Under existing law, the Fiscal Analysis Division of the Legislative Counsel Bureau is required to perform certain duties including to: (1) thoroughly examine all agencies of the State of Nevada with special regard to their activities and the duplication of efforts between them; (2) recommend to the Legislature any suggested changes looking toward economy and the elimination of inefficiency in government; and (3) analyze the history and probable future trend of the State's financial position in order that a sound fiscal policy may be developed and maintained for the State. (NRS 218F.600) This bill adds to the duties of the Fiscal Analysis Division.
Specifically, section 1 of this bill requires the Fiscal Analysis Division, during each legislative interim and at the direction of the Interim Finance Committee, to: (1) estimate the potential return on investment of not more than two proposals for the creation of or revision to state programs during the next legislative session; and (2) determine and analyze the annual return on investment of not more than three existing state programs. Section 1 also authorizes, to the extent money is available, the Fiscal Analysis Division to contract with any person who has the necessary expertise to assist the Fiscal Analysis Division in completing this study.