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James gets compromise for his revenue measure

Tuesday, June 5, 2001 | 10:27 a.m.

CARSON CITY -- Lawmakers reached consensus Monday on two key bills that will serve as revenue sources for an education program that includes teacher salary raises, textbooks and technology.

A compromise was reached on Senate Bill 577 to keep intact increased business fees that will raise an estimated $30 million, and at the same time concerns about liability provision were worked out.

Sen. Mark James, R-Las Vegas, led the way to the compromise after the Assembly amended his bill to limit the liability protections corporate directors could enjoy.

James said that the increased fees had to be offset with some sort of carrot to corporate America. In this case -- offering corporate directors protection for their personal assets in lawsuits based on bad business decisions.

Legislators also reached an agreement on Assembly Bill 460, a measure that would recapture more than $23 million in auto rental taxes over the next two years.

With the resolution of both issues, the bills, which are the basis for funding the Distributive School Account, are now on their way to the governor for signature.

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