Title 18

NRS 226.718 “Executive Director” defined. “Executive Director” means the Executive Director of the Bank. (Added to NRS by 2017, 4126; A 2021, 3816)—(Substituted in revision for NRS 408.55054)

NRS 226.721 “Federal accounts” defined. “Federal accounts” means any accounts established pursuant to NRS 226.787 which are necessary to hold money from federal sources. (Added to NRS by 2017, 4126; A 2021, 3811, 3816)—(Substituted in revision for NRS 408.55055)

NRS 226.724 “Financing agreement” defined. 1. “Financing agreement” means any agreement entered into between the Bank and a qualified borrower pertaining to a loan or other financial assistance for a qualified project, which may or may not include nonfinancial provisions relating…

NRS 226.727 “Governmental unit” defined. “Governmental unit” means: 1. The State of Nevada, including, without limitation, any board, commission, agency, department, division or instrumentality thereof; 2. A political subdivision of the State of Nevada, including, without limitat…

NRS 226.730 “K-12 school facility” defined. “K-12 school facility” means buildings and related assets, in a county whose population is less than 100,000, that are used primarily for educational instruction of pupils in kindergarten or in any grades 1 to 12, inclusive, and activit…

NRS 226.733 “Loan” defined. “Loan” means any form of direct financial assistance that is provided by the Bank to a qualified borrower to defray all or part of the anticipated or actual costs of a qualified project and is required to be repaid by the borrower over a period of time…

NRS 226.736 “Loan obligation” defined. “Loan obligation” means a bond, note or other evidence of a qualified borrower’s obligation to repay a loan given by the Bank. (Added to NRS by 2017, 4126; A 2021, 3816)—(Substituted in revision for NRS 408.55059)

NRS 226.739 “Other financial assistance” defined. “Other financial assistance” means any use of money by the Bank for the benefit of a qualified borrower, including, without limitation, a grant, contribution, credit enhancement, capital or debt reserve for bonds or other debt ins…

NRS 226.742 “Other infrastructure related to economic development” defined. “Other infrastructure related to economic development” means infrastructure that: 1. Supports a public purpose while promoting economic development for a local, regional or state purpose; and 2. Is not a …

NRS 226.745 “Project revenue” defined. “Project revenue” means any rate, rent, fee, assessment related specifically to the project, charge or other receipt derived or to be derived by a qualified borrower from a qualified project and, if so provided in the applicable financing ag…

NRS 226.748 “Qualified borrower” defined. “Qualified borrower” means a governmental unit, an Indian reservation or Indian colony or a private nonprofit entity created for charitable or educational purposes. (Added to NRS by 2017, 4127; A 2021, 3812, 3816)—(Substituted in revision…

NRS 226.751 “Qualified project” defined. “Qualified project” means an eligible project that has been selected by the Bank to receive a loan or other financial assistance. (Added to NRS by 2017, 4127; A 2021, 3816)—(Substituted in revision for NRS 408.55064)

NRS 226.754 “Recycling and sustainability infrastructure” defined. “Recycling and sustainability infrastructure” means any infrastructure which allows for the processing, storage or transfer of recyclable materials as defined in NRS 444A.013. (Added to NRS by 2021, 3810)—(Substit…

NRS 226.757 “Renewable energy infrastructure” defined. “Renewable energy infrastructure” means any infrastructure which allows for the generation, storage or use of renewable energy as defined in NRS 701.070. (Added to NRS by 2021, 3810)—(Substituted in revision for NRS 408.55064…

NRS 226.760 “Social infrastructure” defined. “Social infrastructure” means any infrastructure which: 1. Is used or useful for the construction, development and maintenance of facilities and systems that support social services, including, without limitation, those services relate…

NRS 226.763 “State and local accounts” defined. “State and local accounts” means any accounts established pursuant to NRS 226.787 which are necessary to hold money from state and local governments or contributions made from any other source, except for federal sources. (Added to …

NRS 226.766 “Transportation facility” defined. “Transportation facility” means any existing, enhanced, upgraded or new facility that is used or useful for the safe transport of people, information or goods via one or more modes of transport, including, without limitation, any of …

NRS 226.769 “Utility” defined. “Utility” has the meaning ascribed to it in NRS 408.407. (Added to NRS by 2017, 4128; A 2021, 3816)—(Substituted in revision for NRS 408.55067)

NRS 226.772 “Utility infrastructure” defined. “Utility infrastructure” means any infrastructure of a utility that is installed in any city or county that improves or expands the system of the utility. (Added to NRS by 2017, 4128; A 2021, 3812, 3816)—(Substituted in revision for N…

NRS 226.775 “Water and wastewater infrastructure” defined. “Water and wastewater infrastructure” means any infrastructure which: 1. Relates to water, including, without limitation, clean water, drinking water, wastewater, energy efficiency projects at drinking water and wastewate…

NRS 226.778 Nevada State Infrastructure Bank: Creation; purpose; Board of Directors; meetings; quorum; compensation of members. 1. The Nevada State Infrastructure Bank is hereby created within the Office of the State Treasurer. 2. The purpose of the Bank is to provide loans and o…

NRS 226.781 Board of Directors: Powers; duties; limitations on conduct of Bank. 1. The Board of Directors may: (a) Make, and from time to time amend and repeal, bylaws not inconsistent with NRS 226.700 to 226.832, inclusive, to carry into effect the powers and purposes of NRS 226…

NRS 226.784 Executive Director: Appointed by Governor; duties; powers; compensation. 1. The Governor shall, to the extent that money is available from public or private sources for administrative costs, appoint an Executive Director of the Bank. The Executive Director is in the u…

NRS 226.787 Nevada State Infrastructure Bank Fund: Creation; administration by Board of Directors; establishment of accounts; acceptable deposits; compliance with federal laws; requirements for investment of earnings; authorized uses for money in Fund. 1. The Nevada State Infrast…

NRS 226.790 Loans: Application required; Executive Director to review applications; required terms of loans; Bank to determine form and content of applications, financing agreements and loan obligations; federal requirements; interest free loan to school districts under certain c…

NRS 226.793 Qualified borrower: Required entry into financing agreement to obtain loan or other financial assistance; authorized uses of loan proceeds. 1. A qualified borrower that wishes to obtain a loan or other financial assistance from the Bank must enter into a financing agr…

NRS 226.796 Confidential information; exceptions. 1. Except as otherwise provided in subsections 2 and 3, the Bank shall keep confidential any information that is required to be submitted or disclosed to the Bank: (a) In an application for a loan or other financial assistance and…

NRS 226.799 Bank may provide insurance or reinsurance of loans; duties; requirements. 1. The Bank may provide insurance or reinsurance of loans or portions thereof, or their debt service, including, without limitation, amounts payable as premiums or penalties in the event of mand…

NRS 226.802 Permissible forms of security for issuance of revenue bonds by Bank. The Bank may provide security for any issue of revenue bonds by the Bank through any commonly accepted financial instrument, including, without limitation: 1. A deed of trust on the resources, facili…

NRS 226.805 Obligation to third person by Bank: Limitations; requirements. 1. Any obligation to a third person made by the Bank, including, without limitation, a bond or other security issued by the Bank pursuant to NRS 226.781 and any insurance, reinsurance or reserve provided b…

NRS 226.808 Failure of qualified borrower to remit full amount due: Notice; withholding of money allotted or appropriated to borrower; exceptions. 1. Except as otherwise provided in this section, if a qualified borrower that has obtained a loan or other financial assistance from …

NRS 226.811 Immunity from civil liability for certain persons. The Board of Directors and any member thereof, and any officer, employee, agent or committee member of the Bank is not liable in a civil action for any act performed on behalf of the Bank in good faith and within the …

NRS 226.814 Bank not required to provide notice or hearing before performing certain acts. Except as otherwise provided in NRS 226.700 to 226.832, inclusive, and notwithstanding any other provision of law, the Bank is not required to provide any notice or publication or to conduc…

NRS 226.817 Bank exempt from taxation. The Bank is an instrumentality of this State, and its property and income are exempt from all taxation by this State and any political subdivision thereof. (Added to NRS by 2017, 4136; A 2021, 3816)—(Substituted in revision for NRS 408.55083…

NRS 226.820 Bonds and other securities issued by Bank exempt from taxation. 1. Except as otherwise provided in subsection 2, bonds and other securities issued by the Bank pursuant to the provisions of NRS 226.700 to 226.832, inclusive, their transfer and the income therefrom must…

NRS 226.823 Qualified borrower retains right to issue bonds. Notwithstanding any provision in NRS 226.700 to 226.832, inclusive, to the contrary, NRS 226.700 to 226.832, inclusive, are supplemental to, and not in lieu of, the right of any qualified borrower to issue general oblig…

NRS 226.826 Relation to other law. 1. To the extent possible, the provisions of NRS 226.700 to 226.832, inclusive, are intended to supplement other statutory provisions governing the development, construction, repair, improvement, maintenance, decommissioning, operation and owner…

NRS 226.829 Required reports. The Board of Directors shall, not later than 90 days after the end of each fiscal year: 1. Prepare a report on the operations of the Bank during that year. 2. Submit the report prepared pursuant to subsection 1 to: (a) The Governor; and (b) The Direc…

NRS 226.832 Governmental units authorized to provide technical advice, support and assistance to Bank. Any division of the Department of Transportation, the Department of Business and Industry, the Office of Economic Development, the State Department of Conservation and Natural R…