NAC360.650. Determination of need for adjustment: Requirements for review; notification of local government or special district; annual report of findings.

     1. To determine whether an adjustment to the amount allocated to a local government or special district from the Local Government Tax Distribution Account is necessary pursuant to NRS 360.695, the Director shall:

     (a) On or before March 31 of each year, review the population, as determined pursuant to NRS 360.285 or subsection 9 of NRS 360.690, and assessed valuation of the taxable property, as determined pursuant to NRS 361.390, of each local government and special district; and

     (b) Review all information that is available concerning the amount allocated to the local government or special district, including, without limitation:

          (1) Whether the local government or special district has been determined to be in severe financial emergency pursuant to NRS 354.685; and

          (2) A comparison of the total per capita revenue of the local government or special district and the total per capita revenue of each other local government or special district of similar size and type.

     2. If, after conducting the review required pursuant to paragraph (a) of subsection 1, the Director determines that an adjustment to the allocation of the local government or special district may be necessary, the Director shall notify that local government or special district of his or her determination within 3 days after the Director makes the determination.

     3. The Director shall report any findings he or she makes pursuant to this section to the Committee on Local Government Finance on or before December 1 of each year.

     (Added to NAC by Tax Comm’n by R042-00, eff. 3-2-2001)