Nevada Revised Statutes 231.1573 – Creation; disposition of interest and income; deposit of payments of loans; nonreversion; administration; gifts, grants and donations
1. The Catalyst Account is hereby created in the State General Fund.
Terms Used In Nevada Revised Statutes 231.1573
- Bequest: Property gifted by will.
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
2. The interest and income earned on:
(a) Money in the Catalyst Account, after deducting any applicable charges; and
(b) Unexpended appropriations made to the Account from the State General Fund, must be credited to the Catalyst Account.
3. All payments of principal and interest on any loan made with money from the Catalyst Account must be deposited in the Account.
4. Any money in the Catalyst Account and any unexpended appropriations made to the Account from the State General Fund remaining at the end of a fiscal year do not revert to the State General Fund, and the balance in the Catalyst Account must be carried forward to the next fiscal year.
5. The Executive Director shall administer the Catalyst Account and may apply for and accept any gift, grant, donation, bequest or other source of money for deposit in the Catalyst Account.