Click here to read this email as a webpage

Nevada REALTOR Advocate

Economic Forum: Why Is It Important?

As you may know, the Legislature is required to pass a balanced budget. Since the Legislature meets every two years, the budget is for the following two years, which we call the biennium budget period. Have you ever wondered how our state legislators know how much revenue will come in, so that they don’t authorize expenses that would exceed revenue?

The Economic Forum, a panel of five economic and taxation experts from the private sector, is required to provide forecasts of the state's General Fund revenues for the biennium. The first report is due by December 3 before a legislative session -- that figure is used by the Governor in preparing the budget recommendation to the Legislature. The second report is due May 1 during a legislative session -- that figure is the final official revenue estimate that is used by the Legislature in balancing the budget.

Using the figure of $7.89B in revenue from the December 6, 2016 report, the Governor presented a budget of $8.1B during his January 17 State of the State. In his speech, the Governor presented only one new tax, a 10% excise tax on recreational marijuana. This new tax would provide the additional funding needed on top of the $7.89B expected revenue from the December Economic Forum report.

Once the Governor presents his plan, it all goes to the Legislature. Both houses consider the proposed executive budget and vote to approve or change the Governor’s proposal, and what they agree on is then put together in a budget bill crafted by the Legislative Counsel Bureau (LCB). This budget bill will be introduced by May 31.

Through this process, the legislators know how much money they need to fully fund the budgets they have approved. The May 1 Economic Report becomes of critical importance -- if it's higher than $7.89B like this year (about $95.7M more than projected in December), legislators may choose to decrease the amount of new taxes proposed by the Governor, or they may decide to spend more on certain budget items. But if it's lower, like it was in 2015, the legislators need to figure out where the additional funding will come from. That gap between the approved budget and expected revenue must be filled by SOMETHING in order to have a balanced budget.

As for this year’s surplus, Governor Sandoval stated that he would like to see a majority of this new revenue go directly to education, specifically to students in K-12.


Sealing of Eviction Records

AB107 would provide that a summary eviction court file be sealed automatically if the case was denied or dismissed, or if the landlord failed to file the affidavit of complaint within 30 days after the filing by the tenant, as required by law. It would also allow the court to order eviction records sealed under certain other circumstances.

The bill was heard in Senate Judiciary on May 3. No amendments were proposed and it passed out of committee on May 5 on a 4-3 vote. NVAR is monitoring.


Request for Emergency Assistance Not a Nuisance

AB133 would clarify that requests for emergency assistance by a tenant does not constitute a nuisance for purposes of civil or criminal law. It would also prohibit a local government from taking adverse action against a landlord based on the request from a tenant for emergency assistance, and prohibit a landlord from taking adverse action against a tenant based upon a tenant requesting emergency assistance. In addition, it would ensure that a landlord can still evict a tenant if there is a violation of the terms of the lease other than requesting emergency assistance.

The measure was heard in Senate Judiciary on May 3. No amendments were proposed and it passed out of committee on May 5 unanimously. NVAR supports this bill.


Foreclosure of Abandoned Residential Property

SB267 would extend provisions enacted in 2013 that allowed a process to expedite foreclosure on abandoned residential property. It also allowed local governments to keep a registry of those properties deemed vacant. Those provisions are to sunset on June 30, 2017, and this bill would move the sunset date to June 30, 2021.

This bill was heard in Assembly Judiciary on May 1 and received a lot of support. It is scheduled for work session on May 9. NVAR is in support.


Flood Control Projects Needs Committee

AB375 would allow a flood management authority to establish a flood control project needs committee very similar to the public school overcrowding and repair needs committee established in 2015 with SB411. The committee would recommend the imposition of certain taxes for consideration by the voters at the 2018 election to fund flood management projects.

The bill was heard in Senate Revenue and Economic Development on May 2. The committee members had several questions for the bill sponsor and the Truckee River Flood Management Authority. NVAR supports this measure.


2017 SESSION BY THE NUMBERS

The 79th Session of the Nevada Legislature began on February 6, 2017, and will adjourn sine die on June 6, 2017.

BILLS  
# of BDRs 1214
# of Senate Bills 563
# of Assembly Bills 540
Bills Tracked by NVAR 68
DEADLINES  
3/20 Bill Introductions by Legislators (204)
3/27 Bill Introductions by Committees (180)
4/14 First House Committee Passage (256)
4/25 First House Passage (16)
5/1 Economic Forum
5/19 Second House Committee Passage
5/26 Second House Passage
6/5 Sine Die
May 5, 2017 EDITION

In this issue:

2017 Major Investors

Investment completed as of May 4, 2017. Pledges listed for those who have invested at least $300 as of the above date.

Platinum R ($10,000+)

Jack Woodcock

Golden R ($5,000+)

Nancy Anderson
Diane Brown
Ken Gragson
Heidi Kasama
Keith Lynam
George Peek
Devin Reiss
Linda Rheinberger
Mark Stark 

Crystal R ($2,500+)

Tom Blanchard
Rosa Herwick
Charles Kitchen
Greg Martin
Buck Schaeffel
Kevin Sigstad (pledge)
Chantel Tilley (pledge)
Melissa Zimbelman 

Sterling R ($1,000+)

Forrest Barbee (pledge)
Lee Barrett (pledge)
Scott Beaudry (pledge)
Chris Bishop (pledge)
Becky Blankenburg
Steve Bohler
Paul Bottari
Joe Brezny
Edee Campbell (pledge)
Janet Carpenter
Sherrie Cartinella
Betty Chan
Christina Cova-Simmons (pledge)
Shawn Cunningham (pledge)
Cheryl Delahanty
Amber DeLillo
Todd Disbrow
Wendy DiVecchio
Kellie Flodman
Ernie Freggiaro
John Graham
Bob Hamrick
Jessica James (pledge)
Azim Jessa
Soozi Jones-Walker
Keith Kelley (pledge)
Joan Kuptz
Tim Kuptz
Kris Layman
Stephen Lincoln (pledge)
Karen Marsa (pledge)
Penny Mayer
Doug McIntyre
Margie McIntyre (pledge)
Teresa McKee
JC Melvin
Theresa Meyer
Bobbi Miracle
Mark Miscevic
Cassandra Mor
Carol Murphy
Kendra Murray (pledge)
Debbie Primack
Bill Process (pledge)
Pam Reese
Tedd Rosenstein
Kellie Rubin
Neil Schwartz
Sandee Smith (pledge)
Lillian Spencer
Brad Spires
Marcella Syme (pledge)
Dave Tina, Jr.
Dave Tina Sr.
Sandy Wakefield
Cherie Williams (pledge)
Judie Woods
Julie Youngblood
Zar Zanganeh
Kamyar Zargari

Association Corporate Investors

NVAR - Platinum R
GLVAR - Platinum R 

RSAR - Crystal R
SNAR - Crystal R
SNCCIM - Crystal R 

ECAR - Sterling R
IVBOR - Sterling R


Contact NVAR

For more information, please contact:

Contact Government Affairs Directors

 

NVAR Logo

 

Subscription: The Nevada REALTOR® Advocate is sent to all members accepting emails from NVAR. If you would like to unsubscribe from this newsletter, you can do so by clicking here. This newsletter is be published once a week throughout the Legislative Session and once a month during the interim. Archives of the Nevada REALTOR® Advocate are available here.

Prepared by Carrara Nevada for the Nevada Association of REALTORS®



Contributions to PSF are not deductible for federal income tax purposes. They are voluntary and used for political purposes. The amount indicated is merely a guideline. The Association will not favor or disadvantage anyone by reason of their contribution amount. You may refuse to contribute. Until PSF reaches NAR's RPAC goals, 30% of your PAC contribution is sent to National RPAC to support federal candidates and is charged against your limits under 2USC441a; 70% remains in state and a portion of this may be contributed to the Issues Mobilization Fund. After PSF reaches its RPAC goal, it may elect to retain your entire contribution for use in supporting state, and local candidates or issues. (Major donor levels may not be subject to this provision.)


This email is not a solicitation. You have an established and ongoing business relationship with the Nevada Association of REALTORS® (NVAR). NVAR's mission is to strive to enhance the success of its members while protecting private property rights and advocating for its members' interests. NVAR provides services to 15,000 REALTORS® throughout Nevada. NVAR is here to serve you - the professional REALTOR®.

NVAR Office
760 Margrave Dr, Ste 200
Reno, NV 89502
(775) 829-5911   1 800 748-5526

Powered By Blackbaud

This message was sent to your email. Visit your subscription management page to modify your email communication preferences or update your personal profile. To stop receiving this e-mail in the future, click to remove yourself from this list. To stop receiving ALL messages from the Nevada Association of REALTORS®, please click here to remove yourself from all NVAR emails. The National Association of REALTORS® maintains a separate email system to communicate their national news and programs. If you would like to manage those subscriptions and optin/optout of those communications please click here to login to Realtor.org.