Nevada Revised Statutes 624.580 – Construction Education Account; administration
1. There is hereby created a Construction Education Account as a separate account within the State General Fund.
Terms Used In Nevada Revised Statutes 624.580
- 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.
2. Money deposited in the Account must be used:
(a) For the purposes of construction education and to pay the costs of the Commission on Construction Education as described in accordance with subsection 3, and in addition to any other money provided for construction education from any other source; or
(b) For any other purpose authorized by the Legislature.
3. The Commission on Construction Education shall administer the Construction Education Account and, except as otherwise provided in paragraph (b) of subsection 2, shall disburse the money in the Account as follows:
(a) At least 95 percent of the money deposited in the Account must be used to fund programs of education which relate to building construction and which the Commission on Construction Education determines qualify for grants; and
(b) Not more than 5 percent of the money deposited in the Account may be reserved for operating expenses incurred by the Commission on Construction Education pursuant to this section.
4. The unexpended and unencumbered balance, if any, remaining in the Construction Education Account at the end of each fiscal year, must remain in the Account.