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April 10, 2011

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The argument that "..SJR15 would result in them paying less taxes, without an alternative is completely absurd! This argument was destroyed by Senator Horsford, and a record of it exists in the Minutes when SRJ 15 was given a "Do Pass" recommendation.

"I need to respond to one argument I am hearing that I feel is not at all valid. To suggest somehow that putting S.J.R. 15 to a vote of the public in five years can somehow be a tax decrease on the mining industry is false. It is false. It is spin. It is misrepresentation of the facts.
They want to come here and tell us do not pass S.J.R. 15 because it may result, in five years, in a tax decrease on us. Is that the message? That is what I heard, and I had to come back and refute it. This bill empowers the Legislature and the Governor, if it is approved again in 2013 and approved by the voters thereafter, to set the rate. It allows us to determine what the split is between county and state and it allows us to determine whether we would impose an additional tax other than the net proceeds. Those are three things we have no control over because of a special provision in the Constitution that they lobbied for and imposed in the Constitution dating back to 1987. To now come here and suggest that somehow, if we change that, they will get a tax decrease--I do not buy it, and neither should this Committee, or the people of the State of Nevada."

As a resident living in the mining community of Elko, I find it appalling that our elected officials, and yours, have completely forgotten the issues, and moreover the detrimental effect this 1987 amendment caping the taxes to 5% net proceeds has had on the State. It raises some concerns especially after this stance has been taken shortly after the latest "Lake Tahoe wine and dine with the Nevada Mining Association!"

Recently, Newmont initiated their FIRST WAVE of layoffs!
For 2010, mining companies only paid $71.7 million through the Net Proceeds of Minerals Tax to the state's General Fund, despite having gross production value of $6.6 billion--an effective tax rate of 1%. A total of six mines, or one-quarter of the 24 mines in the state reported NO - absolutely ZERO - taxable value despite reporting $88.6 million in gross production value. Thus, it could be said that Nevada's mining tax regime is more "deduction" than tax--fool's gold."

Here is more support why our representatives should not back off passing SJR 15:

(Suggest removal) 10/27/12 at 9:09 p.m.

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