AND CONDUCT BUSINESS IN NEVADA

                                     (S.C.R. 19, File No. 144, Statutes of Nevada 1999)




The Subcommittee operates under the Legislative Commission and is responsible for studying and making recommendations concerning methods to encourage corporations and other business entities to organize and conduct business in Nevada.  The study must include an examination of the following:  Nevada’s business laws; the operation of the Office of the Secretary of State; and whether a business court should be established in Nevada.


Committee Proceedings and Major Issues


At the first meeting, three sub-subcommittees were appointed to examine the following issues and report back to the full Subcommittee at its next meeting on March 24, 2000:


·                      The creation of a business court and revision of Nevada’s business laws:  The sub‑subcommittee met on January 7, 2000, and is working with the Nevada Supreme Court and the State Bar of Nevada to develop recommendations for the consideration of the full Subcommittee.  The Nevada Supreme Court has created a judiciary task force which will report back to the Subcommittee on the feasibility of creating a business court within the existing judicial structure.  The Business Law Section of the State Bar of Nevada is in the process of reviewing Nevada’s business laws for changes that will enhance the appeal of incorporating in the State.


·                      Economic incentive programs:  The sub-subcommittee met on January 10, 2000, and February 3, 2000, and will bring recommendations back for the consideration of the full Subcommittee which address networking and training for venture capital programs; the Commission on Economic Development’s plan for diversification that includes plans for marketing and methods of retaining and expanding existing businesses; and possible legislation to provide mechanisms through which money can be made available for business ventures.


·                      Incentives offered through the Office of the Secretary of State for businesses to locate in Nevada:  The sub-subcommittee met on January 24, 2000, and February 28, 2000, and is considering recommendations from the Secretary of State’s Office to equip the Office with the technological tools, training, and staff necessary to provide expeditious services to its clients; and to extend the hours the Office is open to meet increased demands and to accommodate clients on the East Coast.


Future Meetings


The full S.C.R. 19 Subcommittee will meet on March 24, 2000, to consider the recommendations of each sub-subcommittee.