Posts Tagged ‘kate marshall’

Nevada Prepaid Tuition Program Open Enrollment Period Begins

By Nevada News Bureau Staff | 2:29 pm November 29th, 2011

CARSON CITY – The 2012 open enrollment period for Nevada’s Prepaid Tuition Program starts Thursday and runs through Feb. 28, 2012, the state Treasurer’s Office announced today.

Since its inception, 14,120 Nevada Prepaid Tuition contracts have been purchased by Nevadans.

“The Nevada Prepaid Tuition program enables parents, grandparents, and other family members to lock in future college tuition rates at today’s prices,” said state Treasurer Kate Marshall. “Our theme, ‘Their Dream, Your Promise, Our Plan,’ is designed to encourage parents to plan for their child’s future college education needs. Like many things, the cost of attending college continues to rise. The Nevada Prepaid Tuition Program provides families with the opportunity to meet future tuition costs at today’s lower rates.”

Courtesy of the Nevada State Treasurer's Office.

The Treasurer’s Office website has an on-line registration process to make signing up even easier that will be available beginning Thursday. From newborns to ninth graders, parents have a variety of options to participate in this program. Parents can pay a lump sum, spread the payment out over five years with 60 equal payments, or pay each month from the time of enrollment until the child is ready to start college.

The program is fully transferable to private or public out-of-state colleges and universities, and may be transferred to another family member, including a first cousin. The program also offers a gift option that can be used by other family members and friends to give the gift of a college education.

“The program is especially affordable if parents begin an account for newborn children, with plans starting as low as $36 a month,” Marshall added. “The earlier you open an account, the lower the overall cost.”

The number of Nevada Prepaid Tuition accounts rose by 15 percent in the 2011 open enrollment period, and saw a 26 percent increase in 2010.

The Treasurer’s Office is also sending Nevada Prepaid Tuition Program brochures to all elementary school children throughout the state with the assistance of the Nevada Department of Education and the individual school districts and schools. Staff has also attended back to school fairs, counselor meetings, and other events to distribute information about the program.

Nevada Saves $6.3 Million In Successful Bond Sale, Holds On To AA Credit Rating

By Nevada News Bureau Staff | 12:35 pm November 16th, 2011

CARSON CITY – Nevada Treasurer Kate Marshall announced today that her office has completed a series of bond sales that will net the state a total face value of $149.4 million, with $32 million going for capital improvement projects and the remaining $117 million to be used for the refunding of existing state obligations.

Nevada State Treasurer Kate Marshall.

“Nevada taxpayers saved $6.3 million as a result of a successful new marketing and investor outreach program,” Marshall said.  “We personally met with potential investors, provided an ‘internet roadshow’ and developed a specific State of Nevada bond sale website to generate greater interest in the market for Nevada bonds.

“In addition, Nevada maintained its ‘AA’ credit rating, which is critical during these trying economic times, as it saves the state and its taxpayers millions of dollars in borrowing costs,” she said. “In keeping the state’s ‘AA’ credit rating, the rating agencies relied upon Nevada’s ‘strong and prudent financial management’ as a key component for preserving our present credit rating.”

All three rating agencies – Fitch, Moody’s and Standard & Poor’s – kept Nevada’s credit outlook as “stable.”

In all, six bond series were included in the sale. The capital improvement project funding will be provided to state agencies for construction projects, including the Department of Conservation and Natural Resources to fund safe drinking water projects. The savings achieved through the refundings will be used to increase the state’s bond reserves.

Nevada Capital Investment Corporation Board Appointed, Will Meet For First Time Tuesday

By Sean Whaley | 3:50 pm October 7th, 2011

CARSON CITYState Treasurer Kate Marshall today announced the appointees to the board of the Nevada Capital Investment Corporation (NCIC), a new group charged with overseeing the investment of school funds to improve returns while promoting economic development statewide.

Gov. Brian Sandoval appointed Jim DeVolld, former president and CEO of the First Independent Bank of Nevada; Senate Majority Leader Steven Horsford appointed Jerrie Merritt, senior vice president of the Bank of Nevada; Senate Minority Leader Mike McGinness appointed Chris Howard, Northstar Investors principal and the director of entrepreneurial initiative at the University of Nevada, Reno; Assembly Speaker John Oceguera appointed David Goldwater of David Goldwater Consulting; Assembly Minority Leader Pete Goicoechea appointed James York, president and CEO of Valley Bank of Nevada; and Nevada System of Higher Education Chancellor Dan Klaich appointed Robert Lind, managing director for Berkshire Bridge Capital LLC.

Marshall will serve as the chairwoman of the nonprofit board, which will meet for the first time Tuesday. The board was created as the result of the passage of Senate Bill 75 during the 2011 legislative session.

Nevada State Treasurer Kate Marshall.

“We are extremely excited about beginning Nevada’s first ever private equity investment fund with such an esteemed group of appointees at the helm,” Marshall said. “We will set as aggressive a timeline as possible so the state can begin to see the benefits of Senate Bill 75 for our schools and for economic development moving forward in Nevada.”

The primary goal of the board will be to increase the rate of return on the money in the state’s Permanent School Fund. But it will also work to promote job creation and economic development by investing the money in business development. The new law allows the board to invest up to $50 million from the trust fund in the economic development efforts.

The Permanent School Fund was previously invested only in U.S. government securities that generated a return of less than 1 percent. The new law allows the investment of non-tax dollars in the fund in new businesses in Nevada, in existing businesses that are expanding, or in businesses which agree to relocate to this state.

In hearings on the bill sought by Marshall’s office, it was noted that 11 other states already had the authority to invest their funds in more diverse ways.

The Permanent School Fund is a trust fund made up of federal funds provided to the state for decades from such sources as the sale of federal lands and court fees. It is a trust fund worth about $300 million that can’t be spent, only invested.

The new board is charged with a variety of responsibilities, including contracting with a private industry fund manager who will be responsible for the development of an investment plan for approval by the board, selection of private equity firms that will invest in Nevada businesses, for providing mentoring and networking opportunities for Nevada entrepreneurs, and for developing a collaborative partnership between Nevada System of Higher Education institutions, investors, and private industry.

Marshall said Nevada is following the lead of most western states in allowing for a more diverse approach in vesting money from the school fund.

“Evidence shows that these balanced, diversified portfolios are realizing greater returns, which in Nevada’s case will ultimately result in more money for Nevada K-12 schools,” she said. “Further, by establishing a first of its kind fund in Nevada’s history, we’ve created a mechanism for providing private equity investments in Nevada that will help stimulate economic growth and employment, without risking tax dollars.”

In Case You Missed It: The Week in Nevada Politics

By Elizabeth Crum | 3:24 pm September 9th, 2011

These “ICYMI” posts are getting quite a few hits so I guess you like them, Dear Readers. Here’s this week’s round-up (plus a few from before the holiday weekend):

Presidential Race

My three cents on the President’s speech Thursday night.

Magellan’s 9/2 survey had Gov. Rick Perry up over Gov. Mitt Romney by 5 points (29-24 percent) in Nevada. Herman Cain, Rep. Bachman and Rep. Paul all came in at 6 or 7 percent.

Romney rolled out his economic and jobs plans in North Las Vegas this week. Can a visit from Perry be far behind?

Special Election in CD-2 (September 13)

State Senator Mark Amodei’s says he’d be “honored” to have your vote in his final television ad of the campaign.

State Treasurer Kate Marshall has been walking a tightrope as she runs as a Democrat in a conservative district, but Steny Hoyer’s visit cleared things up a bit.

The two underdog candidates fight on.

Reuters reports.

U.S. Senate Race

Rep. Berkley did not heart this story in the New York Times. The Las Vegas Sun sees nothing wrong. Steve Sebelius says she should have abstained. Jon Ralston says either way, it spells trouble for her campaign.

Dean Heller AGAIN demanded transparency from the so-called debt-cutting SuperCommittee via his fourth press release on the issue.

Congressional Delegation (and Hopefuls) in the News

Rep. Joe Heck gets heckled at a panel on job creation.

Does Sen. Harry Reid always get what he wants? Maybe not, but he can still do stuff like this.

The Washington Post fact checks a Reid job claim related to the FAA bill.

Dina Titus is not letting the lack of district lines stop her from putting together a great money team for her congressional run…somewhere.

Cities and Counties

A Clark County union negotiating expert says the SEUI is bargaining in bad faith. The county wants the Local Government Employee Management Relations Board to compel the union to meet more often and bargain in good faith. The SIEU responded calling the claim “disingenuous” and the complaint “frivolous.”

The Clean Water Coalition is shutting down but at least someone in the state has some money.

As first reported by me on Twitter, some folks in North Las Vegas are going to try to recall Mayor Shari Buck. But only 50 signatures were collected Tuesday at their kick-off rally.

Miscellaneous

Is the Nevada GOP finally getting its organizational act together such that it can inflict pain on the Democrats in 2012? The dean of Nevada politics says maybe.

The Nevada Supreme Court opened its fall term with a hearing on a freedom of speech argument by a political advocacy group.

A complaint against Bank of America was filed recently by Attorney General Catherine  Cortez Masto. She and many state AGs also signed a strongly worded letter of concern/complaint (and asks questions “in lieu of a subpoena”) against an alleged sex trafficking website.

Ralston blasts the state teachers’ union for its “report card” on lawmakers.

DOT is contemplating an Railroad Rehabilitation and Improvement Financing Act (RRIF) loan of $6 billion to the DesertXpress project.

 

CD2 Candidates Battle Over Tax Policy, Solutions for the Economy

By Anne Knowles | 7:14 am August 26th, 2011

Helmuth Lehmann and Tim Fasano were caught in the crossfire last night as Mark Amodei and Kate Marshall threw rhetorical punches at one another during an hour-long debate between the four candidates for Nevada’s second congressional district.

Former state Sen. Mark Amodei responds to a question at the debate./Photo: Sean Whaley, Nevada News Bureau

The former state senator and current state treasurer stood on opposite ends of the podium trading jabs about taxes and jobs for much of the live debate held in Reno’s KNPB TV studio and broadcast statewide.

Democratic candidate Marshall proposed offering tax breaks to companies who create jobs and endorsed a so-called infrastructure bank, an idea also promoted by President Barack Obama, which would lend money to private companies to rebuild the nation’s infrastructure. She used the topic to chide her Republican opponent.

“It has bipartisan support unless, of course, you signed the tax pledge, then you’re not supportive of that bipartisan piece of legislation,” said Marshall. “In order to come together you have to not box yourself in a corner you can’t sign a tax pledge which has Grover Norquist telling you when and whether you’ll raise taxes.”

Amodei recently re-signed a pledge not to raise taxes if he were elected to Congress, a pledge promulgated by Americans for Tax Reform, a Washington-based advocacy group headed by Grover Norquist.

“I think it signals a willingness to acknowledge the facts. Compromise is not spending 40 cents of every dollar on debt. Compromise is not running up the debt until it equals the GDP, ” said Amodei when asked earlier in the debate whether signing the pledge signaled his unwillingness to compromise. “It’s not being intractable, it’s recognizing we cannot tax your way out of this.”

For his part, Amodei rebuked Marshall for latching onto loan guarantees made to private enterprises by the federal government.

“We need to start telling the people the truth,” said Amodei when asked what he would do to restore confidence in Congress. “How maybe loan guarantees aren’t a good thing. Remember the ones to Chrysler and General Motors?  They cost the taxpayer. Remember the ones to AIG and some of the Wall Street folks.”

Amodei, like Marshall, repeated ideas he’s been touting on the campaign trail to solve the state’s economic woes. He talked about expediting the process for permits to use public lands and, on a national level, suggested a hiring freeze for the federal government.

Amodei said 85 percent of the land in Nevada is publically-owned and should be better utilized for ranching, mining and energy resources in order to create jobs, but permits to use the land can take up to 10 years to acquire.

“The processing times are phenomenally slow to the point where we are de facto closed for business,” said Amodei.

When the candidates were asked when they disagree with their own party, Amodei said his party over the last couple decades has sometimes lacked courage.

“Not having the courage to say we don’t need special healthcare for members of Congress, that we don’t need a special bank for member of Congress,” said Amodei. “There’s a good bunch of people serving there, but the culture has overtaken.”

Nevada State Treasurer Kate Marshall

Marshall said she parts way with the Democratic party on the so-called Bush tax cuts, reductions in the tax rate passed under President George W. Bush that are set to expire at the end of the year.

“I think we need to keep the Bush tax cuts,” said Marshall, saying that small businesses needed the cuts to create jobs.

Only Lehmann, a non-partisan independent, favored letting them expire, but only to raise rates on the wealthy.

The candidates also agreed that they would have not voted to raise the nation’s debt ceiling, but for varying reasons. Lehmann said he is opposed to the balanced budget amendment that was attached to the bill.

“I think it’s a ruse to make people believe that Congress is actually doing something,” said Lehmann.

Fasano, the Independent American Party candidate, said he wouldn’t have voted for it either.

“We have a problem in government and that problem is spending,” said Fasano.

Marshall said she was opposed to the deal because it cut defense spending and Medicare and didn’t close tax loopholes.

“It was the wrong priorities and those are not my priorities,” said Marshall.

Amodei said that he would have voted no because Washington needs to learn spending discipline.

Early voting for the special election to fill vacant seat starts on Saturday. The election is Sept. 13.

 

ICYMI: Mid-Week Political Round Up

By Elizabeth Crum | 1:35 pm August 24th, 2011

This “In Case You Missed It” feature was supposed to be a weekend thing, but I’ve got so many browser tabs open, I guess it is going to be semiweekly. Get caught up, Dear Readers. And comment below.

Special Election (September 13, 2011)

Ralston hosted a televised debate between Kate Marshall and Mark Amodei. Part One. Part Two. Or read our story on it.

KTNV has the early voting locations and schedules in Clark County.

Politico looks at all the lobbed bombs at Obama by the GOP.

A reporter at the conservative news site Washington Examiner writes about how (he thinks) Amodei could lose. Among other things, he cites a Public Policy Polling survey commissioned by DailyKos. Today, the same reporter heaped more coals by writing about Amodei’s changed position on the Ryan budget.

Both Amodei and Marshall tout positive reviews by the National Rifle Association.

The Marshall campaign launched a pretty scathing ad against Amodei. The NRCC continues to run equally scathing ads against Marshall (they have now spent over $500,000 on TV spots). Gloves are definitely off in this race as early voting approaches.

Amodei signed the tax pledge. Again. And American’s for Tax Reform defend the pledge on the subject of loopholes. The issue was raised by Marshall in criticisms of Amodei.

Anjeanette Damon recently questioned Amodei on tax issues on her show To the Point. When he said he had a consistent record on taxes as well as a record consistent with the tax pledge, she asked him if was fair to say he was consistent in his inconsistency.

Ralston discovered (and Tweeted) that this is not, after all, the first special House election in Nevada’s history. D.R. Ashley (R) won his with 3,691 votes back in in 1865. Fun stuff.

U.S. Senate

Political opponents Sen. Heller and Rep. Berkley work together (sorta) on the debt committee issue in D.C.

Rep. Shelley Berkley wants women in Reno to know what she has done for them. Ditto, Native Americans. She is clearly trying to win hearts and minds in northern Nevada.

Berkley spent some time in Carson City this week, too.

Heller commented. He also said he thinks Judge Russell should have disclosed his relationship with Mark Amodei in the CD-2 special election court case.

GOP Presidential Race

Romney is going to roll out his jobs plan in (you guessed it) Nevada on Labor Day weekend. Ann Romney was here this week.

@RalstonFlash Tweeted earlier this week that Rick Perry is talking to Mike Slanker (and I am sure others) about getting a ground game going here.

FiveThirtyEight did some interesting graphics on the GOP field.

Miscellaneous & Sundry

Anjeanette Damon wrote a fun piece on the many mock Twitter accounts in Nevada politics. (Are you following me on Twitter yet, peeps? @elizcrum )

Rep. Joe Heck chimed in on Libya. Earlier in the summer, he introduced a bill to pull the U.S. out of the NATO mission in Libya by cutting off funding.

Heck’s House race next year (we do not yet know who will challenge him) is anticipated to be one of the toughest in the land.

I am hearing there is an effort afoot to recall North Las Vegas Mayor Shari Buck. A group will file the necessary kick-off papers on September 7, if the energy doesn’t fizzle by then.

Sue Lowden recently spoke in Laughlin. She reflected on what she would have done differently in last year’s U.S. Senate primary (“I guess I would have tried harder to win over the vote of the Tea Party group”) and said she does not rule out a future run.

State Sen. Ruben Kihuen spoke to the AFL-CIO in Reno and was on AD’s show this week, but still has not announced that he is running for Congress next year.

You can track the Tweets of Nevada legislators on this page. Bookmark it, maybe.

 

County Clerks On Turnout in CD-2 Special: “Most People Don’t Even Know There is an Election Coming Up”

By Elizabeth Crum | 10:44 am August 23rd, 2011

Just how low will voter turnout be in the special election for Nevada’s second congressional district? The consensus of a handful of county clerks is that it is unlikely to exceed 25 percent, could be even lower and/but is really “anybody’s guess”.

“The fact is, most people don’t even know there is an election coming up,” said the Nye County clerk’s office. Other clerks agreed.

One indicator may be the low number of absentee ballots being requested. Douglas County reports around 350 absentee ballots requested to date. Typically, the county has received 1,000-1,500 absentee ballot requests by the time early voting starts.

Although Douglas County is generally known for high turnout numbers, the clerk’s office agreed that “very few people know about this election.”

In Washoe County, where over half the voters eligible to cast ballots in the election reside, about 3,600 absentee ballots have been requested so far. The number is usually closer to 12,000 in a primary and 25,000 in a general election.

The presence of television ads by the candidates’ and national parties may elevate turnout in Washoe County, but even so the clerk’s office estimates it at 25 percent to “the high twenties, even if things heat up.”

Senator James Settelmeyer said he expects turnout in Douglas County to be between 25 and 30 percent, but is not sure the counties “down south” will show as high.

“I have seen the candidates’ campaign signs here and there, and it’s funny, because usually the biggest thing on your sign is your last name. But maybe the candidates’ should have put the election date in giant numbers instead,” laughed Settelmeyer.

 

In Case You Missed It: Political Blurbs

By Elizabeth Crum | 11:52 am August 20th, 2011

Welcome to a new weekend feature here on the blog. We’ll bring you recent links, snippets, stories and Tweets you may have missed in Nevada and national politics. Enjoy. Feel free to post your own favorites in Comments.

Presidential Primary

Governor Sandoval’s name keeps popping up in stories about possible vice-presidential picks for the Republican ticket. This week Politico listed him among “the geographically and demographically ideal” along with Mark Rubio and New Mexico Gov. Susana Martinez.

This “270 to Win” interactive electoral map is fun to play with.

GOP presidential contenders are seeking Nevada endorsements. So far, Rep. Joe Heck, Lt. Gov. Brian Krolicki and nine state legislators have given Romney their nod.

CD-2 Special Election

The four candidates debated this week in Reno.

John Boehner hearts Mark Amodei. Really. And so does Mitt Romney.

Emily’s List (now over 900,000 members strong) endorsed Kate Marshall. So did the Alliance for Retired Americans.

The federal healthcare overhaul legislation is at issue on the airwaves. Amodei is linking Kate Marshall to the health care law approved by President Barack Obama and Congress, while Marshall released an ad slamming Amodei for supporting a Republican plan to privatize Medicare.

Republicans blame Marshall for Nevada’s credit rating downgrade.

AD does a fact check on the NRCC’s claim that Marshall was responsible for a huge business tax increase.

Kate Marshall chimed in (sorta) on Carson City District Judge James Todd Russell’s failure to disclose his business relationship with Mark Amodei in the special election case.

Marshall pointed out that she has raised more money than Amodei.

Americans for Prosperity commissioned a Magellan robo-poll. The survey says Amodei is up by 13 points.

Mediscare

Duck! Political canons are being fired every five minutes re: which party (or candidate) wants to kill Medicare. The latest:

– The national parties both try to control the Medicare message in the CD-2 special election race.

– Case and point:  The National Republican Congressional Committee TV ad attacking state Treasurer Kate Marshall.

– The Kate Marshall campaign responded with this TV ad claiming Mark Amodei wants to end Medicare.

– Mark Amodei’s mom defends him on the issue in this new TV ad.

Ever wonder what the truth is about rising Medicare costs? A Columbia Journalism Review reporter gives us an overview of a new Annals of Emergency Medicine report that explains.

Politifact evaluated DCCC claims that certain Republicans have voted to end Medicare.

Heller & Berkley

Medicare is an issue in this race, too.

In a June (internal) poll, Berkley was up 42-37 over Heller. The last PPP poll had Heller up over Berkley 46-43 (but within the margin of error). Most pundits are calling it a toss-up or giving a slight edge to Heller with disclaimers that it is too soon to say.

Both candidates seek the support of Nevada’s veterans who make up roughly 10 percent of the state’s population.

Dean Heller has gathered some D support for his call for debt committee transparency.

 

Education

The Clark County School District and the teachers union have reached a bargaining impasse that is “unlikely to be resolved” by Aug. 29, the first day of school.

State superintendent of schools Keith Rheault said Nevada will seek exemption from the No Child Left Behind Act after comments in which U.S. Secretary of Education Arne Duncan called the program an “impediment” and “disincentive” for educators. States can ask for relief beginning in September.

Various & Sundry

A Nevada judge fined the now defunct ACORN $5,000 for a voter-registration compensation scheme. The field operative who created and ran the incentive program is serving three years of probation. (I had fun blogging about the FBI raid on the Las Vegas ACORN office back in 2008.)

The Clark County Commission decided against packing electoral districts with minorities. The same issue is at the center of disagreements over state legislative and congressional redistricting.

Lorne Malkiewich, the longtime director of the Legislative Counsel Bureau, says he is going to retire before the beginning of the 2013 session.

Your 401(k) may in the tank, but Nevada mining company shareholders are doing well.

After push-back via recent public comment, the BLM says it is now going to evaluate the cost-benefits of that controversial pipeline project.

 

 

 

First CD-2 Debate This Week in Reno

By Elizabeth Crum | 10:28 am August 15th, 2011

Three candidates competing for Nevada’s 2nd U.S. House Congressional District seat will debate in Reno this week.

The debate, sponsored by the Truckee Meadows Post 3819 of the Veterans of Foreign Wars, will be moderated by KRNV news anchor Joe Hart.

Candidates included will be Democrat Kate Marshall, Republican Mark Amodei and Independent American Party candidate Tim Fasano.

The debate will be held at 7 p.m., Wednesday, Aug. 17 at the city’s California Building and will be broadcast by KRNV News 4 and News Talk KKFT 99.1 FM Fox News Radio.

The event is free for attendees.

Update: Independent candidate Helmuth Lehmann has been invited and is expected to participate in the debate.

Gov. Sandoval Signs Bill Aimed At Generating More Money For Schools By Investing In Economic Diversity

By Sean Whaley | 2:21 pm June 16th, 2011

CARSON CITY – A bill allowing the state Treasurer to invest up to $50 million in education trust funds to support economic diversification efforts and generate more money for public schools was signed into law today by Gov. Brian Sandoval.

Concerns had been expressed about the legality of Senate Bill 75 after it had been amended in the Senate, but Treasurer Kate Marshall said today the final version of the measure restored the original language.

“The passage of SB75 is going to result in more money for K through 12, so that we can invest the way most western states invest,” she said. “And also for the first time in the state’s history we’re going to have the ability to do private equity investments in Nevada; create jobs here.”

Treasurer Kate Marshall says SB75 will both create jobs and generate more money for public schools./Photo: Treasurer's Office

Marshall said businesses have already contacted the state because of the passage of the bill, expressing an interest in finding out more about it with an eye to possibly relocating here.

Chuck Alvey, president and CEO of the Economic Development Authority of Western Nevada (EDAWN), said several businesses in the developmental stage have inquired about the new program, which will take several months to get up and running.

The new law will provide an investment tool that other states have been using but that Nevada has not been able to offer to companies until now, he said. If a company in development can be brought to the state where it can grow from the ground up, it will more likely remain in the state and generate jobs for Nevadans, Alvey said.

“It’s a very important tool,” he said.

The bill was opposed by some Republicans over concerns about the constitutionality of the measure.

One of those was Sen. Greg Brower, R-Reno, a GOP candidate for the vacant Congressional District 2 seat. Marshall is a Democrat who is also running for the seat.

A big hurdle for the measure was the state constitutional prohibition on loaning state money to any company except a corporation formed for educational or charitable purposes. Supporters of the bill obtained a judicial determination that the proposed investments would be constitutional. But Brower and some other Republican lawmakers said the determination was insufficient to satisfy their concerns.

The new law will create a nonprofit public entity, the Nevada Capital Investment Corporation (NCIC), to be headed by a board that includes members appointed by the governor and legislative leadership based on their investment expertise. The state treasurer, whose duties include the investment of state money, would also be a member.

Marshall said the next step in the process will be to get the board appointed so the investment process can get under way.

The NCIC will hire professional private equity fund managers that will seek to partner with capital investment firms to invest in select companies and innovative start-up businesses that would assist in the state’s efforts to grow and diversify its economic base, leading to increased employment.

A Business Leadership Council comprised of business leaders and professional business development groups will also be created to provide strategic guidance and to mentor businesses which successfully compete for investment dollars.

The primary focus of the bill is to get a better rate of return for the $310 million Permanent School Fund, a trust fund made up of federal funds provided to the state for decades from such sources as the sale of federal lands and court fees. Only the interest can be spent by Nevada’s 17 school districts. About $8 million was generated for schools last year.

Marshall said the school fund is earning about 2.5 percent now. The private equity investments are expected to bring in between 4.3 percent and 7.5 percent, she said.

“The most important thing is to be fiscally prudent, to do your due diligence, to make sure you invest in companies that are going to provide you the kind of return and the kind of jobs and the kind of economic diversity we want here in Nevada while at the same time providing more money for K through 12,” Marshall said.

The new law also provides an opportunity for Nevada for the first time to be eligible for federal grant programs where debt support is made available for certain companies coming to the state, she said.

Audio clips:

Treasurer Kate Marshall says SB75 will bring in more money for public education and allow private equity investment:

061611Marshall1 :17 create jobs here.”

Marshall says the most important goal with the new authority is to be fiscally prudent:

061611Marshall2 :15 K through 12.”

District Court Judge Issues Special House Election Decision, Calls Secretary of State’s Ruling “Unreasonable” and “Absurd”

By Elizabeth Crum | 1:39 pm May 23rd, 2011

In a decision that surprised many — including the Nevada Democratic Party — a district judge last Thursday overruled Secretary of State Ross Miller’s decision to permit any qualified candidate to run in a “free-for-all” in the U.S. House race to fill Dean Heller’s recently vacated seat.

According to Miller’s interpretation of the law, “qualified” would have meant collecting 100 signatures and filing (fee free) for candidacy. However, Judge James Todd Russell last week enjoined Miller from moving ahead with ballot preparation and gave the political parties until June 30 to nominate a candidate.

Russell’s written decision, issued today, called the Nevada statutes “ambiguous” and said the GOP “would suffer irreparable harm” in a free-for-all election. The decision also said Miller relied on “a single sentence” in special election law and produced “an unreasonable and absurd result” which results in “unfair treatment.”

Russell said on Friday he based his decision on the reading of two Nevada statutes that govern special and regular elections. He said they were confusing when taken as a whole and added that the Legislature should clarify the law in order to avoid future conflicts.

The 2003 special election law (passed after 9/11 to address sudden House vacancies) says there should be no primary election, but that candidates must be nominated before filing a declaration of candidacy. However, a separate statute says the major and minor parties’ central or executive committees should nominate candidates whenever a vacancy exists.

In his comments in open court Friday, Russell said the secretary of state was “picking and choosing” portions of the law when he made his decision to allow what Miller called a “ballot royale.” Russell also said it seemed unfair to have different rules for major and minor parties (the secretary of state had said minor parties could nominate only one candidate each).

Democratic attorneys argued that Miller has the authority to set election rules and that he should be given the latitude to interpret statutes.

An appeal by Miller is expected to be filed with the Nevada Supreme Court.

The decision virtually guarantees the GOP will hold the 2nd Congressional District because it prevents a crowded Republican field and subsequent splintered vote, which would have benefitted a strong Democratic candidate (hello, Kate Marshall).

Interestingly enough, Dean Heller, whose empty House seat is now at the center of the controversy, was the Secretary of State when the 2003 legislation was passed. He should have set the rules for a special election but because he never did so, Nevada finds itself headed for a state supreme court hearing.

The GOP central committee meeting and election is currently scheduled for June 18 in Sparks, NV.

Nevada Republican Party Chairman Mark Amodei has yet to step down from his post, though he announced his candidacy and is a contender for the party’s nomination.

State Senator and former U.S. attorney for Nevada Greg Brower is Amodei’s primary competition for the GOP central committee vote. Brower has been active and aggressive in recent days with the launch of his campaign website along with email and social media messages to the Republican base and central committee members.

Several Democrats are expected to compete for the nomination to fill the House vacancy including State Treasurer Kate Marshall, Nancy Price and Jill Derby.

Here is the District Court’s decision, issued Thursday from the bench. It is only 12 pages and is fairly straightforward:

Russell_decision_5.23.11

 

Republican Congressional Candidates Speak Before Republican Women’s Group

By Andrew Doughman | 6:55 pm May 21st, 2011

CARSON CITY — It’s starting to look at lot like campaign season.

Three Republican candidates for Congressional District 2 tried to sell their candidacies to about 100 members of the Nevada Federation of Republican Women at an event at the Plaza Hotel today.

Many of the women in attendance are members of the state party’s central committee, which will nominate one candidate from a field that includes Nevada Republican Party Chairman Mark Amodei, state Sen. Greg Brower, former U.S. Senate candidate Sharron Angle and former commander of the U.S.S. Cole, Kirk Lippold.

Angle could not attend due to a scheduling conflict, but the other three spoke at the luncheon and touted conservative talking points — no new taxes, small government, fiscal responsibility — while also talking about who they are and what they can do for the congressional district.

Nevada State Republican Party chairman Mark Amodei speaks to the Nevada Federation of Republican Women, the members of which will help select the party's nominee for Congressional District 2.

Following a lower court ruling earlier this week, the Republican and Democratic parties must select a candidate for a September 13 special election. Rep. Dean Heller, R-Nev., vacated the seat after Gov. Brian Sandoval appointed him to replace outgoing Sen. John Ensign, who resigned following mounting pressure from investigations into an extramarital affair.

Secretary of State Ross Miller, a Democrat, is appealing the court’s decision. Miller has argued that Nevada law calls for what he said is a  ”ballot royale,” an election allowing on the ballot numerous candidates from each political party.

In the meantime, candidates are operating under the assumption that their own parties will select one of them. Democrats have already thrown their weight behind Treasurer Kate Marshall.

But in the Republican field, four candidates are vying for the party’s nomination. The party’s central committee members plan to meet June 18 at John Ascuaga’s Nugget in Sparks to select the candidate.

“For these few weeks, those 351 central committee members will be more popular than they ever dreamed of,” Amodei said.

Amodei spoke earlier this morning at the Nevada Truck Driving Championship in Reno, where he spoke from the bed of a truck in blue jeans and an Army windbreaker.

Speaking to about 70 truck drivers, he stressed the trucking industry’s importance to Nevada.

“We get it,” he said.

Later, wearing a suit at the Republican women’s luncheon, he cast the race as a job interview. He said he would be the best person for the central committee to “hire” as their candidate because he has the most experience with the issues of the northern Nevada district.

Amodei served in the state Senate before leaving due to term limits.

“We need an advocate to lead us in CD2,” he said.

Brower spoke to the women’s group next, touting his extensive public service — he is a former Assemblyman and a former U.S. Attorney — and playing to the crowd.

“Women’s groups really are the backbone of this party,” he said.

State Sen. Greg Brower, R-Reno, said he is the best candidate for the job, saying he's "in the trenches down here" at the Legislature everyday.

Brower, who was appointed to replace retiring Sen. Bill Raggio earlier this year, said he has the strongest conservative record.

“If I feel I am the best candidate for the job, I feel compelled to volunteer,” he said.

Lippold spoke last.

He stuck to familiar Republican mantras of personal responsibility and fiscal restraint while also highlighting his record on defense.

Breaking from the views of some Republicans, he said legislators need to scrutinize how money is spent at the Department of Defense.

“The Department of Defense is not working with the same efficiency and effectiveness as they used to,” he said.

During the next month, the candidates will have to convince central committee members that their personal traits, political philosophy and professional style should earn them the nomination.

“I don’t think anybody is going to come to you and say Obamacare is just right,” Amodei said. “We know what’s going on here.”

 

 

Krolicki Out, Marshall In, Amodei Pending

By Elizabeth Crum | 2:15 pm May 5th, 2011

As first “guessed” by @RalstonFlash on Twitter this morning — Nevada has learned the hard way that Ralston’s guesses are not mere speculation but informed fact — Lt. Gov. Brian Krolicki has formally announced that he is not going to run for Nevada’s open congressional seat.

State GOP chairman Mark Amodei will now be free to make his final decision, probably to jump in.

The success of the GOP’s lawsuit against the Secretary of State re: the special election rules is Amodei’s best shot at the congressional seat. The central committee would almost certainly nominate him now that Krolicki is out of the picture. However, in an an open election, Amodei is by no means a lock because he is not a favorite with much of the conservative base (due, among other things, to the 2003 tax hike in which he participated).

If the GOP lawsuit fails, as many on both sides of the aisle think it will, the man with the next best shot to win the hearts and minds of Republican voters is probably state Senator Greg Brower — IF he can convince enough of the GOP base that he is not an “establishment” candidate. If he cannot, then former U.S.S. Cole Cmdr. Kirk Lippold might be able to take advantage of the situation (and we can expect Lippold’s campaign to paint both Brower and Amodei as career politicians while pitching their guy as a military hero, conservative family man, and voice of the people).

As for the Democrats, State Treasurer Kate Marshall is in (also first Tweeted by Ralston, yesterday). It remains to be seen whether any other serious Dem contenders take a shot at it.

 

 

 

 

 

Dem Mailer Attacks GOP Candidate for State Treasurer

By Elizabeth Crum | 8:20 pm October 31st, 2010

This rather nasty mailer from the state Democratic party was received at some Nevada households this weekend, two days before the elections in a race the latest Mason-Dixon poll says is tied 39-39 percent:

Here is a close up of the text:


And:

You can read our e-interview with Steve Martin on the front page here.

Treasurer Marshall did not respond to our interview request.

Drop your comments below.

Nevada State Treasurer, Opponent, Trade Jabs In Televised Debate

By Sean Whaley | 8:44 pm October 11th, 2010

Republican state treasurer candidate Steve Martin faced off against Democratic incumbent Kate Marshall in a debate Monday, with Martin continuing to criticize his opponent for failing to fully disclose details of a $50 million failed 2008 investment.

Marshall countered that she fully disclosed the loss with the September 2008 bankruptcy filing by Lehman Brothers and rejected any suggestion by Martin that she should have been aware of the impending failure of the firm that cost states and local governments $3 billion nationwide.

Martin took the opportunity during the debate on Jon Ralston’s Face To Face television program to correct the suggestion that he had lost money for his private clients with the Lehman Brothers collapse, a claim made by Marshall and her staff.

Martin said he was not providing investment advice at the time and so could not have lost his clients any money.

Marshall emphasized her leadership in her first term as treasurer and rejected Martin’s criticisms that she misled the Legislature about the financial status of the Millennium Scholarship program or mismanaged the office’s unclaimed property fund.

An audit of the unclaimed property fund did identify areas that needed to be fixed, but she said: “I think the first paragraph of the audit says it all, it says that our office has done a phenomenal job.”

Martin, a certified public accountant, also said he is better qualified to serve as treasurer given his financial background versus Marshall, who is an attorney.

Martin again emphasized the $50 million Lehman loss and the failure of Marshall to be up front about it.

“If they say they have transparency in the office, why did the report that was filed in 2009 make no mention of Lehman Brothers,” he asked. “Why in June of 2010 did the treasurer request an attorney general’s opinion that said we couldn’t talk about this at the Board of Finance meeting.”

Martin also asked why the next Board of Finance meeting was delayed until after the Nov. 2 general election.

Marshall countered by saying she disclosed the Lehman loss the day after the company filed for bankruptcy. The loss to the state may now be less than $50 million because Lehman Brothers is now profitable, she said.

“First off I think it is dishonorable to say that I should have known when my opponent admits his own clients lost money on Lehman’s, so I find that a disingenuous statement,” she said.

Martin said Marshall’s comment is in error.

“Well let’s correct the record right now,” he said. “None of my clients lost money in the stock market. Absolutely none. That is twice your office has accused me of having said that. It is absolutely incorrect.”

Audio clips:

GOP treasurer candidate Steve Martin says Marshall has not been open about the Lehman loss:

101110Martin1 :16 of Finance meeting.”

Marshall says Martin should not criticize her office on Lehman because  his clients lost money:

101110Marshall1 :10 a disingenuous statement.”

Martin says Marshall’s claim he lost his clients money is false:

101110Martin2 :17 is absolutely incorrect.”

Marshall says audit on unclaimed property says her office has done a great job:

101110Marshall2 :05 a phenomenal job.”