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 50 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.
Sponsored By: Howard Watts (Democratic), Rich DeLong (Republican), Edgar Flores (Democratic)
Failed
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 1 benefits, 2 costs, 1 mixed.
Nevada communities can restore older business buildings
Nevada counties and cities can create restoration districts by ordinance for buildings and surrounding sites within their boundaries. Buildings must be at least 50 years old and suitable for licensed business use. No business can have operated there for at least 10 years, except activity needed to maintain a local privileged license. Projects must restore the building's original character. Districts must meet city or county location rules and exclude existing redevelopment areas and properties with nonrestricted gaming establishments.
Restoration properties face long-term gaming limits
Before adopting the ordinance or creating the district, the municipality and developer must record a restriction with the county recorder. It bars operations requiring a nonrestricted license anywhere in the project for at least 20 years. That period starts on the later of the ordinance adoption date or district-creation date. The restriction binds future owners and cannot be changed or ended during that period. Afterward, any change or removal requires an affirmative vote by the municipality's governing body.
Restoration contractors must follow construction rules
Construction work performed after a restoration district ordinance takes effect must follow Nevada's rules in NRS 338.013 through 338.090. These rules apply even when the contract or agreement was signed earlier. The local governing body, developer, contractors, and subcontractors must comply as though the local government undertook the project or awarded the contract. The supplied provisions do not spell out the referenced construction requirements.
Tax growth can repay restoration developers
Nevada counties and cities can pledge qualifying property-tax growth to repay restoration developers through project agreements. Existing taxing agencies keep taxes based on the assessment roll in place on March 15 immediately before the ordinance takes effect. Only when district assessed value exceeds that baseline does qualifying tax growth go to a district account for project costs. Exclusions cover specified voter-approved debt or tax-rate increases, county school support, and taxes belonging to agencies that opt out. Eligible public bodies other than the State can opt out by resolution within 30 days after receiving proposed-ordinance notice. Agreements can cover improvements, rehabilitation, repairs, equipment, maintenance, operations, and reasonable interest and financing costs. Payments and security can use only pledged district money the municipality receives—not its general fund, general credit, or taxing power. Agreements are not general municipal obligations or debt under debt limits, and the limits in NRS 354.626(1) do not apply. The governing body can make an agreement binding beyond its first fiscal year only when it concerns solely the project. Annual payments are due no later than 15 days after the agreed payment date. Agreements automatically end at the close of the fiscal year containing the district ordinance's 20th anniversary. After all required agreement payments are made, later tax proceeds go to the respective taxing agencies.
Sponsors & Cosponsors
Sponsors
Howard Watts
Democratic • House
Rich DeLong
Republican • House
Edgar Flores
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
(No further action taken.)
6/3/2025SenateFrom printer. To engrossment. Engrossed. First reprint. To committee.
4/24/2025SenateTaken from General File. Re-referred to Committee on Finance. Exemption effective. To printer.
4/21/2025SenateRead second time. Amended. (Amend. No. 494.)
4/21/2025SenateNotice of eligibility for exemption.
4/21/2025SenatePlaced on Second Reading File.
4/21/2025SenateFrom committee: Amend, and do pass as amended.
4/21/2025SenateFrom printer. To committee.
3/19/2025SenateRead first time. Referred to Committee on Government Affairs. To printer.
3/17/2025Senate
Bill Text
As Introduced
Reprint 1
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