Breaking: LCB sends Moody’s a notice of default

Victor Joecks

Wow. Maybe I was wrong about the tax study going into hiding. It could be just going away

Sean Whaley of the Nevada News Bureau has the breaking news.

A firm hired by the Nevada Legislature to produce a report on the state’s revenue structure has been sent a notice of default for failing to turn in the document by a July 1 deadline.

Lorne Malkiewich, director of the Legislative Counsel Bureau, said the notice was sent Wednesday to Moody’s Analytics, the contractor hired to perform the study. The company has 10 days to respond by producing the final report or the contract will be terminated, he said.

Malkiewich said an effort was made to negotiate an extension with the West Chester, Penn., based firm without success.

Wow. Only note of caution is this line.

Malkiewich said an arrangement may still be worked out with Moody’s.

Assuming this isn’t just a power play by the LCB to get Moody’s to delay the report until after the election for no additional compensation, this is big news.