NRS 373.120
Limitation on repeal, amendment or modification of ordinance imposing tax

  • dissolution of commission
  • pledge of faith of State.

1.

No county fuel tax ordinance may be repealed or amended or otherwise directly or indirectly modified in such a manner as to impair adversely any outstanding bonds issued under this chapter or other obligations incurred under this chapter, until all obligations for which revenues from such ordinance have been pledged or otherwise made payable from such revenues pursuant to this chapter have been discharged in full, but the board, with the approval of the governing body of each participating city, may at any time dissolve the commission and provide that no further obligations may be incurred thereafter.

2.

The faith of the State of Nevada is hereby pledged that this chapter, NRS 365.180 to 365.200, inclusive, and 365.562, and any law supplemental thereto, including without limitation, provisions for the distribution to any county designated in NRS 373.030, 373.062, 373.065, 373.066 or 373.0663, of the proceeds of the fuel taxes collected thereunder will not be repealed, amended or otherwise directly or indirectly modified in such a manner as to impair adversely any outstanding bonds issued under this chapter or other obligations incurred under this chapter, until all obligations for which any such tax proceeds have been pledged or otherwise made payable from such tax proceeds pursuant to this chapter have been discharged in full, but the State of Nevada may at any time provide by act that no further obligations may be incurred thereafter.

3.

Except as otherwise provided in subsection 4, any continuing increases in any taxes imposed pursuant to NRS 373.0663 must not be pledged beyond June 30 of the fiscal year that is 5 full fiscal years after bonds or other obligations secured by the taxes imposed pursuant to NRS 373.0663 are issued or incurred, but the taxes imposed pursuant to NRS 373.0663 that are in effect on that June 30 must continue to be pledged to those bonds or other obligations until they are paid in full.

4.

At any time after bonds are issued or other obligations incurred with a pledge of the taxes imposed pursuant to NRS 373.0663, the board may, except as otherwise provided in subsection 5 of NRS 373.0663, by ordinance:

(a)

Continue the pledge of the increase in taxes imposed pursuant to NRS 373.0663 beyond June 30 of the fiscal year that is 5 full fiscal years after bonds or other obligations secured by the taxes imposed pursuant to NRS 373.0663 are issued or incurred, but not beyond June 30 of the fiscal year that is 5 full fiscal years after the adoption of the ordinance pursuant to this paragraph. The process set forth in this paragraph may be repeated until all bonds or other obligations secured by the taxes imposed pursuant to NRS 373.0663 have been paid in full.

(b)

Amend the ordinance imposing the tax to specify a different applicable percentage, including an applicable percentage of zero, but:

(1)

The applicable percentage must not exceed 7.8 percent;

(2)

The applicable percentage must not be reduced with respect to any fiscal year preceding the fiscal year following the effective date of an ordinance adopted pursuant to this subsection; and

(3)

The effective date of any ordinance reducing the applicable percentage must not be sooner than the later of:
(I) June 30 of the fiscal year that is 5 full fiscal years after bonds or other obligations secured by the taxes imposed pursuant to NRS 373.0663 are issued or incurred; or
(II) June 30 of the fiscal year that is 5 full fiscal years after the date of adoption of any ordinance pursuant to paragraph (a).

5.

As used in this section, “applicable percentage” has the meaning ascribed to it in paragraph (b) of subsection 6 of NRS 373.0663.

Source: Section 373.120 — Limitation on repeal, amendment or modification of ordinance imposing tax; dissolution of commission; pledge of faith of State., https://www.­leg.­state.­nv.­us/NRS/NRS-373.­html#NRS373Sec120.

373.010
Short title.
373.020
Definitions.
373.021
“Board” defined.
373.022
“City” defined.
373.023
“Commission” defined.
373.024
“Cost of the project” defined.
373.027
“Improvement” and “improve” defined.
373.028
“Project” defined.
373.029
“Town” defined.
373.030
Imposition of tax in certain counties.
373.062
Imposition of tax on diesel fuel in certain counties whose population is less than 100,000
373.065
Additional taxes in counties whose population is less than 700,000: Imposition
373.066
Additional taxes in certain counties whose population is 100,000 or more but less than 700,000: Imposition
373.070
Mandatory provisions of ordinance imposing tax
373.075
Mandatory provision of amendatory ordinance.
373.080
Transmittal to counties of taxes collected by Department
373.083
Returns by persons using special fuels
373.087
Local Fuel Tax Fund: Creation
373.090
Place of sale of fuel.
373.100
Redistribution of taxes, penalties and interest by Department.
373.110
Distribution and use of net proceeds of taxes
373.119
Use of certain collections from sale of fuel for boats
373.120
Limitation on repeal, amendment or modification of ordinance imposing tax
373.131
Payment of cost of project by issuance of revenue bonds and other securities and direct distribution from regional street and highway fund
373.140
Evaluation and approval by commission of project for construction, surfacing or resurfacing of street or highway
373.150
Distribution of revenue to cities and towns not included in regional plan for transportation
373.160
Pledges and liens to secure payment of revenue bonds or other securities.
373.190
Sale of revenue bonds.
373.200
Construction.
373.0205
“Acquisition” and “acquire” defined.
373.0245
“Department” defined.
373.0246
“Diesel fuel” defined.
373.0249
“Highway truck parking” defined.
373.0663
Additional taxes in certain counties whose population is 700,000 or more: Imposition
Last Updated

Jun. 24, 2021

§ 373.120’s source at nv​.us