Vote Nevada supporters,
The second major legislative deadline happened last Tuesday, April 22nd. Bills needed to pass out of the first house to stay alive, which means Assembly bills needed an affirmative floor vote to move to the Senate, and Senate bills needed an affirmative floor vote to move to the Assembly.
Unlike the first deadline, however, which resulted in approximately 281 dead bills, this deadline only saw seven bills die, with 200 bills exempted. When a bill is exempted, it cannot die due to a missed deadline. Why do they have deadlines if deadlines can be easily ignored? Welcome to our legislature.
Something that cannot be ignored is this week’s meeting of the Economic Forum, scheduled for Thursday, May 1st, at 9:30 a.m. The legislature established the Economic Forum and its companion Technical Advisory Committee on Future Revenues in 1993 to estimate the amount of money available each biennium for the state budget.
You can read more about how we manage the state budget here: https://sondracosgrove.substack.com/p/death-by-fiscal-note-and-the-state
During the May 1st meeting, the Economic Forum Commissioners will decide if their December estimate was too high, too low, or just right. As we all know, economic indicators are falling due to uncertainty surrounding the tariffs and the Trump administration’s more aggressive foreign policy stance. The loss of Canadian tourism is already hitting Nevada’s bottom line.
You can review the Economic Forum reports and watch the hearing from this page: https://www.leg.state.nv.us/App/InterimCommittee/REL/Interim2023/Meeting/34580
We all expect the state revenue projection to be lower; we just aren’t sure by how much. Because Nevada is a balanced budget state, if the revenue projection is lower than the one in December, the Governor and legislative leadership must cut the budget.
Unlike what happened in 2008-2009 when the Great Recession started, our economy is not collapsing. Instead, what is happening now is more akin to what occurred in 2020-2021 when the pandemic struck. The question is: When will the current issues causing the economy to contract be resolved?
I am hosting a Zoom meeting on Friday morning, May 2nd, from 9 to 10 AM, to review the reports from the Economic Forum and the Technical Advisory Committee. If you’d like to join, you can RSVP here: https://us02web.zoom.us/meeting/register/lYjJbN25Q6-kdJ9YwB8wpw
Thanks for being Nevadans with me,
Sondra
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