Nevada Governor Jim Gibbons is calling for an emergency budget meeting Thursday to discuss what he calls the "worst fiscal crisis in the state's history."

The emergency meeting will include Republican and Democratic state leaders , the Attorney General, Treasurer and Lieutenant Governor.

"It's important that all state leaders are on the same page about where we stand and together we consider our options moving forward," the Governor said.

One of those options includes the Lt. Governor's proposal to securitize the state's tobacco settlement funds. Gibbons has also approved reductions in state pending, delaying one-shot appropriations and construction projects to tapping the state's Rainy Day Fund.

Nevada is facing a projected budget shortfall of $980.5 million, that includes the projected gaming collections for May 2008, down 3% from the same time last year.

For more detailed information about the state's General Fund revenue collections, visit the State Division of Budget and Planning at http://budget.state.nv.us/general%5Ffund/.