Nevada Revised Statutes 231.1536 – Account for the Nevada Main Street Program: Creation; administration; use; deposits; interest and income; claims; nonreversion
1. The Account for the Nevada Main Street Program is hereby created in the State General Fund.
Terms Used In Nevada Revised Statutes 231.1536
- Bequest: Property gifted by will.
- 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.
2. The Executive Director or his or her designee shall administer the Account and may apply for and accept any donation, gift, grant, bequest or other source of money for deposit in the Account.
3. The money in the Account must be used to:
(a) Provide technical assistance and training to local Main Street programs;
(b) Award grants to designated local Main Street programs approved pursuant to the regulations adopted pursuant to NRS 231.1535; and
(c) Pay any reasonable administrative expenses incurred by the Executive Director or his or her designee to carry out the Program.
4. Any money appropriated from the State General Fund for the Program must be deposited in the Account.
5. The interest and income earned on money in the Account, after deducting any applicable charges, must be credited to the Account.
6. Any claims against the Account must be paid as other claims against the State are paid.
7. Any money in the Account remaining at the end of a fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.