SB 416-Reversion Bill Rainy Day Fund

An interesting phenomenon exists in our state when it comes to education funding.  The Distributive School Account—more commonly referred to as the DSA—is funded by sales tax, property tax, and the general fund.  The general fund appropriation kicks in when the sales and property taxes do not generate sufficient revenue to cover the DSA appropriations.  On the other hand, when revenue exceeds the projections, the general fund appropriation goes away and education does not get to partake in the good financial times.

• Since 1979, more than $500 million was reverted.  Where did that money go?
• For the 2003-2005 budget cycle there was a $141 million in reversion money.  Why doesn’t that money stay in the DSA?  
• Classrooms in Nevada are overcrowded. 
• Our students use outdated textbooks and supplies as well as outdated technology.
• We cannot attract and retain teachers and support professionals with the starting salaries in this state.
• That money needs to stay in K-12.  It must be used to help solve the education funding crisis.
• K-12 public education never enjoys the good times. It’s time public education in Nevada is given the attention it needs and deserve.
• Passage of SB 416 would create a rainy day fund for education that would at least begin to address this issue.  Please support SB 416—Senator John Lee’s reversion bill.