Existing law directs the Division of Workforce and Economic Development of the College of Southern Nevada to develop, create, oversee and manage the NV Grow Program to provide certain informational and technical assistance to existing small businesses in this State that are expanding or ready to expand. (Section 2 of chapter 459, Statutes of Nevada 2015, as last amended by chapter 440, Statutes of Nevada 2023, at page 2707) Existing law also requires all institutions of the Nevada System of Higher Education to track the business decisions and growth of each business that participates in the Program over the entire period of the Program and report that data to the Division at least once every 6 months. (Section 3 of chapter 459, Statutes of Nevada 2015, as last amended by chapter 570, Statutes of Nevada 2019, at page 3668) Section 2 of this bill revises the name of the Division to the Division of Small Business and Entrepreneurship Development. Section 1 of this bill requires the Division to prepare an annual report for the previous calendar year which must include, without limitation, an explanation of: (1) the assistance provided by the Program to the businesses participating in the Program; and (2) the business decisions and growth of each business participating in the Program. Section 1 further requires the Division to post the annual report on the Internet website of the Program.
Section 3 of this bill appropriates $1,900,000 to the College of Southern Nevada for certain allocations and to assist and carry out the Program.