Nevada legislation · 83rd Legislature (2025)
Nevada AB427: Revises provisions relating to public financial administration. (BDR 31-739)
Status: Introduced
What the bill says
An act relating to public financial administration; revising provisions governing the program administered by a corporation for public benefit to provide private equity funding and venture capital investments to certain businesses; revising provisions relating to certain financing information that is required to be provided to certain small businesses by the Office of Economic Development; and providing other matters properly relating thereto…
From the engrossed text, April 17, 2025:
AN ACT relating to public financial administration; revising provisions governing the program administered by a corporation for public benefit to provide private equity funding and venture capital investments to certain businesses; revising provisions relating to certain financing information that is required to be provided to certain small businesses by the Office of Economic Development; and providing other matters properly relating thereto. Legislative Counsel's Digest: Under existing law, the State of Nevada is prohibited from donating or loaning state money or credit, or subscribing to or being interested in the stock of any company, association or corporation, except a corporation that is formed for educational or charitable purposes. (Nev. Const. Art. 8, § 9) Existing law requires the State Treasurer to form an independent corporation for public benefit, the purpose of which is to act as a limited partner of limited partnerships or a shareholder or member of limited-liability companies that provide private equity funding to businesses that are located in this State or seeking to locate to this State and engage primarily in certain industries. (NRS 355.270) Under existing law, the State Treasurer is prohibited from making certain investments of money in the State Permanent School Fund unless the State Treasurer obtains a judicial determination that such an investment does not violate the prohibition in the Nevada Constitution against the …
Sponsors
- Steve Yeager (D, 9) · primary sponsor
- Richard DeLong (R, 26)
Latest actions
- : (Pursuant to Joint Standing Rule No. 14.3.3, no further action allowed.)
- : Read first time. Referred to Committee on Government Affairs. To committee.
- : In Senate.
- : From printer. To engrossment. Engrossed. First reprint. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 42, Nays: None.) To Senate.
- : Read second time. Amended. (Amend. No. 133.) To printer.
- : From committee: Amend, and do pass as amended.
- : From printer. To committee.
- : Read first time. Referred to Committee on Government Affairs. To printer.
Votes
- Assembly (1st Reprint) (April 17, 2025): 42 yea, 0 nay, passed
Common questions
- What is AB427?
- AB427 is a bill in the Nevada Legislature (83rd Legislature (2025)): Revises provisions relating to public financial administration. (BDR 31-739).
- What does AB427 do?
- In its own words: An act relating to public financial administration; revising provisions governing the program administered by a corporation for public benefit to provide private equity funding and venture capital investments to certain businesses; revising provisions relating to certain financing information that is required to be provided to certain small businesses by the Office of Economic Development; and providing other matters properly relating thereto…
- What is the status of AB427?
- Introduced. Latest action: (Pursuant to Joint Standing Rule No. 14.3.3, no further action allowed.) (May 17, 2025).
- Who sponsored AB427?
- Steve Yeager (D, 9), with 1 co-sponsor.
- Where is the official record for AB427?
- On the Nevada Legislature website: https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12624/Overview
Source: official Nevada record. Tracked by Delilah, AI for legislation across all 50 states and Congress.