231.153 - Creation; transfer of money to State General Fund.
231.153 Creation; transfer of money to State General Fund.
1. The Nevada Economic Development Fund is hereby created in the State Treasury as a special revenue fund.
2. Except as otherwise provided in subsection 4, the Nevada Economic Development Fund is a continuing fund without reversion. The money in the Fund must be invested as the money in other state funds is invested. The interest and income earned on the money in the Fund, after deducting any applicable charges, must be credited to the Fund. Claims against the Fund must be paid as other claims against the State are paid.
3. The Commission on Economic Development may accept gifts, grants and donations from any source for deposit in the Nevada Economic Development Fund.
4. The State Board of Examiners may, upon making a determination that any portion of any amount appropriated by the Legislature for deposit in the Fund is necessary to meet existing or future obligations of the State, recommend to the Interim Finance Committee that the amount so needed be transferred from the Fund to the State General Fund. Upon approval of the Interim Finance Committee, the money may be so transferred.
(Added to NRS by 2005, 22nd Special Session, 110)