A.B. 355
- *AB355*
ASSEMBLY BILL NO. 355–COMMITTEE ON WAYS AND MEANS
MARCH 4, 2025
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Referred to Committee on Ways and Means
SUMMARY—Revises provisions relating to education.
(BDR 34-937)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State: No.
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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
AN ACT relating to education; providing that any money remaining
in the Fund to Assist School Districts in Financing Capital
Improvements and the Fund to Assist Rural School
Districts in Financing Capital Improvements at the end of
the fiscal year does not revert to the State General Fund;
and providing other matters properly relating thereto.
Legislative Counsel’s Digest:
Existing law creates in the State Treasury the Fund to Assist School Districts in 1
Financing Capital Improvements and requires that the money in the Fund be used to 2
provide grants to school districts within which certain emergency conditions exist. 3
(NRS 387.333, 387.3335) Existing law additionally creates in the State Treasury 4
the Fund to Assist Rural School Districts in Financing Capital Improvements and 5
requires that the money in the Fund be used to make grants to school districts in 6
counties whose population is less than 100,000 (currently all counties other than 7
Clark and Washoe Counties) for certain capital projects. (NRS 387.3341-387.3344) 8
This bill provides that any money remaining in those Funds at the end of a fiscal 9
year does not revert to the State General Fund and requires that the balances in 10
those Funds be carried forward to the next fiscal year. 11
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. NRS 387.333 is hereby amended to read as follows: 1
387.333 1. The Fund to Assist School Districts in Financing 2
Capital Improvements is hereby created in the State Treasury, to be 3
administered by the Director of the Office of Finance. All money 4
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- *AB355*
received and held by the State Treasurer for the purpose of the Fund 1
must be deposited in the Fund. 2
2. The Director of the Office of Finance may accept gifts and 3
grants from any source for deposit in the Fund. 4
3. The money in the Fund must be invested as the money in 5
other state funds is invested. All interest and income earned on the 6
money in the Fund must be credited to the Fund. 7
4. Claims against the Fund must be paid as other claims against 8
the State are paid. 9
5. Any money remaining in the Fund at the end of a fiscal 10
year does not revert to the State General Fund, and the balance in 11
the Fund must be carried forward to the next fiscal year. 12
Sec. 2. NRS 387.3341 is hereby amended to read as follows: 13
387.3341 1. The Fund to Assist Rural School Districts in 14
Financing Capital Improvements is hereby created in the State 15
Treasury, to be administered by the Director of the Office of 16
Finance. All money received and held by the State Treasurer for the 17
purpose of the Fund must be deposited in the Fund. 18
2. The Director of the Office of Finance may accept gifts and 19
grants from any source for deposit in the Fund. 20
3. The money in the Fund must be invested as the money in 21
other state funds is invested. All interest and income earned on the 22
money in the Fund must be credited to the Fund. 23
4. Claims against the Fund must be paid as other claims against 24
the State are paid. 25
5. Money in the Fund must be used to make grants to school 26
districts in counties whose population is less than 100,000, for the 27
following purposes: 28
(a) Construction, design or purchase of new buildings for 29
schools, including, but not limited to, teacherages, dormitories, 30
dining halls, gymnasiums and stadiums. 31
(b) Enlarging, remodeling or repairing existing buildings or 32
grounds for schools, including, but not limited to, teacherages, 33
dormitories, dining halls, gymnasiums and stadiums. 34
(c) Acquiring sites for building schools, or additional real 35
property for necessary purposes related to schools, including, but 36
not limited to, playgrounds, athletic fields and sites for stadiums. 37
6. Any money remaining in the Fund at the end of a fiscal 38
year does not revert to the State General Fund, and the balance in 39
the Fund must be carried forward to the next fiscal year. 40
Sec. 3. This act becomes effective upon passage and approval. 41
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