Fulfillment of requirements of submitting tentative budget and transmitting final budget.

If the governing body of a local government submits a fiscal report of the local government to the Department pursuant to NRS 354.6015 and NAC 354.557 and 354.559 , the local government shall be deemed to have fulfilled the requirement of: 1. Submitting a tentative budget to the Department pursuant to NRS 354.596 ; and 2. Transmitting a final budget to the Nevada Tax Commission pursuant to NRS 354.598 .