The Nevada Legislature’s Interim Finance Committee on Monday approved the transfer of the $401 million in the state’s rainy day fund to the state’s general fund.
The money will help cover revenue losses caused by coronavirus business closures.
The state says it estimates a revenue shortfall for this fiscal year of between $741 million and $911 million.
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The state’s Board of Examiners first approved the transfer last week, following declarations of a fiscal emergency by Governor Sisolak and by the legislative committee