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Bill > AB540

NV AB540

NV AB540
Revises provisions relating to governmental administration. (BDR 25-1036)

summary

Introduced
03/25/2025
In Committee
06/02/2025
Crossed Over
05/29/2025
Passed
06/09/2025
Dead
Signed/Enacted/Adopted
06/09/2025

Introduced Session

Potential new amendment
83rd Legislature (2025)

Bill Summary

AN ACT relating to governmental administration; creating the Nevada Attainable Housing Account and setting forth the allowable uses of money in the Account; requiring an eligible entity to provide or secure certain matching funds as a condition of receiving money from the Account; requiring the Administrator of the Housing Division of the Department of Business and Industry to adopt annually an allocation plan for attainable housing; requiring the Division to submit a report to the Interim Finance Committee relating to the Account; creating and setting forth the duties of the Nevada Attainable Housing Council; renaming the position of Housing Advocate within the Division as the Housing Liaison; revising provisions relating to the statewide low- income housing database maintained by the Division; revising provisions relating to the Account for Affordable Housing; authorizing the Division to establish programs for the reporting of rental payments to credit reporting agencies; revising provisions governing the sale, lease or conveyance of certain real property by the governing body of a county or city; requiring the governing body of a county or city to adopt certain expedited processes relating to attainable housing; revising provisions relating to the tiers of affordable housing; revising provisions relating to certain reports submitted to the Division by certain local governments relating to affordable housing; requiring, under certain circumstances, the State Contractors’ Board to issue licenses by endorsement or provisional licenses to certain persons to perform work on attainable housing projects in certain rural areas; requiring, under certain circumstances, the State Contractors’ Board to waive certain fees relating to contractor’s licenses in certain rural areas; requiring the issuance of certain bonds; making various other changes relating to housing; making an appropriation; and providing other matters properly relating thereto.

AI Summary

This bill creates a comprehensive framework to address housing affordability in Nevada by establishing the Nevada Attainable Housing Account with a $133 million initial appropriation. The bill introduces a new approach to housing support by creating five tiers of "attainable housing" that expand the definition of affordable housing to include households earning up to 150% of the county's median income. Key provisions include creating a Nevada Attainable Housing Council to provide oversight, establishing an allocation plan for distributing funds, and implementing several innovative strategies to increase housing accessibility. The bill provides funding and mechanisms for various housing initiatives, such as competitive loans and grants for housing development, down payment assistance for essential workers, and incentives for local governments to expedite housing projects. Additionally, the legislation includes provisions to support rural areas by creating special licensing pathways for contractors working on attainable housing projects, waiving certain fees, and establishing a process for issuing provisional contractor's licenses in areas experiencing skilled labor shortages. The bill also requires reporting and transparency measures, including annual reports on housing project impacts and the creation of a comprehensive housing database to track housing needs and progress across the state.

Committee Categories

Budget and Finance, Business and Industry, Government Affairs

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Government Affairs (Assembly)

Last Action

Chapter 432. (on 06/09/2025)

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