Preparing for a new year, a new Governor and the upcoming 2023 Legislative Session.
There is A LOT of stuff going on during this already busy holiday season.
Governor-Elect Joe Lombardo and his team are busy preparing and planning the transition of power in January. There is a lot to do in a short amount of time, but with naming Ben Kieckhefer as his Chief of Staff and selecting experienced leaders to his transition team, the Governor-Elect has set himself up for success. We look forward to celebrating with the Governor-Elect and his entire team at their Gubernatorial Inauguration Ball in January!
With the first day of the 82nd Session just two months away, we are starting to see how the Session will shape up: the Assembly has announced their Committee Chairs, the Senate has announced full Committee appointments, and the deadline to submit BDRs for legislators is this Saturday. Also, in stark contrast to 2021, the social events calendar is quickly filling up. Though there is a lot going on, we are so excited for February!
This will be our last newsletter of the year. (It always goes by so fast.) We’d really appreciate your feedback on how we can improve it for our readers. If you have any ideas or suggestion, please feel free to send me an email!
Also, if you still have some gift shopping to do, why not gift your friends and family something that celebrates Nevada. Travel Nevada has provided this great Nevada Pride Shopping Guide to get you started.
Have a wonderful rest of your year and keep an eye out in your inbox for our newsletter in January.
|First Day of the 2023 Legislative Session begins
|February 6, 2023
until the 82nd Nevada Legislative Session begins.
Gov.-elect Joe Lombardo and Nevada lawmakers will have $11.4 billion in projected tax revenues to construct the next two-year general fund budget covering July 2023-June 2025, marking a nearly $2.3 billion increase over the current two-year budget set in 2021.
The Economic Forum projects a 2.9% increase in state tax revenues over the next two years, beginning July 2023. The major increase in the size of the budget was driven by soaring collections from sales and gaming taxes, which have boomed amid an ongoing period of high inflation and relatively strong consumer spending.
Nevada announces winners of provisional cannabis lounge licenses
This week, the Cannabis Compliance Board awarded 20 entities with “prospective” independent consumption lounges, including 10 “social equity” applicants. These applicants were chosen through a random selection process out of a pool of 80 submitters.
The Washoe County School Board has appointed Alex Woodley as the next trustee for District E, which covers the northwest section of Reno and parts of Lemmon and Panther Valleys. Woodley was sworn into office right after the votes were tallied Tuesday at a special board meeting. Woodley emerged as the favorite after the six trustees participated in a ranked-choice voting-like system.
Woodley is replacing former Board President Angie Taylor, who was recently elected to the Nevada Assembly. Woodley will serve out the remainder of Taylor’s term, which ends Jan. 5, 2025.
On Wednesday, President Joe Biden announced that he would designate the Avi Kwa Ame monument through a proclamation.
The proposed Avi Kwa Ame National Monument will protect sacred land and connect sensitive desert landscapes, spanning from the Mojave National Preserve in California to the Lake Mead National Recreation Area. Avi Kwa Ame, or Spirit Mountain, is considered a spiritual center and a sacred area for 10 Yuman-speaking tribes, in addition to the Hopi and Chemehuevi Paiute.
San Diego-based Elevation Entertainment submitted plans to the City of Reno for a 200-room hotel-casino to be constructed on a long-touted but still empty 20-acre site near the Reno-Sparks Convention Center, at the intersection of South Virginia Street and Kietzke Lane.
The project carries the working title of Firecreek Crossing Resort-Casino, which incorporates the name of the neighboring retail and entertainment complex. The developer said the project’s cost is being determined. The plans include a 65,000-square-foot casino, restaurants and an outdoor pool deck atop the hotel tower. They hope the city can approve the project by next summer, with construction beginning in 12 – 18 months.
Another change in ownership on the Las Vegas Strip. Vici Properties is set to become full owner of the MGM Grand Las Vegas and Mandalay Bay Resort and Casino real estate, following its acquisition of the remaining interest in the properties from Blackstone Real Estate Income Trust.
Gaming real estate investment trust Vici currently holds 50.1% interest in the joint venture, which it shares with BREIT, that owns the MGM Grand Las Vegas and Mandalay Bay properties. Through this deal, Vici will acquire BREIT's 49.9% interest in the joint venture for a cash consideration of roughly $1.27 billion. It also will assume Blackstone's pro-rata share of existing property debt. The deal values the properties at $5.5 billion and represents another step in the ownership of these Las Vegas Strip properties.
Nevada Attorney General Aaron D. Ford announced that Nevada entered two additional opioid litigation settlements, bringing in tens of millions of dollars to assist with abating the opioid crisis in the state. Nevada will receive $32.2 million from a multistate settlement with Walmart and $1.5 million from a settlement – not negotiated as part of a multistate deal – with American Drug Stores. In addition, the Mallinckrodt bankruptcy plan has been finalized, resulting in $1.8 million for Nevada.
This week, Governor Sisolak and the Nevada Housing Division announced the final awards for the $500 million Home Means Nevada affordable housing initiative, completing the singe-largest investment into affordable housing seen by the state.
This program was initially launched in April. The full is of awardees can be viewed at the link above.
2023 Legislative Session Resources
Click here to view a list of Bills for the upcoming 2023 Legislative Session.
Click here to view the list of Bill Draft Requests (BDRs) for the upcoming 2023 Legislative Session.
Click here to view the list of Senate and Assembly Committees.