Nevada Revised Statutes Title 31. Public Financial Administration § 354.725. Severe financial emergency: Termination or modification of management of local government on motion of Nevada Tax Commission or at request of local government or Committee on Local Government Finance

1. The Nevada Tax Commission may, on its own motion or at the request of a local government or the Committee, terminate the management of a local government by the Department at any time upon a finding that the severe financial emergency has ceased to exist.

2. The governing body of a local government which has complied with all requests made by the Department pursuant to NRS 354.695 may petition the Nevada Tax Commission for termination or modification of the management of the local government by the Department or of any request made by the Department pursuant to NRS 354.695.

3. The Commission shall not terminate or modify the management of a local government pursuant to subsection 1 or 2 without first obtaining a recommendation from the Committee as to the termination or modification.

4. The Nevada Tax Commission shall provide notice, a hearing and a written decision on each such petition.

5. In determining whether a condition of severe financial emergency should be terminated, the Nevada Tax Commission shall give consideration to the following:

6. The Nevada Tax Commission may require the governing body to submit special reports to the Department for a period not to exceed 5 years as a condition of terminating the management of the local government by the Department.

7. When a petition relating to a specific request is denied, the governing body may not resubmit a petition to terminate or modify that request until 3 months following the date of denial.