Nevada Revised Statutes 226.466 – Account for Student Loan Repayment for Providers of Health Care in Underserved Communities: Creation; administration; sources and uses of money; interest and income; gifts, donations, bequests and grants
1. The Account for Student Loan Repayment for Providers of Health Care in Underserved Communities is hereby created in the State General Fund. The State Treasurer shall administer the Account.
Terms Used In Nevada Revised Statutes 226.466
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
2. Money for the Account may be provided:
(a) By direct legislative appropriation;
(b) By transfer from another account, including, without limitation, the Abandoned Property Trust Account created by NRS 120A.620; or
(c) As provided in subsection 5.
3. Money in the Account must be used solely:
(a) To administer the Account and the Program; and
(b) To repay the student education loans of providers of health care who have qualified for such repayment pursuant to NRS 226.460 and 226.462.
4. The interest and income earned 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 a fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.
5. The State Treasurer may apply for and accept any gift, donation, bequest, grant or other source of money for the purpose of administering the Program and repaying the student education loans of providers of health care who have qualified for repayment of student education loans pursuant to NRS 226.460 and 226.462. The State Treasurer shall deposit any money so received into the Account.