The Nevada Legislature wrapped up a rare special session late Friday, approving $275 million in budget cuts to balance the budget for the fiscal year that starts Tuesday.
Conflicting budget plans or other disputes that could have extended the session for days, if not weeks, did not materialize.
Following adjournment, Gov. Jim Gibbons said he would review the approved bills in detail, but late Friday night he saw no problem in signing them into law. He congratulated legislators for finding places to make $275 million in tax cuts without raising taxes, but predicted more tough times lie ahead before the economy recovers.
The deal approved by the Legislature includes cutting the textbook fund by half, generating $48 million, and implementing agency spending reductions worth $106 million. The reductions, which average 3 percent, will hit higher education and public education as well, but the cuts will be targeted, not across-the-board. The textbook money will not be cut if state tax revenues come in above expectations.