Nevada legislature approves $8.5B budget for fiscal years 2026 and 2027

The Nevada Assembly Committee on Ways and Means has unveiled a significant budget proposal, marking a 21.5% increase in general fund appropriations for the 2025-2027 biennium. The proposed budget totals approximately $8.55 billion, reflecting a rise of $1.51 billion compared to the previous biennium. This ambitious financial plan aims to bolster state operations and infrastructure, with a particular focus on health and education.

Key highlights from the budget include $4.21 billion allocated for fiscal year 2026 and $4.34 billion for fiscal year 2027, which will support essential state services. Notably, the Nevada Health Authority is set to receive dedicated funding, emphasizing the state's commitment to healthcare improvements.

Highway funding is also on the rise, with appropriations of $198.3 million for fiscal year 2026 and $201.7 million for fiscal year 2027, marking a 19% increase from the last biennium. This funding is crucial for maintaining and improving Nevada's transportation infrastructure.

The budget proposal includes provisions for various carryover funds, allowing for flexibility in spending across fiscal years. Additionally, new language has been introduced to establish a minimum wage of $16 per hour for direct care workers, ensuring fair compensation in the healthcare sector.

As the committee continues to refine the budget, the implications of these financial decisions will be closely monitored, particularly regarding their impact on state services and the economy. The next steps will involve further discussions and potential adjustments before the final budget is approved.