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The Property Tax Relief bill, AB489, capped owner occupied homes at a 3% increase of the assessed value per year and commercial property was set at 8%. This issue was designated as the number one priority for the legislature in response to the large increases in home values in Clark County and Incline Village. There are many legislators supporting a California Proposition 13 question for the upcoming ballot. Prop. 13 sets tax rates at 1% of the value and may only go up 2% per year after that and is then only applied when property changes ownership.
The Governor set the stage for a rebate to taxpayers in his State of the State Address. Ultimately, another special session was needed, but the Governor was able to give a rebate of $75 - $275 per registered vehicle owner. Over $300 million from the surplus will be given back.
The Governor initially proposed close to the $22 million that was passed in the legislature for all-day kindergarten. Assembly Democrats and school superintendents were looking for over $100 million. The compromise gave money to "at-risk" schools to provide all day kindergarten. There was no money given for expanded facilities for this program.
Washoe County Schools are publicly stating they do not have enough money for capital construction and will be out of money by the next session. They are citing the property tax cap as the reason for the problem, however, they have not showed any justification of this shortfall. BANN will be working on a task force with the Superintendent to address this issue and it may become one of our largest priorities for the next election cycle. AB580 provides for $2 million for Career and Technical Education. Finally, teachers received 2% and 4% increases over the next two years, respectively.
Higher Education was a big winner in receiving a 25% increase in general funding. The Governor maintained the Millennium Scholarship with slight changes to the standards students must keep, and $200 million was given additionally to capital construction with the University of Nevada receiving funding for a new Math and Science building at the cost of $32 million.
The Senate Commerce and Labor killed this bill and the Assembly Democrats lost another one of their major proposals. Last year, voters approved a Constitutional Amendment that will increase the minimum wage $1 per hour and be tied to cost-of-living increases. If approved by voters again, it will become part of the Nevada Constitution and become virtually impossible to change.
Nearly all of the water issues were thrown into SCR26, a bill establishing an Interim Study on Water. Consolidation, conservation, importation and water rights will all be issues discussed in the study. BANN will be involved in all hearings of the Interim Committee. SB466, the water coalition bill, actually accomplished exactly the opposite effect that it was intended to. The bill allows the entity to sell water rights however it wants, in order to receive the best return. There was a $3 million allocation for the State Water Engineers Office for technology and increased staff in Las Vegas, Carson City, and Elko.
The Coalition worked together very well this session. A truce was made with the Trial Lawyers related to construction defect changes and no legislation came about. This will probably be a major issue for BANN in the interim to get prepared for the next session of this issue. Senator Hardy passed SB343, a lien law bill and all major legislation on land use and green building was amended so that it had little effect on the industry. SB332 will affect some builders. The new law states that an owner developer employing sales people will have to designate a sales manager who is a license real estate broker.
Congressman Jim Gibbons has all but announced and is clearly the frontrunner in polls and fundraising with about $5 million in the bank. He will be running on a campaign of lower taxes and less spending.
Jim Rogers, University Chancellor and owner of many major media stations, is stating that he will enter the race if no other Republican candidate will oppose Gibbons. He has the personal money to pay for the entire campaign.
Lt. Governor Lorraine Hunt has announced her candidacy for Governor, yet lags in the polls. She is a strong Las Vegas candidate, however, who has served on the Clark County Commission and has not caused a lot of controversy.
Reno Mayor Bob Cashell has also been mentioned as a candidate and he has not ruled out a run.
Speaker of the Assembly Richard Perkins has a slight edge and is being supported by Las Vegas gamers, unions, and many of the political insiders. He did not have a great session, but does have money in the bank and is definitely in the race.
Senate Minority Leader Dina Titus worked well with the other side of the aisle this year and has been ferociously campaigning all over the state. She is very intelligent and is very aware of the issues.
Las Vegas Mayor Oscar Goodman has also been rumored to be a candidate, but says that he likes being a mayor. However, term limits may be an issue for him.
Henderson Mayor Jim Gibson has also been mentioned as a candidate. He is polished and well spoken, yet has recently stated that he would not run.
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