|Nevada Senate Majority Leader Steven Horsford, D-Las Vegas|
Senate Judicial Resolution 15 would repeal the Nevada Constitution’s provision establishing a separate tax rate for mines and barring imposition of real, personal and other property taxes on them. [Nevada Appeal]
A step in the right direction, I think. But it will be awhile before it will take effect, if successful. âBefore the constitution actually changes as proposed in the resolution, it must pass the Legislature in two consecutive sessions and then be approved by a vote of the people of Nevada.â
Those are substantial barriers to allowing more equitable taxation on the mining industry.
Additionally, the committee amended and voted to recommend passage of Senate Bill 493 establishing the Mining Oversight and Accountability Commission.
âThat seven-member panel appointed by the governor and legislative leadership would have power to oversee mining issues before the tax commission, department of industrial relations, commission on mineral resources, bureau of mines and the division of environmental protection.â
âUnder the amendment proposed by Senate Majority Leader Steven Horsford, D-Las Vegas, the bill would also sharply limit the deductions mines can take against the net proceeds of mines tax they currently pay.â
Since the governor will appoint the members of the panel, it will be important who that governor is. If it is another governor, like Jim Gibbons or Brian Sandoval, who both ran for office on a pledge of âno new taxesâ it may not be worth much.
One lesson from all this is never to elect anyone who professes they will not even consider raising taxes, no matter what. That is sort of like reducing their budget tools and options. Like removing the bat from the hitter’