Bill > SB502

This bill authorizes and funds various capital improvement projects across multiple state departments and agencies for the 2025-2027 biennium, totaling approximately $99.5 million from the State General Fund, $9.9 million from the State Highway Fund, and up to $800.9 million in general obligation bonds. The projects span a wide range of state facilities, including improvements and renovations for departments such as Administration, Agriculture, Corrections, Human Services, Military, Higher Education, Tourism and Cultural Affairs, Motor Vehicles, Veterans Services, and Wildlife. Key projects include building purchases, facility maintenance, HVAC system replacements, ADA improvements, security upgrades, and infrastructure repairs at various state locations like correctional centers, veterans homes, and state office buildings. The bill also establishes a property tax levy of 16.18 cents per $100 of assessed valuation to support bond repayment and includes provisions for how unspent funds must be handled, requiring any remaining balances to be reverted to the appropriate fund by September 21, 2029. Additionally, the bill allows for some flexibility in transferring funds between projects with approval from the Interim Finance Committee and provides mechanisms for temporary advances from the State General Fund or State Highway Fund to facilitate project initiation before bond sales are completed.

Budget and Finance

Finance (S)

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12953/Overview