February 27, 2023
Today, Governor Joe Lombardo signed Senate Bill 124, ending a mining tax prepayment in the current the fiscal year, rather than the first year of the next biennium. This measure will effectively transfer roughly $70 million from the General Fund in Fiscal Year 2023 to the State Education Fund in Fiscal Year 2024.
“Due to our budgetary flexibility, it makes sense to end the mining tax prepayment in the current fiscal year,” said Governor Joe Lombardo. “This new deposit of $70 million in the State Education Fund, however, is currently unbudgeted. I believe we should follow the recommendation of the Commission on School Funding and begin offering state-supported transportation to Nevada’s charter school students. I plan to work with the Legislature to utilize a portion of these new funds to make that a reality.”