you
could
have
a
UFC
fight
in
july
of
last
year
and
you
didn't
have
a
USC
fight
in
July
or
August
or
this
year,
and
that's
so.
Thus
this
is
one
of
those
Revenue
sources.
B
We
rarely
read
too
much
into
the
year
today,
because
it's
so
it's
it's
not
like
normal
month,
daily
monthly
economic
activity,
that
people
doing
things
and
doing
things.
It's
it's
much
like
Miss
Walker.
We
have
to
go
to
like
on
the
live
entertainment
tax
as
a
major,
it's
much
more
driven
by
hey.
Did
you
have
a
concert
this
year
or
a
big
event
this
year
versus
last
year,
so
the
year-to-date
stuff
tell
you
getting
that
10th,
11th
and
12th
month.
B
E
B
With
that
Mr
chair,
I'll
turn
to
the
last
page,
and
so
the
the
top
block,
their
use
of
money
and
property
and
sorry
I,
just
looked
down
and
read
that
that's
been
there
since
1994..
So
don't
ask
so
don't
ask
me
why
it's
called
that,
but
it
is
so.
B
The
appropriation
is
required
to
be
paid
back
to
the
general
fund
and
generally
those
repayment
Provisions,
just
like
a
loan
they're
put
in
law,
and
that
and
oh
you
pay
it
one
quarter
of
it
until
it's
paid
off,
and
so
with
these
we
work
with
the
agency
as
well
as
checking
stuff.
The
program
analysts
that
have
those
accounts
in
gfo
and
the
fiscal,
and
so
these
are
the
amounts
that
set.
So
it's
one
of
the
easier
forecasts
for
us
to
do,
because
there's
really
no
forecasting.
B
The
the
only
thing
that
we
note
is
that
you
know,
depending
on
how
they're
structured
it
can
be
this
amount
and
so
there's
a
million
dollar
appropriation
and
but
they
only
spend
800
000
of
the
million
and
so
for
some
of
the
older
programs
that
would
affect.
But
generally
it's
we
try
and
see
what
was
the
actual
cost.
B
B
You
can
see
that
they're
all
44
8,
that's
the
GL,
but
each
has
several
of
them
and
you
can
see
beginning
in
FY,
2004,
there's
the
four
four
six
one,
two,
five,
four,
three,
nine
one,
two
four,
that's
a
new
one
based
on
well,
that
was
a
general
fund
loan
that
was
granted
to
a
project.
Then
the
repayments
be
are
required
to
begin
in
FY
2024.
So
that's
why
you
see
that
getting
added
to
the
sheet
there.
B
So
then,
with
regards
to
interest
income,
GL
3290,
that
you
see
there,
the
the
numbers
in
that
forecast-
and
you
can
see,
there's
those
that
have
familiarity
with
this
Revenue
Source
or
if
you
go,
look
at
table
three
or
excuse
me
the
table
one.
You
can
see
more
of
the
history
that
the
forecasts
are
somewhat
higher
than
what
we've
traditionally
seen,
and
so
we
have
staff
from
the
treasurer's
office
available
in
the
zoo
meeting.
B
If
there
are
questions
or
if
they
feel
they
want
to
go
through
it,
I
will
go
through
it
from
staff
from
gfo
and
fiscals
perspective
to
explain
what
the
process
was
and
the
information
that
was
being
considered
and
then
how
we
got
to
the
forecast
that
you
see
here.
So
as
I
explained
at
the
beginning,
we
we
asked
the
treasurers
for
an
interest
forecast,
and
so
they
provided
us
a
preliminary
forecast
so
that
gfo
and
fiscal
staff
could
consider
that.
B
And
then
we
had
a
meeting
with
them
to
discuss
it
and
just
discuss
the
parameters
that
were
in
play
for
interest
because
I'll
be
honest
with
you.
Gfo
and
fiscal
have
historically
deferred
to
the
treasurer's
office,
because
this
is
a
difficult,
they're,
all
sort
of
difficult.
But
this
one
is
especially
difficult.
But
the
treasurer
is
the
Constitutional
officer
responsible
for
managing
and
investing
the
state's
funds
to
earn
interest
on
them.
B
And
so
you
can
see
here
that
we're
having
the
forecast,
FY,
23
and
24
and
25.,
but
they
don't
even
have
a
forecast
for
the
general
fund
for
23
and
24
and
25..
So
you
so
implicitly
as
forecasters
we're
having
to
think
about
that.
But
at
least
at
the
November
14th
meeting
they'll
be
preliminary
forecast
presented
for
the
majors
and
then
as
both
staff
from
the
treasurer's
office,
as
well
as
Steph
from
Geno
and
fiscal.
B
We'll
start
to
have
some
idea
what
maybe
the
general
fund
may
look
like
for
23,
24
and
25.,
and
so
thus
I
just
wanted
to
get
that
out
in
the
front
that
this
is
the
preliminary
forecast
and
as
we'll
look
at
information,
there
may
be
a
different
forecast
or
not
brought
back
to
this
body
for
the
next
meeting.
B
And
what
I
would
point
out
is
that
the
the
things
that
the
treasures
office
staff,
as
well
as
gf1
fiscal,
had
to
take
into
consideration
and
discuss
the
to
see
that
we
had
the
same
understanding
is
clearly
the
most
obvious.
One
is
the
interest
rate
scenario:
we
have
the
Federal
Reserve,
significantly
raising
rates.
What's
that
doing
that's
raising
short-term
rates?
Well,
the
treasure
has
to
maintain
a
certain
amount
of
liquidity
in
their
Investment
Portfolio,
because
right
this
is
ju.
This
is
money
coming
into
all
the
different
funds,
not
just
the
general
fund.
B
There's
the
highway
fund
there's
other
funds,
but
there's
also
checks
being
written
against
those
funds
right
so
they're
trying
to
look
at
what's
coming
in
as
the
the
the
amount
that
they
can
going
fast,
both
short
term
or
maybe
more
than
a
little
longer
term,
but
with
the
feds
raising
the
short-term
interest
rate,
then
clearly
that
part
of
the
yield
curve
is
Shifting
up
as
well
as
the
intermediate.
B
The
longer
rates
are
shifting
up
somewhat
also,
so
that's
one
of
the
big
factors
that
what
what
you
can
potentially
earn
now
for
a
dollar
invested
versus
what
we
could
earn
prior
to
the
FED.
B
Taking
the
actions
that
it
was
and
with
to
try
and
check
inflation
on
the
other
side
of
the
mathematics
is,
is
that
we
have
things
on
the
funds
that
are
available
to
be
invested
in
earned
interest
such
as
we
have
the
American
Recovery
plan
act,
arpa
funds
that
the
federal
stimulus
funds,
and
so
those
have
been
provided
to
the
state
and
as
the
state
is
getting
those
allocated
and
spent,
but
they're
able
to
sit
there
and
under
the
guidance
by
the
U.S
treasury
and
federal
law.
B
The
interest
that's
earned
on
that
is
deposited
in
this
GL
and
also
you
probably
heard
at
the
October
meeting
of
the
economic
Forum,
that
the
actual
collections
for
FY
2022
were
a
billion
dollars
over
the
forecast.
So,
if
you
think
about
that,
that
is
money
that
really
doesn't
have
an
appropriation
tied
to
it,
because
the
budget
was
built
on
the
4.5
billion
dollar,
Revenue
estimate
and
we
collected
5.5,
and
so
the
Appropriations
were
down
there
for
FY
23,
the
general
funds
forecasts
from
May
21
was
four
point:
7
billion.
B
Well,
if
we
were
at
5.5,
we'd
have
to
have
quite
a
bit
of
degradation
to
get
back
to
four
seven,
so
I
think
right.
We're
going
to
continue
to
see
actuals
come
in.
So
that's
additional
money,
that's
in
play
for
the
treasure
and
and
as
the
forecasters
to
be
thinking
about
and
this
forecasting
exercise,
and
so
clearly
it
can
have
an
impact
on
FY
2022.
It's
all
that
should
be
beneficial
to
FY
2023
and
even
some
of
the
this,
this
actual
over
the
forecast
or
over
budget
amounts.
B
It
will
get
transferred
to
the
rainy
day
fund,
either
through
the
statutory
Provisions
requiring
one
percent
of
the
economic
foreign
to
be
transferred
or
forty
percent.
Anything
over
a
seven
percent
ending
fund
balance
has
to
be
transferred.
So
clearly,
the
governor
can
recommend,
and
the
legislature
improves
some
of
this
money
could
be
allocated
during
the
23
session
to
be
allocated
in
23,
but
24,
and
so
the
expectation
would
be.
Is
that
some
of
this
excess
that
we
were
talking
about
now
will
be
spent
down
over
the
next
biennium.
B
The
arpa
money
will
be
spent
down
over
the
next
biennium
compared
to
the
levels
that
we
have
now
so
as
staff
from
gfo
and
fiscal
and
the
treasurer's
office
were
have
been
interacting
over
this
week
on
those
elements
in
working
through
it.
Out
of
that,
all
that
information
and
what
I
presented
to
you
is
the
the
forecast
that
the
treasurer's
office
provided
to
us
and
gfo
and
fiscal
looking
at
it.
B
Giving
the
information
set
that's
available
to
all
of
us
and
again
saying
that
we're
still
sort
of
guessing
at
what
the
general
fund
could
be
for
over
the
next
biennium
gfo
and
fiscal
were
comfortable
bringing
forward.
This
is
the
consensus
as
the
treasurer's
preliminary
forecast
here
and
because
it
it
sort
of,
has
the
pattern
that
gets
gfo
and
fiscal
we're
thinking
about,
and
especially
as
we
were
interacting
And
discussing
with
the
treasure
staff.
B
This
information
set
and
and
thinking
about
the
higher,
because
also
right,
the
feds
are
probably
going
to
start
backing
off
interest
rates.
We
hope
as
if
they
can
get
inflation
occurred.
So
you
so
that's.
What
you
have
here
is
interest
rates
higher
the
amount
of
money
that
you
have
higher
and
that's
going
to
benefit
23
probably
benefit
into
FY
24,
but
if
they
start
to
bring
rates
down
and
then
we're
spending
the
harpa
money
and
we're
spending
some
of
the
excess,
then
you
should
see
25
coming
back
down
compared
to
24..
B
And
so,
when
we
looked
at
this,
that
we
were
comfortable
and
so
clearly
things
are
fairly
Dynamic
here
and
we
will,
as
staff
from
gfo
and
fiscal
hope,
continue
to
interact
with
the
treasurer's
office
once
after
the
November
14th
meeting,
because
we
might
have
some
idea
where
the
revenues
could
be
min
max
or
average
to
and
and
and
or
where
things
may
be,
interest
rate,
wise
and
or
economically.
B
So
with
that
that
was
the
information
that
I
wanted
to
present
and
again
we
do
have
staff
from
the
treasurer's
office
if
they
feel
that
they
want
to
put
anything
on
the
record
and
or
if
there's
questions
from
the
members,
then
they
may
be
better
addressed
by
staff
in
the
treasurer's
office
and
hopefully,
I
didn't
misstate
anything
from
the
Treasury
Office
perspective,
as
we've
been
working
this
week
to
work
to
this
sort
of
always
complicated,
but
even
more
complicated
right
now,
given
the
current
context
and
environment,
and
so
with
that
Revenue
Source
I'll,
just
go
through
I'll
continue.
B
Mr
chair
expired
slot
machine
wagering
vouchers
at
the
top
of
the
next
page,
under
the
missed
sales
and
refunds.
B
This
is
the
revenue
Source,
where
it's
we
sometimes
refer
to
a
mosquito,
take
it
in
take
it
out
for
your
gaming
devices
and
so
right
when
you
cash
out
you,
if
you
don't
redeem
that
voucher,
then
after
180
days
it's
deemed
expired
and
then
75
of
the
value
of
that
is
required
to
be
remitted
by
the
gaming
licensee
to
The
Gaming
Control
Board
to
be
deposited
in
the
state
general
fund
in
this
GL.
And
so,
if
you
go
look
at
the
the
table,
one
and
you
can
see
wow.
B
This
is
you've
got
it
went
up
in
22
and
you've
got
it
forecasting
up.
Well,
you
can
see
year-to-date
we've
got
about
9.7
million.
This
is
remitted
quarterly,
and
so
that
9.7
is
two
quarters,
so
the
expectation
is
we
better,
probably
should
be
in
that
18
million
dollar
range
or
thereabouts.
B
So
when
The
Gaming
Control
Board,
provided
these
forecasts
to
gfo
and
fiscal,
we
were
comfortable
with
them
talking
again
us
thinking
through
it,
but
also
then
talking
with
Mr
Lawton
sort
of
there's
the
reasons
lying
behind
this
are
that
why
we
saw
the
increased
training?
Well,
if
any
of
you
go
look
at
the
the
charts
that
we
put
together
for
the
economic
Forum
that
are
available
on
the
Nevada
legislature's
website
for
the
form
and
look
at
the
gaming
charts.
B
The
slot
win
is
very
big
in
terms
of
what
we've
been
seeing,
and
so
clearly
that
means
there's
more
slop
play.
So
is
there
an
expectation
that
there
might
be
more
unredeemed
slot
vouchers
in
proportion
right
that,
because
this,
the
slot
wind
goes
up?
That
means
people
are
playing
more
and
remember.
The
slot
win
that
I'm
talking
about
is,
from
the
casino's
perspective,
not
the
patrons
perspective,
but
you
have
more
activity
on
that.
B
Also,
there's
an
interesting
phenomena
that
sort
of
pandemic
related
that
there's
a
coin
shortage
and
so
some
of
the
properties.
Actually,
if
you
win
3.37
cents,
so
you
go
to
the
machine.
They'll
pay
you
three
dollars,
but
they'll
leave
the
37
cents
on
the
voucher
and
you
need
to
go
to
the
cage
to
get
your
37
cents,
so
I
think
as
Economist
or
you
don't
even
have
to
be
an
economist
to
go.
B
Perhaps
the
opportunity
cost
of
walking
to
the
cage
to
get
your
37
cents
as
bigger
than
the
37
cents,
so
some
of
these
tickets
end
up
getting
unredeemed,
and
so
that's
that's
what's
driving
this,
and
we
we
think
the
expectation
is,
is
that
it's
perfectly
reasonable
to
expect
that
it
would
stay
up
in
this.
B
This
range
over
the
forecast
Horizon,
given
what
we're
seeing
going
on
and
expect
to
probably
go
on
throughout
the
forecast,
Horizon
and
then
finally,
on
this
page,
the
unclaimed
property,
because
we
also
have
I
think
staff
from
the
treasurer's
office
here
for
the
unclaimed
property.
B
If
there
are
questions,
but
this
is
It's
a
sort
of
like
the
expired
slot
machine
waging
vouchers
but
the
the
the
different
types
of
property
and
they
have
under
the
NRS
different
time
periods
for
which
they
are
deemed
to
be
unclaimed
and
they're
a
longer
Horizon
than
this
180
days
for
expired
slots.
But
so
we
have
the
ability
to
go
in
and
the
controller.
The
the
excuse
me
the
state
treasurer
when
they're
putting
information
in
controller
system.
B
We
can
see
the
different
components
of
this
and
what's
getting
posted
and
look
at
that,
so
both
gfo
and
fiscal
have
that
information.
The
forecast
as
and
clearly
the
treasurer
has
that,
as
well
as
additional
information.
So
you
can
see
the
three
forecasts
in
table
three
that
are
presented
to
you
and
fiscal
is
and
the
budget
a
little
higher
in
the
first
year
than
that.
B
But
when
we
looked
at
the
average
that
may
of
all
of
them
we're
going
okay,
that's
sort
of
like
trying
to
split
the
baby
and
again
this
is
a
tough
one,
because
it's
a
net.
It's
people
are
required
to
turn
unclaimed
property
over
to
the
treasurer's
office.
Then,
but
it's
a
Perpetual
claim
against
the
state.
So
then
you
can
go
out
and
find
your
stuff
and
claim
it.
So
what
this
is
is
at
the
end
of
the
fiscal
year,
the
net,
that's
there
from
the
inflows
and
the
outflows
is
transferred.
So
that's
really.
B
What
we're
forecasting
here
is
that
net
of
what
do
you
think
is
going
to
come
in
and
what
you
think
is
going
to
go
out
and
that's
sort
of
this.
What
you
see
here
and
then,
as
you
get
out
into
24
and
25,
the
the
variance
is
much
less
across
the
three
forecasts,
but
when
we
looked
at
the
average,
all
of
them
for
all
three
years,
we
thought
even
the
first
year
that
47,
which
is
sort
of
what
may
call
the
slot
it's
somewhere
in
between
there
and
so
Mr
chair.
B
That
was
the
information
I
wanted
to
present
on
the
revenues
on
this
page
and
with
that
I
can
answer
any
questions
and
again,
if
there
are
any
questions
on
interest
or
inclined
property
that
would
be
better
addressed
by
staff
from
the
treasurer's
office.
I
believe
that
they
are
available
to
us
in
the
zoo
meeting.
Okay,.
G
E
F
Thank
you,
Mr
chairman,
just
on
the
treasure
and
the
unclaimed
property,
we
don't
have
any
year-to-date
figures.
Can
we
get
that
and
if
not
now,
maybe
at
the
next
meeting.
B
So
the
first
quarter
interest
distribution
we
may
have
by
the
end
of
November
meeting
okay,
because
it's
a
quarterly
distribution
that
the
treasure
does
and
I
realized
according
to
September,
but
there's
the
calculation
that
the
treasures
has
to
do
to
do
the
interest
allocation
earned
on
the
pool
to
all
the
different
and
we
that
just
hasn't
been
posted
to
the
control
system.
But
it's
generally
it
can
be
in
this
November
period.
Okay,
it
just
wasn't
before
this
meeting.
B
So
we
will
the
treasurer's
office
staff
is
hearing
it
here
and
we
can
see
that
if
it
hasn't
beneficially
calculated
and
posted,
if
there's
at
least
a
preliminary
number
that
they
can
provide
to
us.
That
will
help.
But
I'll
be
honest
with
you.
Miss
wicker
it'll
help
us
see
the
first
quarter,
but
it
may
not
help
us
much
for
the
future
because
of
what
I
discussed
about
the
interest
rates
going
up
and
this
all
this
money.
But
we
can
get
the
attempt
to
get
that
an
unclaimed
property
again.
B
What
we'll
talk
to
the
treasurer's
office
about
what
we
can
bring
forward
here
and
present
publicly,
because
there
is
information
getting
posted
in
the
controller
system
on
both
the
inflows
and
the
outflows
and
we're
able
to
see
that
in
the
controller
system?
It's
just
it's
in
flux
because
there
are
postings
daily
and
so
I
would
just
reserve
the
right
to
have
a
conversation
with
staff
in
the
treasurer's
office
about
the
pros
and
cons
of
bringing
that
information
forward
to
this
body.
To
help
explain
the
forecast.
Okay.
C
B
It
is
a
valid
request
and
we
will
just
staff
discuss
it
with
the
treasurer's
office.
Thank.
D
To
Thorley
thank
you:
Mr
chair,
Mr,
gendon
up
on
the
general
fund
repayment
section,
so
last
legislative
session.
In
2021
there
was
a
50
million
dollar
loan
from
the
general
fund
made
to
the
K-12
education
stabilization
account,
which
is
like
a
rainy
day
fund
for
K-12
education.
Now
there
wasn't
any
set
repayment
schedule
for
that
it
was,
would
be
repaid
to
the
general
fund
based
off
of
transfers
to
from
the
state
education
fund
to
the
K-12
education.
D
Stabilization
account,
so
is
that
is
that
why
it's
not
on
here
as
a
forecast,
because
that's.
B
My
understanding
that
it's
not
processed
like
this
type
of
repayment-
if
that's
not
true,
then
we
would
have
to
pick
that
up,
but
the
the
way
we
were
looking
at
an
information
set,
that
we
had
that
it's
required
there's
Provisions
with
regards
to
it,
requiring
to
be
repaid
but
I'm
trying
to
go
from
memory
here.
The
structure
of
it
is
different
than
we
see
for
these
types
of
repayments
that
I'm
talking
about
here.
B
So
it's
a
valid
thing
that
we'll
have
to
take
into
consideration
and
that
staff
from
gfog
and
fiscal
can
look
into
because
we
were
aware
of
it
but
I.
Our
thinking
was.
This
is
just
not
here,
it'll
be
handled
off
the
unrestricted
general
fund,
Revenue
tables,
but
if
that's
an
incorrect
assumption,
then
we'll
bring
that
adjustment
back
for
the
next
meeting.
I.
D
I
think
you're
right,
Mr,
gendon
that
it
it's
different
than
these,
where
there's
not
a
set
repayment
schedule,
it's
it's
based
off
of
excess
Revenue
collected
in
the
State
education
fund,
so
I
that
makes
sense
to
me.
I
just
wanted
to
confirm
that
so.
B
No,
it's
a
good
question
and
we
we
will
Circle
back
with
our
gfo
colleagues
and
just
to
make
sure
that
both
offices
are
on
the
same
page
as
to
how
to
interpret
those
statutory
Provisions
as
they
exist.
And
whether
or
not
they
should
be
placed
on
the
repayment
schedule
that
we
see
for
unrestricted
general
fund.
Revenue.
E
My
understanding
is
from
a
prior
conversations
that,
like
the
the
virtual
table,
games
like
roulette
or
other
table
like
games
that
are
actually
automated
and
not
run
with
an
actual
person
at
the
table
are
classified
under
slot
machines
instead
of
different
types
of
Revenue
and
just
wondering,
if
just
confirming
that
that's
true
and
if
that
might
be
having
an
impact
on
some
of
the
increases
in
in
slot
play
that
we're
seeing,
especially
since
that
number
is
carried
forward
into
fiscal
years.
24
and
25.
H
For
the
record,
Mike
Lawton,
Nevada
game
and
control
board
great
question:
you
know
we
haven't
really
seen
a
huge
shift
from
a
table
games
count
into
a
increase.
The
number
of
slot
devices
they've
both
been
relatively
flat.
I
know
there
is
a
goal
of
you
know
having
customers.
The
price
point
is
too
high
at
some
certain
types
of
table
games,
so
customers
will
feel
more
comfortable,
less
intimidated
by
playing
these
electronic
versions
of
table.
H
Games
which
you
are
correct,
are
considered
slot
machines
because
the
types
I
think
that
you're
referring
to
do
not
have
a
live
dealer
and
a
random
number
generator
determines
the
outcome.
So
it
is
a
it
is
a
slot
machine.
H
So
the
the
the
the
the
reason
why
maybe
slot
win
is,
is
outperforming
table,
games,
win
and
and
don't
get
me
wrong
table
games.
Win
Win
is
performing
outstanding
as
well.
There's
a
huge
International
baccarat
component.
That's
that's
still
kind
of
not
there
it's
there,
but
it's
not
like.
Maybe
it
used
to
be
four
or
five
years
ago.
So
that's
why
you
know
the
slot
revenue
is
setting
these
all-time
records.
Whereas
you
know
table
games
is
lagging
a
little
bit,
although
performing
at
record
levels
as
well.
H
I
I,
don't
think
it's
really
a
necessary
necessarily
because
of
this
shift
from
table
games
into
these
electronic
table
games.
Unfortunately,
we
don't
get
data
on
if
the
game
or
the
slot
machine
is
an
electronic
table
game.
We
get
information
based
on
whether
it's
a
nickel,
a
penny,
multi-denom
25
cents
so
but
our
slot
counts-
haven't
risen
in
table
games
decreased
where
you
know
there
might
be
some
kind
of
seismic
shift
on
a
casino
floor.
There
are
more
of
them,
but
I,
don't
I,
don't
know
that.
H
That's
necessarily
the
reason
why
slot
win
is
is
off
the
charts
like
it
is,
there's
a
lot
of
other
reasons.
Why
I
don't
know
that
it's
I
could
really
pin
it
on
on
that
scenario,
I
hope
that
helps.
B
Mr
chair
your
question,
sort
of
reminded
that
an
element
that
I
should
probably
just
add
since
you
asked
about
expired
slot
machine
vouchers
and
we
may
have
to
actually
change
the
titling
here.
There
was
a
bill
passed
last
session
that
was
brought
forward
by
the
gaining
control
board
to
sort
of
change.
B
The
statutory
definition
to
of
the
these
expired
wagering
vouchers,
sort
of
sort
of
lose
the
slot
machine
construct
and
to
add
digital
representations,
which
is
actually
a
hard
concept
for
me
that
it's
one
thing
to
throw
a
piece
of
paper
on
the
ground.
But
I,
don't
know
how
you
lose
a
digital
representation
of
a
voucher,
but
I
guess
it
can
happen.
B
So
thus
the
law
was
amended
and
it
was
our
understanding
as
The
Gaming
Control
Board
was
testifying
on
that
bill
that
there
is
interest
within
the
industry
to
like
many
things,
to
move
away
from
the
paper
construct
and
move
into
a
digital,
and
so
that
it's
our
understanding
from
talking
with
Mr
Lawton
that
that
probably
hasn't
become
a
big
part
of
the
market.
Yet.
B
H
And
Russ
I
think
Russ
to
your
point.
The
two
driving
factors
why
this
tax
is
where
it
is
is,
is
slot
revenue
and,
and
then
the
the
change
in
customer
Behavior
with
the
lack
of
change
was
a
real
eye-opener
for
us
and
we
had
to
make
some
phone
calls
to.
You
know
verify
you
know.
H
That's
that's
that's
indeed
the
case
there's
a
there's,
a
coin
shortage:
I,
don't
I,
don't
know
if
you
guys
were
aware
of
it,
but
these
these
casinos
can't
can't
order
enough
change,
they're
limited
or
the
amount
of
change
that
they
can
order
to
fill
their
Banks,
and
so
they'll
they'll
fill
the
change
bank
at
the
casino
cage,
but
they
won't
be
able
to
fill
all
the
impress
banks
at
these
these
these
kiosks,
where
customers
go
and
exchange
these
vouchers.
So
it's
a
it's
a
change
in
consumer
Behavior
as
well
yeah.
H
B
Mr,
chair
there's
no
other
questions
here
then
Steph
I'll
conclude
that
we're
probably
done
with
the
agenda
item
five
and
then
can
move
on
to
agenda
item
six,
but
is
it
the
tax
credits?
Yes,
please.
Thank
you.
So,
at
the
bottom
of
the
last
page,
there
you
see
it
several
times
and
it's
not
because
we
want
to
keep
showing
you
tax
credits,
it's
just
that's
how
we
have
to
set
up
the
tables
to
account
for
them
and
so
I'm
not
going
to
spend
a
lot
of
time
on
this.
B
Do
you
can
see
if,
unless
there's,
if
there's
questions
tip
to
answer,
so
these
are
the
tax
credit
programs
that
implied
so
the
film
transfer
will
test
credits.
A
staff
from
the
film
office
actually
provides
us
again
a
forecast
for
the
credits
and
they're
able
to
tell
us
the
the
projects
that
have
applied
been
approved
and
they're.
B
Actually,
the
audience
done
and
they've
been
issued,
credits
and
their
credits
have
been
taken
or
the
credits
have
been
issued,
but
they
haven't
been
taken
or
what
we
call
is
there's
projects
that
have
applied
and
they're
in
the
process
of
maybe
getting
approved,
or
they
have
been
approved
and
been
approved
for
a
certain
amount
of
tax
credits.
B
But
you
don't
actually
get
issued
an
amount
of
tax
credits
until
the
audit
is
done,
so
you
could
get
approved
for
say,
3
million
and
but
only
get
awarded
2
million,
because
it's
based
on
what
you're
doing
in
terms
of
your
expenditures,
as
well
as
the
wages
paid
to
employees
above
the
line
below
line
and
all
that.
And
but
this
is
the
forecast
based
on
the
information
that
was
provided
to
us
by
the
film
office.
And
so
we
were
comfortable
based
on
that
information
as
a
forecast
of
what
could
be
taken.
B
B
I
would
about
key
grips
and
all
that
kind
of
stuff,
but
that
you
have
pre-production
and
post-production
and
shooting
and
and
scouting,
and
all
that
kind
of
stuff
that
has
to
occur
while
they're
doing
the
Productions
and
right
they
could
even
come
into
Nevada
shoot
portions
of
it
here
shoot
portions,
otherwise,
then
go
to
Hollywood
and
put
it
all
together
and
put
it
cut
it
and
and
edit
it
and
all
that.
So
that's
that's
that
forecast.
Then
the
economic
development,
transferable
Tech
credits,
the
line
is
just
there
at
zero.
B
These
were
the
ones
that
were
for
the
Tesla
Panasonic
gigafactory
project
and
we
sort
of
have
to
leave
them
on
there
because
to
the
left
of
this
are
hidden
columns.
Put
that
in
it.
So
if
we
would,
we
can
hide
the
row,
but
we
leave
it
on
there
to
remind
ourselves,
don't
delete
the
route
so
and
then
the
cattle's
gone
transferable
cash
credits.
B
This
is
the
one
where
there
is
an
amount
authorizing
statute
to
which
they
can
issue
credits
for
economic
development
type
projects,
and
this
based
on
the
information
from
the
governor's
office.
Economic
Development.
It's
a
program.
That's
just
not
getting
used,
it
has
I
believe
around
five
million
dollars
a
year
in
tax
credits
that
now
are
available
to
be
used
and
granted
and
and
so
based
on
that
information,
it's
or
forecasting
zero,
the
Nevada
new
Marcus
jobs,
Act
tax
credits.
B
This
is
the
program
that
if
you
would
go
look
at
the
history
you'll
see
it
was
there.
This
is
the
second
iteration
of
this
program
that
was
approved,
and
so
the
way
it
works
is
insurance.
Companies
can
make
200
million
dollars
worth
of
contributions
to
qualified
Economic
Development
entities,
and
then
they
go
out
and
try
and
invest
that.
But
so
then
the
insurance
companies
can
get
a
58
credit
against
their
contribution,
so
200
million
times
58
is
160
million
dollars,
but
the
way
it
actually
works
out
is
you.
B
You
start
taking
them
two
years
after
the
you
make
the
contribution,
and
so
but
it
was
effective
for
them
to
take
it
beginning
with
FY
2022,
and
it
goes
12,
12,
11,
11
to
get
to
the
58
percent,
and
so
you
can
see.
12
percent
of
200
million
is
pretty
close
to
24
million
and
by
gosh
we
were
pretty
close
to
24
million.
So
thus
we
believe
this
is
and
then
the
the
correct
Amounts
is
to
put
the
full
12,
12
and
then
11
on
the
sheets.
B
It
can
start
to
vary
a
little
because
of
the
timing,
but
you
can
see
it
was
pretty
close
to
24
million
and
FY
22,
so
we
think
we're
not
going
to
get
beat
up.
Then
the
education
choice
scholarship,
test
credits,
those
amounts
there
are
us
thinking
through
it
and
then
getting
information
from
the
Department
of
Taxation
is.
B
This
is
the
one
that
there
were
statutory
changes
made
to
the
program
in
2019
to
take
the
10
escalator
off
and
cap
the
amount
off
at
6.655
million,
but
also
in
that
session
they
added
an
additional
4.745
million
dollars
for
two
years,
and
then
they
came
in
last
session
in
ab495
and
added
4.745
for
the
one
year
again.
Only
so
the
6.655
and
4.745
is
the
7.4
million,
but
the
the
thing
we
had
to
Think
Through
is
that
the
6.655
million.
B
If
the
total
amount
is
not
awarded
within
the
fiscal
year,
then
that
they're
gone.
So
if
you
would
only
do
5
million
of
the
6.65,
you
can't
carry
the
additional
but
of
the
4.745
they
don't.
They
can
be
carried
forward.
So
thus
we
had
and
clearly
the
pandemic
but
distortions
and
everything,
including
this
tax
credit
program
in
terms
of
people
of
people,
making
contributions
and
and
then
getting
the
tax
credits,
and
so
our
excuse
yeah
for
the
education
choice
and
so
we're
looking
at
it.
B
We
think
it's
safe
to
you
got
basically
the
11
Point
formulating.
Finally
in
FY
2022
and
with
the
4.745,
that's
still
out
there
from
the
last
two
editions
that
will
see
that
show
up
in
FY,
23
and
fy24,
because
it
can
be
carried
forward
and
stacked
on
top
of
the
6.655.
And
then
we
go
back
down
to
the
6.655
and
fy25
because
we'll
be
through
those
three
four
point:
seven,
four:
five
allotments
and
then
the
college
station
plan.
B
You
can
see
the
actual
amount
and
thus
the
forecasts
that
are
there
and
the
affordable
housing
tax
credit
program.
This
is
the
program
that
was
approved
in
2019
of
as
a
4
40
million
dollar
four-year
pilot
program
with
10
million
dollars
a
year
authorized,
but
they
can
do
three
million
more
if
needed,
to
make
a
project
pencil
out
in
2021
the
the
sunset
was
taken
off,
but
the
40
million
was
left
in
place.
Just
the
housing
division
can
use
till
they
exhaust
the
40
million.
B
There's
no
sunset,
and
so
this
information
was
provided
to
us
by
staff
from
the
housing
division,
and
so
the
the
13
million
is
actually
3
million
that
they
approved
from
the
the
10
million
the
year
before
and
and
so
then,
the
ten
minute
is
what
they
think
they'll
be
able
to
get
out
the
door
being
able
to
bundle
it
with
other
Federal
programs
in
the
federal
stimulus
programs
in
terms
and
then
similarly
for
24
and
25,
and
so
based
on
that.
B
And
we
think,
since
it's
still
somewhat
of
a
new
program
and
with
what
the
housing
vision
is
telling
us,
what
the
affordable
housing
need
and
being
able
to
bundle
our
state
tax
credit
program
of
federal
programs
that
it's
probably
prudent
to
put
the
full
amount
of
the
tax
credits
on
for
each
of
the
three
years.
While
we're
still
learning
about
this
program,
and
so
with
that
Mr
chair.
Those
were
the
statements
I
wanted
to
make
with
regards
to
tax
credit
programs,
and
so
that
would
conclude
my
testimony
on
their
agenda
item
six.
F
Russell,
just
so
in
on
the
affordable
housing
transfer,
verbal
tax
credits,
there
was
zero
in
21,
0
and
22..
It
was
so
it
was
available,
but
they
just
didn't
take
advantage
of
it
or
it
was
a
new
program
and
it
needed
startup
time
or.
B
B
So
it
was
our
understanding
that
yeah
they
were
sort
of
getting
things
lined
up
and
then
oh,
that's
sort
of
you
know
evaporated
a
little
bit
and
then
they
got
it
back
so
and
but
also
this
under
the
the
law
coming
out
of
2019,
the
the
credits
were
more
on
the
back
end,
which
is
that
you
had
to
do
your
project
and
that's
a
process
that
you
have
to
go
through
and
the
housing
division
staff.
B
If
you
ever
want
to
know
they
do
a
great
job
of
explaining
this,
and
so
I
won't
attempt
it.
But
it's
like
many
things
you
have
to
apply,
and
then
you
have
to
get
approved
and
you're
trying
to
get
your
federal
stuff,
your
state
stuff
and
your
own
financing
deals
to
get
affordable
housing
get
the
approval
to
build
it
and
the
permitting
and
all
that.
B
So
there
can
take
that
time
and
then
but
then
the
credits
would
have
been
on
the
back
of
the
project,
but
what
they
realized
is
when
they
were
out
there
trying
to
work
this
program
in
the
real
world
that
that
made
it
difficult
because
right,
that
is
the
present
discounted
value
of
a
dollar.
So
then,
in
the
2021
session,
working
with
Senator
ratty,
who
was
the
original
sponsor
of
the
2019
Bill
the
we?
B
E
Okay,
I
think
with
that
we're
ready
for
a
a
motion
to
approve
the
revenue
forecasts
and
tax
credits
for
agenda
items.
Five
and
six.
E
F
E
Okay,
well,
thank
you
very
much.
All
in
favor,
please
say
aye.
B
B
Chairman,
if
you
don't
mind
just
before
you
proceed
to
public
comment
and
then
turn
it
I
just
thought:
I
I
have
a
few
numbers
here
that
might
be
of
interest
too
so
because,
when
you're
looking
at
this
for
the
FY
22
actual,
you
have
all
the
revenue
sources
there.
So
just
for
consideration,
the
actual
amount
for
the
revenue
sources
listed
in
this
table
was
about
887.9
million
dollars.
B
So
if
you
you
take
that-
and
you
add
it
to
the
930.8
million
dollars,
which
is
the
forecast
showing
the
tables
for
these,
then
that's
about
1.818
billion,
and
so
that's
about
149
million
149.5
million
less
than
what
you
see
is
the
forecast
for
24
and
25..
The
bottom
line
total
general
fund
after
credits.
But
then
what
we
need
to
keep
in
mind
is
right.
B
The
npm
and
the
gold
and
silver
are
coming
off
the
sheets,
which
is,
if
you
look
up
above
it's
probably
around
150
million
dollars
a
year
or
300
million
dollars.
So
if
you
back
that
out
everything
excluding
npm
and
gold
and
silver,
the
the
2325
biennium
forecast,
that
is
the
forecast
for
FY,
24
and
25
here
compared
to
the
actual
for
fy22
and
the
forecast
that
you
approve
for
fy23.
B
It
would
have
been
about
105.7
million
dollars
higher,
so
I
just
wanted
to
get
that
out
there,
because
and
also
if
any
of
the
people
in
The
Press
are
listening,
that
they
go
look
at
this
and
go
the
miners
are
going
down.
Well,
they
are,
but
it's
not
because
of
the
forecasting
per
se.
It's
because
there's
a
law
requirement
that
300
million
dollars
over
the
biennium
is
required
to
come
off
of
these
sheets
and
go
over
to
another
set
of
sheets.
B
So
Mr,
chair,
I
I
just
wanted
to
get
that
information
out
there
in
terms
of
and
for
your
consideration.
Also
for
the
body.
E
All
right,
thank
you
with
that.
We
can
go
to
agenda
item
seven,
which
is
one
more
opportunity
for
public
comment.
Do
we
have
any
public
comment
here
in
Carson
City?
E
Okay,
can
we
have
someone
from
broadcast
just
confirm,
there's
no
one
on
the
phone
wanting
to
make
any
public
comment.
C
All
right
chair
there
is
no
public
comment
or
sorry.
There
are
no
public
on
the
phone
to
offer
public
comment
at
this
time.
All.
E
Right.
Thank
you
very
much
with
that.
B
Mind,
sorry,
we
don't
it's
good
I
might
have
to
have
you
slap
the
gavel
down
on
my
hand,
so
it
didn't
make
a
noise
so
we're.
As
you
know,
we've
been
interacting
with
you
and
we're
tentatively.
Looking
at
November,
29th
is
probably
the
date
as
you
realize.
This
is
going
to
be
a
pretty
tight
turnaround
with
the
Forum
meeting
on
November
14th,
and
so
we'll
see
you
shortly
again.
B
The
way
days
go
by
so
we
will
be
getting
additional
information,
as
we've
discussed
and
then
as
necessary,
interacting
with
state
agencies
or
constitutional
officers
and
their
staff,
and
bring
back
as
necessary
a
revised
forecast
for
your
consideration
at
that
next
meeting
and
staff
will
just
be
working
with
you
in
terms
of
the
schedules,
but
I
think
we're
just
logistically.
Thanksgiving
always
causes
a
problem,
but
that
we
think
that's
the
date.
That's
probably
most
viable
Mr
chair
to
have
the
meeting
and
again
some
of
the
comments
and
questions
are
here.
B
We'll
give
consideration
too
in
terms
of
what
we
can
bring
as
additional
information
back
and
so
I
just
wanted
to
get
that
out
there
here
in
the
meeting
and
that
record
as
to
what
where
we're
at,
and
so,
if
any
of
the
members
do
have
things
that
come
up.
Please
let
us
know
the
staff
we
can
attempt
to
try
and
entertain
those
and
then
as
necessary,
handle
them
at
the
next
meeting
and
we'll
clearly
work
with
chair
Schmidt.
B
If
on
setting
up
the
meeting
the
agenda
and
and
all
that
stuff
that
we
do
as
staff
working
with
the
chair.
E
All
right,
thank
you
very
much
and
with
that
I
believe
we
are
adjourned.