OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Issue Position: Call Out Waste, Fraud, and Abuse and End Special Funds That Only Benefit Out-Of-State Interests and Bankers

Issue Position

Date: Jan. 1, 2014
Issues: Government Budget and Spending

Nevadans are tired of politicians who take them for granted. Nothing illustrates this point more than the Nevada Capital Investment Corporation (NCIC). The NCIC is a $50 million fund set up by the current Treasurer that benefits out-of-state bankers and has done little if anything for Nevadans. According to the Board of Examiners, NCIC will pay an estimated $3.48 million in annual fees for merely showing up to work; and, $3.14 million in additional fees (in carried interest) to a Philadelphia-based financial firm based on profits. To date, its singular investment has been in a 35-year old company whose shares have been passed from one out-of-state owner to another. It's time we shut down the NCIC and replace it with micro-finance and other programs that will benefit hard working Nevadans and local businesses.


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