A proposed two-year budget submitted today by outgoing Gov. Steve Sisolak includes pay hikes for state employees, billions more dollars for education, investments in mental health and state facilities and seed funding for an affordable housing loan fund.
The budget covers 2023-2025 and will be handed off to, and potentially changed by, incoming Gov. Joe Lombardo before it is submitted for the 2023 legislative session.
The executive budget uses revenue projections provided by the Economic Forum, which on Dec. 5 forecast $11.4 billion in tax revenue over the next fiscal biennium.
The governor’s office released a list of budget highlights that include:
- A 10% pay raise for state employees in the first year of the biennium, and close to a 5% pay raise the second year, along with a $1,250 per year retention benefit. The pay boosts are intended to offset increases in PERS and bring state salaries more in line with the private sector.
- $8.2 billion for schools through the pupil-centered funding pot. The governor said he hopes districts will use some of the funds to increase teacher and staff salaries and reduce class sizes.
- $100 million to fund an affordable housing revolving loan program.
- $1 billion in capital improvements to state facilities such as higher education buildings, National Guard training facilities, state parks and deferred maintenance projects.
- More than $50 million for state mental health facilities including crisis stabilization centers in southern Nevada and supportive housing units in northern Nevada.
- $157 million to support child welfare programs, foster care and support homes for children.
- An unspecified investment in the Nevada Clean Energy Fund.
In a statement following the Economic Forum’s forecast, Joe Lombardo said, “I look forward to making my administration’s budget priorities fit within these projections while still acting fiscally responsible and saving money for a rainy day.”
Source: Nevada Governor’s Office
