Nevada Expects $162M Budget Shortfall by July

Governor Brian Sandoval is again calling for changes to Nevada's tax system after receiving more bad news about the state budget.

Members of the Interim Finance Committee heard Monday that the state expects to be $162 million behind where it planned to be by the end of the fiscal year in June.

The news comes as gambling and mining tax revenues fall below expectations, and more students enrolled in public schools than projected.

State budget officials recommended several measures to alleviate the shortfall, including giving higher education $6.6 million less for salaries and pulling $28 million from the "rainy day fund" reserve account.

Sandoval says he'll ask agencies to look for savings during the last months of the fiscal year, and says the state needs to explore new revenue sources.
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