Nevada Revised Statutes 490.085 – Revolving Account for the Administration of Off-Highway Vehicle Titling and Registration: Creation; use of money in Account
1. The Revolving Account for the Administration of Off-Highway Vehicle Titling and Registration is hereby created in the State Highway Fund.
Terms Used In Nevada Revised Statutes 490.085
- Department: means the Department of Motor Vehicles. See Nevada Revised Statutes 481.015
- 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.
2. Except as otherwise provided in subsection 3, the Department shall use the money in the Account to pay the expenses of administering the provisions of this chapter relating to the titling and registration of off-highway vehicles.
3. At least once each fiscal quarter, the Department shall transfer any amount in excess of $150,000 in the Revolving Account for the Administration of Off-Highway Vehicle Titling and Registration into the Account for Off-Highway Vehicles created by NRS 490.069.
4. Any money remaining in the Revolving Account for the Administration of Off-Highway Vehicle Titling and Registration at the end of a fiscal year does not revert to the State Highway Fund, and the balance in the Account must be carried forward to the next fiscal year.