IFC delays tax study, new release date unknown

Victor Joecks

This might be the first time I’ve broken news here on Write on Nevada, so enjoy.

By contract, the Interim Finance Committee’s tax study, prepared by Moody’s Analytics, was scheduled to be released by July 1, 2010. From the original Request for Proposal:

The consultant will prepare and present a final written report of its findings and recommendations, including the proposed strategies and recommendations from the Nevada Vision Stakeholder Group, to the Interim Finance Committee on or before July 1, 2010. (Emphasis original)

But Dave Ziegler and Russell Guindon, both from the Legislative Counsel Bureau, have confirmed that the release of the tax study has been delayed. Both told me that the state is now negotiating with Moody’s to extend its contract. Neither would offer me a reason for the delay or tell me when Moody’s will release the tax study or even when the new deadline will be released.

I’ve also called Sen. Horsford, chair of the tax study subcommittee of the IFC, but he won’t comment on the record about it. If he does give me a comment, I’ll update this post to include it. I’ve also got a call into Assemblyman Marcus Conklin, vice chair of the tax study subcommittee. I’ll let you know what/if I hear back.

No word on when the next meeting of the Nevada Vision Stakeholder Group will be, either.

I’ll give you some more thoughts tomorrow, but I’ll leave you today with NPRI’s revenue-neutral tax study that would broaden, stabilize and simplify Nevada’s tax system. It’s the only current study of Nevada’s tax system and may be for quite a while.

And it didn’t cost the taxpayers of Nevada $253,000 of dubiously appropriated contingency funds, either.