According to Yahoo! Finance, Nevada is behind only California, Arizona, and Florida in terms of total state budget shortfall.
Nevada’s budget gap is 16% of the total state budget or $1.2 billion.
Nevada has the worst foreclosure rate in the nation, and falling tourism and gambling revenues has slowed the economy dramatically.
A special legislative session in June resulted in budget caps and cuts, but it’s quite likely another special session will have to be called – after the elections in November.