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• top 5 strategies
  • 1. Create the Nevada Job Bonds Support Fund
  • 2. Require State and Local Governments to Dedicate Annual Appropriations / Authorizations to Capital Programs
  • 3. Eliminate Tax Rate Sunsets Dedicated to Capital Projects
  • 4. Provide a Streamlined Permitting Process and Permit and Planning Fee Abatements
  • 5. Index the Motor Vehicle Fuel Tax
• all strategies
  • 1. Create the Nevada Job Bonds Support Fund
  • 2. Require State and Local Governments to Dedicate Annual Appropriations / Authorizations to Capital Programs
  • 3. Eliminate Tax Rate Sunsets Dedicated to Capital Projects
  • 4. Provide a Streamlined Permitting Process and Permit and Planning Fee Abatements
  • 5. Index the Motor Vehicle Fuel Tax
  • Create a User-based Funding Mechanism to Support the Construction of Transmission Lines
  • Create Industrial Hubs with Development and Transmission of Clean Energy, Transportation, and Communication Capabilities
  • Require the State of Nevada to Produce and Publish a Rolling Five-Year Capital Improvement Plan
  • Require A “Yellow Pages” Test for All State and Local Government Development, Design and Construction Projects
  • Require Local Governments to Include a Schedule in Their Annual Capital Improvement Programs that Shows the Funding Status
  • Prohibit the Use of any Dedicated Capital Dollars for the On-Going Operations of State and Local Governments
  • Dedicate a Set Percentage of State General Fund Reversions to Economic Development Programs
  • Restructure State Economic Incentives to Favor Employee Training Programs
  • Create an Economic Incentive Program for Businesses that Work to Attract Their Suppliers to Nevada
  • Research-to-Results Program: Make 20 Percent of University System Funding Competitive Based on Economic Development Outcomes
  • Create a Job Corps for People Receiving Unemployment Insurance Benefits Longer than 20 Weeks
  • Modify The Millennium Scholarship Program to Offset Tuition Costs For Students Concentrating In Science, Technology, Engineering And Mathematics
  • Consider The Creation Of A Private Equity Program, Which Invests The State’s Severance Tax Permanent Fund In Qualifying Private Equity And Venture Capital Firms
  • Create an iHub System, Leveraging Assets Such As Research Parks, Technology Incubators, Universities, And Federal Laboratories
  • Create Aggressive Tax Credits For Start-Up Companies In Research And Development (Similar To Utah’s Centers Of Excellence Program)
  • Create A Nevada Modified Business Tax Credit Of Up To 10 Percent of Total Liability
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Building Jobs Coalition of Nevada

Along these same lines, there may be instances where changing legislatively imposed requirements relating to bonding may benefit from increased flexibility. For instance, bonds for capital projects are generally limited to terms of less than 30 years. However, in a limited number of cases, such as projects which generate user fees or for which the useful life of the asset extends beyond 30 years, there may be instances where longer financing terms may be useful to accelerating the timeline of a needed capital project.

Lifting the statutory restriction in favor of a case-by-case assessment of the most appropriate term for each project may free up additional capacity in the near term. The interest tradeoff may be material, but the increased flexibility may prove useful and could have a material impact on job creation and/or preserving existing jobs. In assessing the potential for longer-term financing, the benefits of additional leverage should be carefully analyzed against any additional interest cost which may be incurred; and, use of such mechanisms as capital appreciation bonds or refunding of existing bonds should be undertaken only if justified by economic and fiscal benefits. Notably, amending NRS 408.273 to permit bond maturities up to 30 years for state highway bonds (not contingent on Nevada receiving federal highway funds) may be a meaningful first step. Currently, maturities are limited to 20 years.