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NV: State looks to other money sources as revenue drops

By   /   September 18, 2012  /   Comments Off

By Sean Whaley | Nevada News Bureau

CARSON CITY — Declining tax revenue could be good for Nevada.

Because it is compelling Jeff Mohlenkamp, state budget director and member of the Public Works Board, to research funding alternatives to pay for $100 million in capital construction projects.

“We’re hoping to be able to come up with close to the amount being requested, but that’s not a done deal yet,” he said.

Because of Nevada’s economic difficulties, property tax revenue — typically used to fund these projects — is on the decline.

Gov. Brian Sandoval received the proposed list of 83 projects from the Public Works Board and is expected to revise it before submitting it to the Legislature as part of his overall budget in the upcoming session.

Read the complete story at Nevada News Bureau.

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