Nevada legislation · 83rd Legislature (2025)
Nevada SB402: Provides for the creation of restoration improvement districts for building restoration projects. (BDR 22-332)
Status: Introduced
What the bill says
An act relating to taxation; authorizing under certain circumstances the governing body of a county or city to create a restoration improvement district for the purpose of a project to restore certain buildings that are at least years of age; authorizing under certain circumstances the governing body of a county or city to pledge certain property tax proceeds for the costs of such a project; establishing certain requirements for contracts or agreements for construction work performed on such a project; and providing other matters properly relating thereto…
From the engrossed text, April 24, 2025:
AN ACT relating to taxation; authorizing under certain circumstances the governing body of a county or city to create a restoration improvement district for the purpose of a project to restore certain buildings that are at least years of age; authorizing under certain circumstances the governing body of a county or city to pledge certain property tax proceeds for the costs of such a project; establishing certain requirements for contracts or agreements for construction work performed on such a project; and providing other matters properly relating thereto. Legislative Counsel's Digest: This bill authorizes the governing body of a county or city in which a building restoration project is or is expected to be located to create a restoration improvement district that includes the project, or a part of the project, within its boundaries. Section 3 of this bill defines the criteria for a project to qualify as a building restoration project. Under section 7 of this bill, the governing body of a county or city is authorized to: (1) adopt an ordinance creating a restoration improvement district, subject to certain restrictions concerning the areas that may be included in the district; and (2) pledge a portion of certain taxes on real property collected in the district during a fiscal year, except that such a pledge may not - *SB402_R1* include …
Sponsors
- (D, 2) · primary sponsor