Existing law establishes the Nevada State Infrastructure Bank within the Department of Transportation, the purpose of which is to provide loans and other financial assistance to qualified borrowers for the development, construction, repair, improvement, operation, maintenance, decommissioning and ownership of certain transportation facilities, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure, social infrastructure and other infrastructure related to economic development. (NRS 408.111, 408.55048-408.55088) Under existing law, the Bank is administered by and operates under the direction of a Board of Directors. (NRS 408.55069) Sections 1.3, 9.3 and 10 of this bill authorize the Bank to provide loans and other financial assistance for K-12 school facilities in counties with a population of less than 100,000. Section 11.5 of this bill provides that, for the purpose of providing a loan or other financial assistance: (1) the anticipated useful life of a K-12 school facility must not be deemed to be longer than 50 years; and (2) the Bank may offer a school district a rate of interest on a loan of 0 percent under certain circumstances. Section 9.7 of this bill adds workforce housing to the types of social infrastructure projects for which the Bank is authorized to provide loans and other financial assistance. Sections 9.3, 9.5, 11.3 and 11.7 of this bill make conforming changes to ensure the administration of loans or other financial assistance for K-12 school facilities are consistent with provisions of existing law governing other loans or financial assistance provided by the Bank. Sections 1.7 and 15 of this bill require the Bank to keep confidential certain information which is submitted or disclosed to the Bank, except under certain circumstances. Section 10 authorizes the Board of Directors to hold a closed meeting or to close a portion of a meeting to receive, examine or consider information which the Bank is required to keep confidential. Section 16 of this bill makes a conforming change to reflect that the Board of Directors is authorized to hold such closed meetings. Sections 9, 12 and 13 of this bill make conforming changes to indicate the proper placement of sections 1.3 and 1.7 in the Nevada Revised Statutes. Section 10: (1) provides that the State Treasurer or his or her designee serves as the Chair of the Board of Directors and removes the requirement that the Board of Directors annually elect a Chair; (2) revises the membership of the Board of Directors; and (3) prohibits a member of the Legislature from being appointed to the Board of Directors. Sections 2 and 10 of this bill remove the Bank from the Department of Transportation and establish the Bank within the Office of the State Treasurer. Sections 3-8 of this bill make conforming changes to reflect that the Bank is no longer within the Department. Sections 11 and 14 of this bill make conforming changes relating to the staffing of the Bank.

Statutes affected:
As Introduced: 408.111, 408.116, 408.131, 408.172, 408.175, 408.215, 408.389, 408.55048, 408.55069, 408.55071, 408.55081, 408.55086, 408.55088, 239.010, 241.016
Reprint 1: 408.111, 408.116, 408.131, 408.172, 408.175, 408.215, 408.389, 408.55048, 408.55053, 408.550615, 408.550647, 408.55069, 408.55071, 408.55073, 408.55074, 408.55079, 408.55081, 408.55086, 408.55088, 239.010, 241.016
Reprint 2: 408.111, 408.116, 408.131, 408.172, 408.175, 408.215, 408.389, 408.55048, 408.55053, 408.550615, 408.550647, 408.55069, 408.55071, 408.55073, 408.55074, 408.55079, 408.55081, 408.55086, 408.55088, 239.010, 241.016
Reprint 3: 408.111, 408.116, 408.131, 408.172, 408.175, 408.215, 408.389, 408.55048, 408.55053, 408.550615, 408.550647, 408.55069, 408.55071, 408.55073, 408.55074, 408.55079, 408.55081, 408.55086, 408.55088, 239.010, 241.016
As Enrolled: 408.111, 408.116, 408.131, 408.172, 408.175, 408.215, 408.389, 408.55048, 408.55053, 408.550615, 408.550647, 408.55069, 408.55071, 408.55073, 408.55074, 408.55079, 408.55081, 408.55086, 408.55088, 239.010, 241.016
BDR: 408.111, 408.116, 408.131, 408.172, 408.175, 408.215, 408.389, 408.55048, 408.55069, 408.55071, 408.55081, 408.55086, 408.55088, 239.010, 241.016