Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
-
83rd Session (2025)
Assembly Bill No. 554–Committee on Ways and Means
CHAPTER..........
AN ACT relating to financial administration; providing that any
money remaining in the Grant Matching Account at the end
of the fiscal year does not revert to the State General Fund;
and providing other matters properly relating thereto.
Legislative Counsel’s Digest:
Existing law creates the Nevada Grant Matching Program within the Office of
Federal Assistance in the Office of the Governor to provide funds as grants to state
agencies, local agencies, tribal governments and nonprofit organizations for the
purpose of satisfying the matching funds requirement for a federal grant. (NRS
223.490) Existing law also: (1) creates the Grant Matching Account as part of the
Program; and (2) requires money in the Account, except for money received from a
grant, gift or donation to the Account, that has not been committed for expenditure
on or before June 30 of an odd-numbered fiscal year to revert to the State General
Fund. (NRS 223.492) This bill provides that any money remaining in the Account
at the end of a fiscal year does not revert to the State General Fund and requires the
balance in the Account to be carried forward to the next fiscal year.
EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. NRS 223.492 is hereby amended to read as follows:
223.492 1. The Grant Matching Account is hereby created in
the State General Fund. The Office shall administer the Grant
Matching Account.
2. Money received from:
(a) A direct legislative appropriation to the Grant Matching
Account;
(b) A transfer from the Abandoned Property Trust Account
pursuant to NRS 120A.620; and
(c) A grant, gift or donation to the Grant Matching Account,
must be deposited in the Grant Matching Account. The interest
and income earned on the money in the Grant Matching Account
must be credited to the Grant Matching Account.
3. [Except as otherwise provided in subsection 4, the balance]
Any money remaining in the Grant Matching Account [that has not
been committed for expenditure on or before June 30 of an odd-
numbered fiscal year reverts] at the end of a fiscal year does not
revert to the State General Fund [.] , and the balance in the
Account must be carried forward to the next fiscal year.
– 2 –
-
83rd Session (2025)
4. All money received from a grant, gift or donation to the
Grant Matching Account:
(a) Must be accounted for separately in the Account; and
(b) Must be expended in accordance with the terms of the gift,
grant or donation . [; and
(c) Does not revert to the State General Fund and must be
carried over into the next fiscal year.]
Sec. 2. This act becomes effective upon passage and approval.
20 ~~~~~ 25