Citizens’ panel on tax collections to probe experts

Thursday, Sept. 14, 2000 | 11:45 a.m.

CARSON CITY -- Before predicting state tax collections for the next two years, members of the Economic Forum are going to ask experts in private business about Nevada's economy.

The forum, a group of five citizens, is charged by law with making forecasts of how much tax revenue the state will receive in the next two fiscal years so Gov. Kenny Guinn can develop his budget.

It held its first meeting Wednesday to review past figures, which showed the forum predicted tax revenues of $1.57 billion for the 2000 fiscal year, which ended June 30. The state actually collected $1.64 billion, or 4.5 percent more than forecast.

Before it makes its next predictions, due Dec. 1, member Steve Greathouse suggested panel members talk to banking executives, casino officials and economic forecasters from the two universities. "We ought to get as many opinions as possible," said Greathouse, of Las Vegas.

Forum Chairman Leo Seevers of Reno said seeking outside advice is a "valid idea."

The forum traditionally receives tax estimates from the state Budget Office, the Legislative Fiscal Analysis Office, the Gaming Control Board, the Taxation Department and the Treasurer's Office. The forum examines each source of tax revenue, then makes its estimate.

The governor must not present a budget that is larger than the amount of tax money predicted by the forum. But the forum meets in May, during the closing month of the Legislature, to update its forecasts. And in the past, it has usually increased its predictions by several million dollars to permit a larger spending program.

The next meeting is Oct. 31, when the state agencies will give their forecasts. The forum will then ask for views of outside experts. It will make its predictions Nov. 30. Other members of the forum are Cary Fisher of Las Vegas and David Morgan and Ronald Zideck, both of Reno.