Plan would increase taxes on mining, pour more funds into education

An earth ore truck is loaded with materials at an open-pit mine.

CARSON CITY — Nevada lawmakers introduced a proposal late Saturday to impose additional taxes on mining, opening the door for consensus between an industry that has long sought to protect its unique tax structure and reformers who want to increase state spending on education.

Under a deal brokered by lawmakers from both parties, mining lobbyists and the state’s largest teacher’s union, the state will funnel more dollars from its Net Proceeds on Minerals tax to education and add a tax on gross revenue that is tiered and will only apply to mines that gross more than $20 million annually. The Legislature draws to a close at midnight Monday. 

Mines that report gross revenue of $20 million to $150 million will be charged 0.75% excise tax, while a 1.1% tax will be charged on mines that report any higher. The tax on gross revenue will only apply to silver and gold mines, excluding other minerals like gypsum, lithium or copper and earmark much of the funding for education.

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