Section 360.695 - Adjustment of allocation to local government or special district after decrease in population and assessed valuation of taxable property1. If the population and assessed valuation of the taxable property, except any assessed valuation attributable to the net proceeds of minerals, within a local government or special district has decreased in each of the 3 fiscal years immediately preceding the current fiscal year, the Executive Director shall review the amount allocated to the local government or special district from the Account pursuant to NRS 360.680, to determine whether to adjust the allocation. The local government or special district may submit information to assist the Executive Director in making a determination. If the Executive Director determines that an adjustment to the allocation of the local government or special district is necessary, the Executive Director shall submit his or her findings on the matter to the Committee on Local Government Finance.2. The Committee on Local Government Finance shall review the findings submitted by the Executive Director pursuant to subsection 1. If the Committee determines that an adjustment to the amount allocated to the local government or special district pursuant to NRS 360.680 is appropriate, the Committee shall submit a recommendation to the Nevada Tax Commission that sets forth the amount of the recommended adjustment. If the Committee determines that the adjustment is not appropriate, that decision is not subject to review by the Nevada Tax Commission.3. The Nevada Tax Commission shall schedule a public hearing within 30 days after the Committee on Local Government Finance submits its recommendation. The Nevada Tax Commission shall provide public notice of the hearing at least 10 days before the date on which the hearing will be held. The Executive Director shall provide copies of all documents relevant to the adjustment recommended by the Committee on Local Government Finance to the governing body of each local government and special district that is located in the same county as the local government or special district that is subject to the recommended adjustment.4. If, after the public hearing, the Nevada Tax Commission determines that the recommended adjustment is appropriate, it shall order the Executive Director to adjust the amount allocated to the local government or special district pursuant to NRS 360.680.Added to NRS by 1999, 1091; A 2013, 3114Amended by 2013, Ch. 495,§2, eff. 11/25/2014, only if pursuant to Section 1 of Article 16 of the Nevada Constitution, the provisions of SJR 15, which were proposed, agreed to and passed by the 76th Session of the Legislature and published as file number 44, Statutes of Nevada 2011, and which were also agreed to and passed by the 77th Session of the Legislature, are approved and ratified by the voters at the general election on 11/4/2014.Added to NRS by 1999, 1091