Las Vegas Sun

May 5, 2024

Senate Finance OKs Tahoe bonds

The committee had heard AB285, which calls for general obligation bonds to pay for part of Nevada's $82 million share of a $900 million restoration plan, on May 19.

Instead of approving the plan then, Finance Chairman Bill Raggio, R-Reno, complained the Legislature was left out of the process, and said he wanted proof the other entities involved will provide the money they committed.

Raggio said again Tuesday he wants assurance that California, the federal government, the Washoe Tribe and all the others involved in the plan will come through with funding.

"There's nothing in there that sets forth the dollar amount," he said, referring to a letter of intent on the project. "The memorandum of understanding is a nice statement, but there's nothing in there that makes a commitment.

"If we're going to process this bill, there's going to have to be some oversight," he added. "I don't want this to be a unilateral effort."

A 1997 gathering that included President Clinton and Vice President Gore resulted in a $906 million plan for restoring Lake Tahoe's clarity and protecting it from further degradation.

Raggio agreed to recommend the Tahoe bonds, but said any changes in the projects will have to be approved by the Nevada Legislature or the Interim Finance Committee if lawmakers aren't in session.

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