NV SB462

Redefines "adjusted base budget" to be calculated from actual revenues received and expenditures made during the first year of the current biennium, rather than amounts appropriated for the second year

Expands and reorganizes the list of authorized adjustments to agency base budgets, including new provisions for travel costs, building rent, revenue authority changes, and grant annualization

Changes the 26% cap on the Rainy Day Account (Account to Stabilize the Operation of State Government) to be measured against the previous fiscal year's appropriations rather than the current fiscal year's appropriations

Transfers responsibility for preparing the annual statewide cost allocation plan from the Administrator of the Administrative Services Division to the Chief of the Budget Division

Requires agency budget requests to explicitly itemize adjusted base budget, costs for continuing programs at current service levels, and costs for new programs or program changes