A bill that would permit Nevada cities and counties to file for chapter 9 protection was endorsed on Friday by North Las Vegas Mayor John Lee, the Las Vegas Review Journal reported yesterday. Nevada Senate Bill 475, which was heard by the Nevada Senate Government Affairs Committee, would allow the bankruptcy if the state Tax Commission found that a severe financial emergency existed and was expected to last at least three years. It would also require such a bankruptcy petition to be reviewed and approved by the governor and attorney general before it could be filed. Efforts would be made to avoid a bankruptcy filing, which would only be a last resort. The committee did not take action on the measure.
