1.  The Director or his or her designee may apply for and accept any gift, donation, bequest, grant or other source of money for the purpose of awarding grants pursuant to NRS 442.725. Any money so received must be deposited in the Account.

Terms Used In Nevada Revised Statutes 442.730

  • Bequest: Property gifted by will.
  • Director: means the Director of the Department. See Nevada Revised Statutes 442.003
  • 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 interest and income earned on money in the Account from any gift, donation or bequest, after deducting any applicable charges, must be credited to the Account.

3.  Money from any gift, donation or bequest that remains in the Account at the end of the 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.

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