Nevada Revised Statutes 321.418 – Restore Nevada’s Treasures Revolving Account
1. The Restore Nevada’s Treasures Revolving Account is hereby created as a special account in the State General Fund.
Terms Used In Nevada Revised Statutes 321.418
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
2. The State Land Registrar shall deposit into the Revolving Account money received:
(a) As a gift, grant or donation pursuant to NRS 321.414; and
(b) From payments made by a private partner pursuant to a public-private partnership.
3. The State Land Registrar may use the money in the Revolving Account only for the expenses related to:
(a) The acquisition of a historic building pursuant to NRS 321.412; and
(b) Expenses relating to a public-private partnership.
4. The State Land Registrar shall:
(a) Approve any disbursements from the Revolving Account; and
(b) Maintain records of any such disbursement.
5. The balance of the Revolving Account must be carried forward at the end of each fiscal year.