Nevada Legislators Float Tax Plans to Balance Budget

Williams, Rochelle
April 2003
Bond Buyer;4/1/2003, Vol. 344 Issue 31605, p3
Trade Publication
Nevada lawmakers are presenting nearly a half dozen tax plans in hopes of balancing a $4.8 billion 2004 and 2005 biennium budget that is estimated to incur a $704 million revenue shortfall.Governor Kenny Guinn proposed a nearly $1 billion tax increase to offset the shortfall in 2003.His plan came after the state used $100 million from the rainy-day fund and made more than $211 million in cuts to shore up the budget.Political leader Lynn Hettrick introduced a tax solution that would increase taxes by $636 million, some $400 million less than the tax proposal and would also reduce K-12 funding by $76 million and cut $68 million from higher education funding.


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