Wednesday, May 26, 1999 | 12:01 p.m.
"We'll get better information not just for the next biennium but on what bumps in the road might be six to eight years away," said Senate Majority Leader Bill Raggio, R-Reno, before the 20-1 vote approving AB525.
The measure, already approved by the Assembly, was sent Tuesday to the governor for his signature.
Raggio noted the measure was brought about by Assemblywoman Jan Evans, D-Sparks, who is hospitalized in Reno with ovarian cancer and will not return to the 1999 Legislature.
Raggio cited the success of the Nevada Economic Forum, a five-person panel of business industry leaders created in 1993 to project revenues two years ahead for lawmakers to use in crafting their biennial budgets.
The Economic Forum was in response to the 1992 budget crisis when then-Gov. Bob Miller cut $173 million after sales tax and other revenues fell far below projections then set by lawmakers themselves.
"We have long felt we need better evaluation, prophesy if you will, of what will happen down the road for the next six to eight years," Raggio said.
Envisioned is a 13-member task force comprised of government and private-sector financial experts whom Raggio characterized will have "exceptional ability" to analyze and plan long-range budgeting for the state.
The only dissenting Senate vote on AB525 was cast by Sen. Ann O'Connell, R-Las Vegas, who said she thought the Economic Forum could handle the task.
archive
