Sign Up
AB 582 Nevada Assembly · 2025 Regular Session

Revises provisions relating to the Governor Guinn Millennium Scholarship Program. (BDR 31-1226)

AB 582 increases the maximum percentage of funds that can be used for the Governor Guinn Millennium Scholarship Program’s administration from 3% to 13% of Nevada’s anticipated annual revenue from tobacco settlement agreements. This change directly affects the program’s operational funding, allowing the State Treasurer to allocate more resources toward administering the scholarship. The bill amends Nevada Revised Statute 353B.350 to clarify that the "Trust Fund" referenced for these expenditures is the Millennium Scholarship Trust Fund. The policy change takes effect July 1, 2025, with no impact on local government.
Issues: ✓ Budget & TaxesSupports Budget & TaxesIncreases administrative funding allocation for scholarship program by raising max admin spend from 3% to 13% of tobacco settlement revenue, directly strengthening program fiscal management.92% confidence ✓ EducationSupports EducationIncreases admin funding for scholarship program (13% vs 3%), directly enhancing educational access and program effectiveness per Nevada Revised Statute 353B.350.92% confidence
Bill status signed all 4 stages cleared
Introduction
May 2025
Committee Review
May 2025
Assembly Passage
May 2025
Signed into Law
Jun 2025
Introduced May 14, 2025 Signed Jun 5, 2025
Maddy AI version diff · 1 comparison

What changed between versions

As Introduced → As Enrolled · 5 edits · Jun 5, 2025
MODERATE
This bill increases the maximum amount the State Treasurer can spend from the Endowment Account to administer the Governor Guinn Millennium Scholarship Program from 3% to 13% of anticipated tobacco settlement revenue. It also clarifies that the 'Trust Fund' referenced in this context is specifically the Millennium Scholarship Trust Fund. The bill maintains existing provisions for administrative and marketing costs while adding new categories for financial education programs.
Scope change
The bill expands the allowable expenditure limit for scholarship program administration while clarifying the specific trust fund reference for these expenditures.
FISCAL

Increased the maximum expenditure limit for administering the Governor Guinn Millennium Scholarship Program from 3% to 13% of anticipated annual tobacco settlement revenue.

DEFINITION

Clarified that the 'Trust Fund' referenced for scholarship program expenditures is specifically the Millennium Scholarship Trust Fund.

REQUIREMENT

Added new provision allowing expenditure of up to 10% of Endowment Account funds for financial education programs, including Nevada ABLE Savings Program administration and financial literacy initiatives.

Added provision allowing expenditure of up to 7% of Endowment Account funds for marketing costs related to higher education prepaid tuition and college savings programs.

TECHNICAL

Changed bill formatting from 'As Introduced' to 'As Enrolled' version with updated session information and removed committee reference materials.

Floor votes · Assembly May 27, 2025

How they voted

40–0
Passed
Total votes 40
May 27, 2025
D Democratic26
26 Yea
100% Yea
R Republican14
14 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
10
Key actions
7
Committee
3
Jun 5, 2025
Signed into law
Approved by the Governor.
executive
May 30, 2025
Lower · Passed
In Assembly. To enrollment.
lower
May 29, 2025
Lower · Passed
Read third time. Passed. Title approved. (Yeas: 20, Nays: None, Excused: 1.) To Assembly.
lower
May 28, 2025
Lower · Passed
From committee: Do pass. Placed on Second Reading File. Read second time.
lower
May 27, 2025
Lower · Passed
Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate. In Senate. Read first time. Referred to Committee on Government Affairs. To committee.
lower
May 26, 2025
Lower · Passed
From committee: Do pass. Placed on Second Reading File. Read second time.
lower
May 15, 2025
Lower · Passed
From printer. To committee.
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.