The Department of Taxation could soon receive nearly $890,000 for startup costs needed to begin regulating and taxing Nevada's new recreational marijuana industry.
The Reno Gazette-Journal reports that the three-person Nevada Board of Examiners has approved $887,491 from the Interim Finance Contingency Account to go to the department for the financial year that ends June 30. The Interim Finance Committee will consider the funding proposal for final approval on Jan. 26.
The funding will act as a loan from the Interim Finance contingency as the department sets up measures to regulate the new industry.
Gov. Brian Sandoval and Attorney General Adam Laxalt approved the item. Secretary of State Barbara Cegavske voted against it, saying it should have been brought before the Legislature, not the committee.