Nevada Revised Statutes 701A.450 – Creation; administration; interest and income; use of money; nonreversion; agreement for repayment of certain loans or distributions through payroll deductions; regulations. [Effective through June 30, 2049.]
1. The Renewable Energy Account is hereby created in the State General Fund.
Terms Used In Nevada Revised Statutes 701A.450
- 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. The Director of the Office of Energy appointed pursuant to NRS 701.150 shall administer the Account.
3. The interest and income earned on the money in the Account must be credited to the Account.
4. The money in the Account must be used for such purposes as the Director of the Office of Energy may establish by regulation.
5. Any money remaining in the Account 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.
6. The Director may by regulation establish a procedure by which any officer or employee of the State to whom the Director has made a loan or other distribution of money from the Account may enter into an agreement with the Director pursuant to which repayment of the loan or other distribution of money may be made through payroll deductions.