Bank of America contracted to send rebate checks

The Board of Examiners inked a contract Thursday with Bank of America that Gov. Kenny Guinn says will get Nevadans their rebate checks two months earlier.

Project Manager Dave McTeer said the checks will be mailed all on the same day in September to minimize complaints from people receiving them and minimize the possibility some could be stolen.

Guinn said at one point, the state was looking at several contracts to handle different tasks in making the rebate happen and the possibility they wouldn't be mailed out until the end of the year.

But Treasurer Brian Krolicki said Bank of America has already handled rebates for two other states - Washington and Minnesota.

Guinn said not only will the bank handle the whole process but they'll do it for $1.3 million - much cheaper than the original estimate of $2 million.

Krolicki said since the state already has a banking contract with Bank of America, the Board of Examiners needed only to amend that existing contract to include the rebate deal.

Guinn called on lawmakers in January to rebate a total of $300 million to Nevadans, saying that money was excess in the state treasury and should go back to taxpayers. He said the fairest way was to issue rebates of the money paid to register cars and trucks in the state. While lawmakers modified the plan somewhat, they basically agreed with Guinn.

The final proposal guarantees a minimum $75 check for each vehicle registered in the state during 2004. The maximum amount of any check was set at $275 per registration.

Seniors who don't have a registered car but hold a valid Nevada ID will also get $75 checks.

-- Contact reporter Geoff Dornan at gdornan@nevadaappeal.com or 687-8750.