Gibbons Vetoes Bill Erasing Tax Breaks

A bill erasing "green" building tax breaks has been vetoed by Nevada Governor Jim Gibbons - who has issued an executive order that will require state lawmakers to come up with a new plan before their session ends on June fourth.

In his first veto, the Republican governor said any efforts to modify the tax breaks approved by lawmakers in 2005 should include public hearings "where taxpayer concerns can be discussed and debate and the long-term fiscal impact of any tax exemptions or abatements can be carefully analyzed."

He says that such hearings haven't occurred, referring to the rushed move by Assembly and Senate members to approve the bill that would have done away with the tax breaks amounted to hundreds of millions of dollars.

In his executive order that accompanied his veto message, Gibbons said he's suspending the tax exemptions through June fourth - although he's leaving in place four exemptions that already have been approved.

One company, MGM Mirage, qualified for at least 80 million dollars in tax breaks under the 2005 law. The dollar impact of the other approved exemptions hasn't been disclosed.

(Copyright 2007 by The Associated Press. All Rights Reserved.)