1. The State Education Fund is hereby created as a special revenue fund to be administered by the Superintendent of Public Instruction for the purpose of supporting the operation of the public schools in this State. The interest and income earned on the money in the Fund, excluding the direct legislative appropriation from the State General Fund required by subsection 3, must, after deducting any applicable charges, be credited to the Fund. 2. Money which must be deposited for credit to the State Education Fund includes, without limitation: (a) All money derived from interest on the State Permanent School Fund, as provided in NRS 387.030 ; (b) The proceeds of the tax imposed pursuant to NRS 244.33561 and any applicable penalty or interest, less any amount retained by the county treasurer for the actual cost of collecting and administering the tax; (c) The proceeds of the tax imposed pursuant to subsection 1 of NRS 387.195 ; (d) The money identified in subsection 9 of NRS 120A.610 ; (e) The portion of the money in each special account created pursuant to subsection 1 of NRS 179.1187 which is identified in paragraph (d) of subsection 2 of NRS 179.1187 ; (f) The money identified in paragraph (d) of subsection 6 of NRS 278C.250 ; (g) The money identified in subsection 1 of NRS 328.450 ; (h) The money identified in subsection 1 of NRS 328.460 ; (i) The money identified in paragraph (a) of subsection 2 of NRS 360.850 ; (j) The money identified in paragraph (a) of subsection 2 of NRS 360.855 ; (k) The money required to be transferred to the State Education Fund pursuant to NRS 362.100 ; (l) The money required to be deposited to the credit of the State Education Fund pursuant to subsection 4 of NRS 362.170 ; (m) The portion of the proceeds of the tax imposed pursuant to subsection 1 of NRS 372A.290 identified in paragraph (b) of subsection 4 of NRS 372A.290 ; (n) The proceeds of the tax imposed pursuant to subsection 3 of NRS 372A.290 ; (o) The proceeds of the fees, taxes, interest and penalties imposed pursuant to chapter 374 of NRS, as transferred pursuant to subsection 3 of NRS 374.785 ; (p) The money identified in subsection 5 of NRS 445B.640 ; (q) The money identified in paragraph (b) of subsection 7 of NRS 678B.390 ; (r) The portion of the proceeds of the excise tax imposed pursuant to subsection 1 of NRS 463.385 identified in paragraph (c) of subsection 5 of NRS 463.385 ; (s) The money required to be distributed to the State Education Fund pursuant to subsection 3 of NRS 482.181 ; (t) The portion of the proceeds of the fee imposed pursuant to NRS 488.075 identified in subsection 2 of NRS 488.075 ; (u) The portion of the net profits of the grantee of a franchise, right or privilege identified in NRS 709.110 ; (v) The portion of the net profits of the grantee of a franchise identified in NRS 709.230 ; (w) The portion of the net profits of the grantee of a franchise identified in NRS 709.270 ; (x) The money required to be distributed to the State Education Fund pursuant to NRS 363D.290 ; (y) The amount of any fines required to be remitted to the State Treasurer for deposit to the credit of the State Education Fund pursuant to subsection 1 of NRS 555.470 ; (z) The amount of any claim, together with any dividend, interest or other increment required to be transferred to the State Education Fund pursuant to subsection 2 of NRS 120A.645 ; (aa) The portion of the proceeds of the tax imposed pursuant to subsection 2 of NRS 372A.290 identified in paragraph (b) of subsection 5 of NRS 372A.290 ; and (bb) The direct legislative appropriation from the State General Fund required by subsection 3. 3. In addition to money from any other source provided by law, support for the State Education Fund must be provided by direct legislative appropriation from the State General Fund in an amount determined by the Legislature to be sufficient to fund the operation of the public schools in this State for kindergarten through grade 12 for the next ensuing biennium for the population reasonably estimated for that biennium. Money in the State Education Fund does not revert to the State General Fund at the end of a fiscal year, and the balance in the State Education Fund must be carried forward to the next fiscal year. 4. Money in the Fund must be paid out on claims as other claims against the State are paid.
‹ Prev All Nevada sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.