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Nevada draft rule would require candidates to report bank interest on campaign filings
Summary
Deputy Secretary of State Mark Velaschin said the draft regulation (LCB R002-26P) clarifies that accrued bank interest in campaign accounts must be reported on contribution and expense reports; no callers provided public comment during the workshop.
Deputy Secretary of State Mark Velaschin said on the record that a proposed permanent regulation, now identified as LCB file R002-26P, would require candidates to report bank interest accrued in campaign accounts on their contribution and expense reports.
Velaschin framed the change as a narrow transparency measure tied to recurring candidate questions about how to report interest earned in campaign bank accounts. "It simply clarifies that if you have bank interest, you will be required to report it," he said during the workshop.
The office read the digest of the proposed change and opened public comment; broadcasting staff reported no callers and public comment on the proposal was closed with no testimony. Velaschin emphasized that this regulation is intended to implement statutory authority under NRS 293.124 and NRS 293.247 and does not change statutory law.
The Secretary of State's office said written comments already submitted have been entered into the record and that any amendments resulting from feedback would be published ahead of the adoption hearings. Adoption hearings are scheduled for Jan. 21 and Jan. 23, with a further adoption hearing on Feb. 17. If the Secretary adopts regulations, they will next be considered by the Legislative Commission on Feb. 26.
