AG asked whether $10 million state fund can be used to entice firms into Nevada

The state Economic Development Commission has formally asked the state Attorney General’s Office for an opinion on whether the use of a catalyst fund to entice companies to relocate or expand in Nevada is constitutional.

Lt. Gov. Brian Krolicki, who chairs the commission, encouraged the board to seek the opinion in a discussion Tuesday on the implementation of Assembly Bill 449, which overhauls the state’s economic development strategy.

The commission is in the middle of a one-year transition from existing policy to the new one that is part of the bill approved in the 2011 legislative session.

The new law places economic development policy under a newly formed nine-member Board of Economic Development from the existing commission.

By Richard N. Velotta

Full Story: http://www.vegasinc.com/news/2011/oct/19/ag-asked-whether-10-million-state-fund-can-be-used/