NevadaAB6283rd Regular Session (2025)HouseWALLET

AN ACT relating to taxation; revising the procedure for applying for transferable tax credits for affordable housing; revising provisions governing the transfer of transferable tax credits for affordable housing; revising provisions relating to the amount of transferable tax credits for affordable housing that may be approved; revising provisions relating to the expiration of transferable tax credits for affordable housing; and providing other matters properly relating thereto.

Sponsored By: Assembly Committee on Revenue

Failed

BDR 32-437

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

More Flexibility for Housing Credit Sponsors

Beginning July 1, 2025, sponsors must file final housing credit applications at least 15 days before closing, down from 45. Sponsors can secure project sites through ownership or a long-term ground lease in their name. They must provide satisfactory proof that the project closed on time. Sponsors can transfer credits to members, partners, or any other entity, and must notify the Nevada Housing Division. Recipients can transfer credits only to their subsidiaries or affiliates and must also notify the Division.

Housing Credit Expiration Clock Starts Earlier

Beginning July 1, 2025, housing credits expire four years after the Nevada Housing Division tells sponsors they will be issued. The clock starts with that notice, rather than when the credits are issued. This can leave sponsors and credit holders less time to use the credits after issuance.

More Housing Credits, With Annual Tradeoffs

Beginning July 1, 2025, Nevada’s total affordable-housing tax credit cap rises from $40 million to $100 million across all years. The usual annual limit remains $10 million, and unused credits can carry forward. The Nevada Housing Division can approve up to $13 million in a fiscal year when needed to maximize affordable-housing development. Any amount above $10 million reduces the next fiscal year’s available credits dollar-for-dollar. That reduction uses carried-forward credits first, before lowering the next year’s $10 million base.

Sponsors & Cosponsors

Sponsor

  • Assembly Committee on Revenue

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. (No further action taken.)

    6/3/2025House
  2. Placed on Chief Clerk's desk.

    6/1/2025House
  3. Taken from General File.

    6/1/2025House
  4. Placed on General File.

    6/1/2025House
  5. From committee: Amend, and do pass as amended.

    6/1/2025House
  6. Rereferred to Committee on Ways and Means. Exemption effective. To committee.

    4/3/2025House
  7. Taken from General File.

    4/3/2025House
  8. Read second time.

    4/3/2025House
  9. From committee: Do pass.

    3/31/2025House
  10. Notice of eligibility for exemption.

    2/9/2025House
  11. Read first time. To committee.

    2/4/2025House
  12. From printer.

    11/26/2024House
  13. Prefiled. Referred to Committee on Revenue. To printer.

    11/20/2024House

Bill Text

  • As Introduced

Related Bills

Back to State Legislation