NV SB471

Amends NRS 387.12455 to change how the Governor calculates State Education Fund increases in the executive budget, requiring the increase to be the lower of either the Economic Forum's projected revenue increase rate or the combined rate of inflation plus enrollment growth (rather than the higher of these measures under prior law)

Requires the Governor to ensure State General Fund transfers to the State Education Fund are not less than the prior biennium's appropriation, unless the Economic Forum projects decreased state revenue for general, unrestricted uses

Limits any decrease in State Education Fund transfers to no more than the percentage decrease in revenue projected by the Economic Forum when revenues are expected to decline

Eliminates prescriptive formulas for how the Governor must calculate recommendations for the statewide base per pupil funding amount and weighted funding multipliers, while maintaining the requirement to include such recommendations in the executive budget

Removes the requirement that the Governor propose legislation to improve school funding methods when deviating from standard budget preparation requirements; effective July 1, 2025