381.0064 - Fund for Support of Division of Museums and History: Creation; use of interest and income; transfer of money to State General Fund; annual submission of itemized statement. - Nevada Statutes

381.0064  Fund for Support of Division of Museums and History: Creation; use of interest and income; transfer of money to State General Fund; annual submission of itemized statement.

      1.  The Fund for the Support of the Division of Museums and History of the Department of Cultural Affairs is hereby created as a special revenue fund in the State Treasury. The interest and income earned on the money in the Fund, in an amount not exceeding $300,000 per year, after deducting any applicable charges, must be credited to the Fund. Any interest and income earned in excess of $300,000 per year must be credited to the State General Fund.

      2.  The State Treasurer shall, subject to the limitation in subsection 1, pay to the Administrator at the end of each quarter an amount equal to any interest and income credited to the Fund during that quarter. The Administrator may use the money to pay the expenses related to the operations of the Division.

      3.  The State Board of Examiners may, upon making a determination that any portion of the principal of the money in the Fund is necessary to meet existing or future obligations of the State, recommend to the Interim Finance Committee that the amount so needed be transferred from the Fund to the State General Fund. Upon approval of the Interim Finance Committee, the money may be so transferred.

      4.  The Administrator shall submit an itemized statement of the income and expenditures of the Division each year to the Legislature, if it is in session or, if the Legislature is not in session, to the Interim Finance Committee.

      (Added to NRS by 1995, 2684; A 1997, 124; 2001, 931)