Nevada voters reject move to tax mining firms more
November 5, 2014
LAS VEGAS — Nevada voters narrowly rejected a constitutional amendment that would have removed a 5 percent cap on mining industry taxes dating to statehood in 1864.
The Nevada Mining association posted a Twitter message thanking voters after the measure, Question 2, was defeated Tuesday by fewer than 3,400 votes.
Some 535,000 votes were cast for and against the initiative in unofficial results.
If the measure passed, it wouldn't have immediately increased taxes paid by the powerful mining industry.
That's because the state Legislature in 2013 adopted a law that would have kicked in to provide tax exemptions that could add up to about the same for mining companies.
Mining supporters say the industry pays hundreds of millions of dollars in taxes, provides high-paying jobs, and supports Nevada communities in many other ways.