Nevada Sen. Majority Leader Steven Horsford, D-North Las Vegas, and Sen. Minority Leader Bill Raggio, R-Reno, discuss the final amendments to SB429 before the body voted in the Senate Chambers at the Nevada Legislature in Carson City, Nev., on Friday, May 22, 2009.
Gov. Jim Gibbons will veto the legislation increasing taxes Thursday at 5 p.m.
He is expected not only to veto the tax package in SB429 but the General Fund budget contained in the Appropriations Act.
AB562 lays out how some $3.88 billion in General Fund money would be spent over the biennium.
It was unclear whether he would also veto other pieces of the budget package such as AB563, the K-12 education bill which represents just under $2.8 billion in General Fund.
The tax bill was designed to generate an estimated $781 million over the biennium, primarily from two business tax increases and a sales tax hike. All those increases would sunset under terms of the legislation in two years.
The General Fund budget presented by Gibbons would have spent $6.1 billion. After a series of major changes by the Legislature, the total is $6.745 billion.
In addition, there are several other pieces of legislation on Gibbons' desk which contain tax and fee changes to fund the budget.