- Associated Press - Friday, June 19, 2015

CARSON CITY, Nev. (AP) - A major credit ratings agency is praising a recently approved bill allowing local governments in Nevada to tweak contracts with their unions during economic downturns.

Moody’s Investor Services said in a weekly newsletter released Wednesday that passage of SB168 was a “credit positive” because it gives more financial flexibility to local governments.

The bill allows local governments to renegotiate union contracts if revenue drops more than five percent in a year, and to fence off a quarter of budgeted spending from union negotiations. It doesn’t affect school districts.

Moody’s said the newly approved bill would give cash-strapped local governments like North Las Vegas more control and flexibility in future negotiations with employee unions.

Democrats and union lobbyists strongly opposed the bill during the legislative session.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide