Nevada Constitution articles. 9. Finance and State Debt
Nevada Constitution – Article 9: Finance and State Debt
Article 9 of the Nevada Constitution covers the financial management of the state, including taxation, budgeting, public debt, and fiscal responsibility.
Key Provisions of Article 9:
Section 1 – Taxation and Revenue
The legislature has the power to levy taxes and collect revenue for the support of the state government.
Taxes must be uniform upon the same class of subjects within the state.
Section 2 – State Debt Limitations
The state may incur public debt only as authorized by law and within limits set by the constitution.
Debt cannot be issued for ordinary expenses but must be for public improvements or other lawful purposes.
There are limitations on the amount of debt the state can assume, to prevent excessive indebtedness.
Section 3 – Budget and Appropriations
The legislature must provide for a balanced budget.
State funds can only be spent for appropriated purposes.
The constitution requires regular financial reporting and auditing.
Section 4 – Public Funds Management
Public funds must be handled with strict accountability.
Provisions exist for safeguarding public money and preventing misuse.
Importance:
Article 9 ensures sound fiscal policy in Nevada, promoting responsible taxation, spending, and borrowing to protect the state’s financial health.
RELATED Blog
0 comments