$116,000 loan approved to build Nevada’s education savings enrollment system

A legislative interim finance committee on Wednesday approved a $116,000 loan for the state treasurer’s office to build and maintain an online enrollment system for Nevada’s new education savings accounts.

The treasurer’s office lowered its initial request of $247,000 and expects to repay the loan through a 3 percent administration fee for all accounts, which offer about $5,000 for students to attend private school or for homeschooling.

Chief of Staff Grant Hewitt told the committee that the treasurer’s office already had received more than 2,000 applications for early enrollment in the program. He will conduct a workshop Friday to field public comment on proposed regulations to oversee the education savings accounts.

Before their vote, committee members questioned Hewitt about the selection of a vendor to implement the online enrollment system.

Chair Paul Anderson, R – Las Vegas, reminded lawmakers that the state Board of Examiners has the authority to vet a final contract with the chosen vendor.