Nevada Revised Statutes 408.242 – Establishment of nonreverting account for construction, reconstruction, improvement and maintenance of public roads consisting of money transferred from Fund for Cleaning Up Discharges of Petroleum and money from oth…
1. The Department shall establish an account in the State Highway Fund to be administered by the Director. The interest and income on the money in the account, after deducting any applicable charges, must be credited to the account. Any money remaining in the account at the end of each fiscal year does not revert to the State Highway Fund but must be carried over into the next fiscal year. The money in the account must be used exclusively for the construction, reconstruction, improvement and maintenance of public roads.
Terms Used In Nevada Revised Statutes 408.242
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Nevada Revised Statutes 0.050
2. The account consists of:
(a) The money transferred to the account pursuant to NRS 445C.350;
(b) All income and interest earned on the money in the account; and
(c) All other money received by the account from any source.
3. On July 1 and December 31 of each year, the Director shall allocate:
(a) Seventy percent of the money in the account to a regional transportation commission in a county whose population is 700,000 or more;
(b) Twenty percent of the money in the account to a regional transportation commission in a county whose population is 100,000 or more but less than 700,000; and
(c) Ten percent of the money in the account to the Department for use in counties that have a population of less than 100,000.