SB 402
Provides for the creation of restoration improvement districts for building restoration projects. (BDR 22-332)
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Bill overview
This bill establishes a process for creating ‘restoration improvement districts’ in Nevada to fund building restoration projects. These districts would allow local governments (counties or cities) to pledge a portion of property tax revenue collected within the district to pay for the project’s costs. The project must meet specific criteria, including being at least 50 years old and involve a building restoration. The bill also includes provisions regarding contracts for construction work and ensures that the district is exempt from certain revenue limitations.
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