| | MINUTES OF THE MEETING OF THE |
 | | Keane explained that regarding the constitutionality issue, NRS 361.320 provided for the central assessment and mile-unit apportionment of various listed industries and that companies within those industries would be centrally assessed and have mile-unit apportionment if they were of a multi-county or multi-state nature. |
 | | Guinasso commented that it should be kept in mind that the taxable value, pursuant to subsection 4 of NRS 361.320, might never exceed the cost of replacement, less depreciation, and conceivably that could be the case. |
 | | Ritter explained that the legislation added the “pay as you go” amount into the formula for distribution, which only impacted Elko County, as it was the only county school district with a “pay as you go” rate, which had recently been passed by the county voters at 75¢. |
| www.leg.state.nv.us /71st/Interim/StatCom/TaxDistAdvis/Minutes/IM-TaxDistAdvis-20020320-317.html (11579 words) |