STATE TREASURER

Nev. Rev. Stat. 226
in effect

Nev. Rev. Stat. § 226.010 Qualifications of State Treasurer.

No person shall be eligible to the Office of State Treasurer unless the person: 1. Has attained the age of 25 years at the time of such election; 2. Is a qualified elector and has been a citizen resident of this State for 2 years next preceding the election; and 3. Is registered to vote in this State.

Nev. Rev. Stat. § 226.020 Election; term of office.

1. The State Treasurer shall be elected by the qualified electors of the State. 2. The State Treasurer shall be chosen at the general election of 1866, and every 4th year thereafter, and shall hold office for the term of 4 years from the time of his or her installment and until his or her successor shall be qualified.

Nev. Rev. Stat. § 226.040 Absence from State limited.

The State Treasurer shall not absent himself or herself from the State for more than 90 days at any one time without leave of absence from the Legislature.

Nev. Rev. Stat. § 226.050 Commission; oath; bond.

The State Treasurer shall be commissioned by the Governor, but before such commission shall issue and before entering upon the duties of office, the State Treasurer shall: 1. Take the oath of office prescribed by law, to be endorsed upon his or her commission; and 2. Execute and deliver to the Governor a bond, payable to the State, in an amount which shall be determined by the State Board of Examiners, conditioned for the faithful performance of all duties which may be required of the State Treasurer by law and for the delivery by him or her to his or her successor of all books, papers, records, moneys, vouchers, sureties, funds and securities, evidences of debt, and effects belonging to his or her office or to the State of Nevada. The official bond shall be executed by a surety company or companies authorized to do business in the State of Nevada.

Nev. Rev. Stat. § 226.080 Use of facsimile signature; combination of facsimile signature with facsimile signature of State Controller or other state officer or employee authorized to administer bank account.

1. The State Treasurer may use a facsimile signature in place of his or her handwritten signature if: (a) The facsimile signature is: (1) Produced by the most efficient device or other method of facsimile reproduction reasonably available; and (2) Made and used only under the personal direction and supervision of the State Treasurer; and (b) The device or other method of facsimile reproduction is kept securely locked at all times when not in use in such a manner as to prevent any misuse, fraudulent use or other improper use. If the device or other method of facsimile reproduction is of such a nature that: (1) The facsimile image or impression is severable from the device or other method of facsimile reproduction, the facsimile image or impression must be kept in a separate secure place in the Office of the State Treasurer; and (2) Any registered key, password or other securing device or procedure is severable from the device or other method of facsimile reproduction, the registered key, password or other securing device or procedure must be locked in a vault. 2. Except as otherwise required by specific statute and subject to the conditions of subsection 1 and the consent of each, the State Treasurer and the State Controller, or the State Treasurer and any other officer or employee of state government who is authorized to administer a bank account, may combine their facsimile signatures for use in a device or other method of facsimile reproduction. The facsimile image or impression of such combined signatures must be kept in the Office of the State Treasurer as provided in paragraph (b) of subsection 1.

Nev. Rev. Stat. § 226.090 Salary.

1. Until the first Monday in January 2007, the State Treasurer is entitled to receive an annual salary of $80,000. From the first Monday in January 2007, until the first Monday in January 2011, the State Treasurer is entitled to receive an annual salary of $97,000. 2. On the first Monday in January 2011 and on the first Monday of every fourth year thereafter, the salary of the State Treasurer must be increased by an amount equal to the cumulative percentage increase in the salaries of the classified employees of this State during the immediately preceding term of the State Treasurer.

Nev. Rev. Stat. § 226.100 Appointment and classification of deputies and assistants; restrictions on other employment of Chief Deputy.

1. The State Treasurer may appoint and employ a Chief Deputy, two Senior Deputies, an Assistant Treasurer, a Deputy of Debt Management, a Deputy of Investments, a Deputy of Cash Management, a Deputy of Unclaimed Property, a Deputy of Financial Literacy and Security and an Assistant to the State Treasurer in the unclassified service of the State. 2. Except as otherwise provided in NRS 284.143 , the Chief Deputy State Treasurer shall devote his or her entire time and attention to the business of his or her office and shall not pursue any other business or occupation or hold any other office of profit.

Nev. Rev. Stat. § 226.110 General powers and duties.

1. The State Treasurer: (a) Shall receive and keep all money of the State which is not expressly required by law to be received and kept by some other person. (b) Shall receipt to the State Controller for all money received, from whatever source, at the time of receiving it. (c) Shall establish the policies to be followed in the investment of money of the State, subject to the periodic review and approval or disapproval of those policies by the State Board of Finance. (d) May employ any necessary investment and financial advisers to render advice and other services in connection with the investment of money of the State. (e) Shall disburse the public money upon warrants drawn upon the Treasury by the State Controller, and not otherwise. The warrants must be registered and paid in the order of their registry. The State Treasurer may use any sampling or postaudit technique, or both, which he or she considers reasonable to verify the proper distribution of warrants. (f) Shall keep a just, true and comprehensive account of all money received and disbursed. (g) Shall deliver in good order to his or her successor in office all money, records, books, papers and other things belonging to his or her office. (h) Shall fix, charge and collect reasonable fees for: (1) Investing the money in any fund or account which is credited for interest earned on money deposited in it; and (2) Special services rendered to other state agencies or to members of the public which increase the cost of operating his or her office. (i) Serves as the primary representative of the State in matters concerning any nationally recognized bond credit rating agency for the purposes of the issuance of any obligation authorized on the behalf and in the name of the State, except as otherwise provided in NRS 538.206 and except for those obligations issued pursuant to chapter 319 of NRS and NRS 349.400 to 349.987 , inclusive. (j) Is directly responsible for the issuance of any obligation authorized on the behalf and in the name of the State, except as otherwise provided in NRS 538.206 and except for those obligations issued pursuant to chapter 319 of NRS and NRS 349.400 to 349.987 , inclusive. The State Treasurer: (1) Shall issue such an obligation as soon as practicable after receiving a request from a state agency for the issuance of the obligation. (2) May, except as otherwise provided in NRS 538.206 , employ necessary legal, financial or other professional services in connection with the authorization, sale or issuance of such an obligation. (k) May organize and facilitate statewide pooled financing programs, including lease purchases, for the benefit of the State and any political subdivision, including districts organized pursuant to NRS 450.550 to 450.750 , inclusive, and chapters 244A , 318 , 379 , 474 , 541 , 543 and 555 of NRS. (l) Shall serve as the Administrator of Unclaimed Property. (m) In addition to the instruction provided pursuant to NRS 315.515 , 315.9945 or 422A.493 , shall, to the extent that money is available for that purpose, ensure that instruction and training in the following areas is provided to the tenants of a housing project operated by a local housing authority pursuant to NRS 315.140 to 315.7821 , inclusive, to the tenants of a housing project operated by the Nevada Rural Housing Authority pursuant to NRS 315.961 to 315.99874 , inclusive, and to the tenants of a nonprofit organization described in sub-subparagraph (III) of subparagraph (1) of paragraph (c) of subsection 2 of NRS 422A.493 : (1) The business opportunities and any benefits available for: (I) Small business enterprises; (II) Minority-owned business enterprises; (III) Women-owned business enterprises; and (IV) Disadvantaged business enterprises as defined by 49 C.F.R. § 26.5; and (2) The procedures in place to utilize the opportunities and benefits listed in subparagraph (1) and how to proceed through such procedures. 2. As used in this section, “local housing authority” means an authority as defined in NRS 315.170 .

Nev. Rev. Stat. § 226.115 State Treasury designated.

All moneys, funds and property of the State of Nevada, in the custody and control of the State Treasurer or his or her office by virtue of his or her official position as State Treasurer, are hereby designated as the State Treasury of the State of Nevada.

Nev. Rev. Stat. § 226.120 Reports.

The State Treasurer shall: 1. Provide information to either house of the Legislature, whenever required, upon any subject connected with the Treasury or any duty of his or her office. 2. Prepare and submit an annual report of the operations of his or her office to the Governor and the Legislative Commission within 60 working days after: (a) The close of a fiscal year; or (b) The latest date established by the Legislature to close accounts for a fiscal year, Ê whichever occurs later for that fiscal year.

Nev. Rev. Stat. § 226.130 Inspection of records.

1. The books, papers and transactions of the Office of the State Treasurer shall be open at all times for the inspection of the Governor, the State Controller, the State Board of Examiners, either house of the Legislature, or of any committee thereof, or person authorized by law. 2. For any failure (except it be unavoidable) to comply with the provisions of this section, the State Treasurer shall forfeit his or her office, and the Governor shall declare the same vacant, and shall appoint a successor.

Nev. Rev. Stat. § 226.140 Payment of warrants; exhaustion of money to pay warrant; notice.

1. The State Treasurer shall pay all warrants drawn upon him or her by the State Controller, out of the proper fund, as directed, in the order in which the same are presented. 2. If there be no money to pay any warrant when presented, the State Treasurer shall endorse thereon the words “not paid for want of funds,” and shall note the date of presentation, and attest the endorsement made, by his or her official signature. The State Treasurer shall at the same time make an entry of the date of presentation, number and amount of the warrant in the register required by law to be kept by him or her. So soon as money accumulates or is received into the State Treasury, applicable to and sufficient for the payment of any outstanding warrant or warrants so presented for payment and not paid for want of funds, the State Treasurer shall post a notice in writing in a conspicuous place in his or her office, setting forth the number and amount of his or her warrant or warrants, and the fact that there is money in the State Treasury to pay the same. From the time of the posting of such notice, no interest shall be allowed or paid upon any warrant which by law is or may be entitled to bear interest.

Nev. Rev. Stat. § 226.150 Liability for failure to pay warrants.

Any failure, neglect or refusal on the part of the State Treasurer to pay any warrant when presented, there being money in the State Treasury to pay the same, or to post the notice within 5 days, as required in NRS 226.140, after there shall have been received into the State Treasury money applicable and sufficient to pay any warrant or warrants presented and not paid for want of funds, or after having received the money and posted the notice on presentation for payment, to pay the warrants so posted, shall subject the State Treasurer to damages to the person or persons aggrieved to an amount equal to treble interest on the sum specified in the warrant or warrants not paid on presentation, as provided in this section, such interest being computed at the rate of 3 percent per month during the time such warrant or warrants remain unpaid. In any suit brought to recover the same, judgment shall be rendered to cover the damages at the time of the entry thereof and for costs.

Nev. Rev. Stat. § 226.160 Deposit of public money; custody of bonds and securities; prohibited use of public money by State Treasurer and others.

1. The State Treasurer shall deposit all moneys under his or her control in the manner provided in chapter 356 of NRS. 2. The State Treasurer shall securely keep in the safe and vault provided for him or her for that purpose, in his or her office at the seat of government, all bonds and securities of the state pertaining to his or her office, and shall not deposit any part or portion of the same with any individual, copartnership or corporation. 3. The State Treasurer shall not use the public moneys, or any part thereof, or allow anyone else to do so, except in the payment of bonds, coupons or warrants properly drawn upon him or her by the State Controller.

Nev. Rev. Stat. § 226.170 Refusal to redeem warrants and other evidence of indebtedness.

The State Treasurer shall refuse to redeem any warrants, scrip, orders or other evidence of indebtedness against the state whenever it shall come to his or her knowledge that such warrants, scrip or other evidence of indebtedness have been purchased, sold, received or transferred in violation of law.

Nev. Rev. Stat. § 226.175 Account for the Rebate of Governmental Services Tax to Senior Citizens.

There is hereby created an Account for the Rebate of the Governmental Services Tax to Senior Citizens within the State General Fund. The State Treasurer shall administer the Account.

Nev. Rev. Stat. § 226.180 Duties as ex officio State Disbursing Officer for Federal Government; regulations.

The State Treasurer is ex officio State Disbursing Officer for the Federal Government. As such, the State Treasurer shall: 1. Act for the Federal Government with respect to all financial matters required of him or her by the Federal Government. 2. Keep proper books and accounts and prepare vouchers and receipts relating thereto. 3. Keep books of account and sign and pay all warrants relating to all state payroll deductions at the time and in the manner required, according to federal law and regulation. 4. Perform such other duties in connection with the duties designated in subsections 1, 2 and 3 as may be required in the proper exercise thereof. 5. Adopt such regulations as are necessary to carry out the provisions of this section.

Nev. Rev. Stat. § 226.190 Administration of oaths and affirmations.

The State Treasurer shall have power to administer all oaths or affirmations required or allowed by law in matters touching the duties of his or her office.

Nev. Rev. Stat. § 226.200 Performance of other duties.

The State Treasurer shall perform all duties not enumerated in this chapter which may be enjoined by law.

Nev. Rev. Stat. § 226.210 Prohibition against purchasing, selling or transferring warrants, scrip or evidence of indebtedness; penalties.

1. Except as provided in subsection 3, the State Treasurer is expressly prohibited: (a) From purchasing or selling, or in any manner receiving to his or her own use or benefit, or to the use and benefit of any person or persons whatever, any state warrants, scrip, orders, demands, claim or claims, or other evidence of indebtedness against the State; or (b) From purchasing or being interested, or receiving, selling, or transferring, or causing to be purchased, received, sold or transferred, either in person or by agent or attorney, or by or through the agency or means of any person or persons whatever, any interest, claim, demand or other evidence of indebtedness against the State, either directly or indirectly; nor shall any clerk or employee of the State Treasurer be allowed to make any such purchase, sale or transfer, or to receive any agency from other parties to purchase, sell, transfer or bargain, in any manner, for any state warrants, scrip, demands or other evidence of indebtedness against the State. 2. Any person violating any of the provisions of subsection 1 shall be guilty of a gross misdemeanor. A conviction shall operate as a forfeiture of office, and the party convicted shall forever be disqualified from holding any office of honor, profit or trust in this state. 3. Nothing in this section shall prevent the State Treasurer, his or her clerks and employees from selling or transferring only such warrants or scrip as they may receive for their services, but none other.

Nev. Rev. Stat. § 226.220 Prohibited use of public money; responsibility on bond.

The State Treasurer is made responsible upon his or her official bond for all moneys received by him or her belonging to the State, and is prohibited from using or loaning or borrowing the same, for any purpose whatever, except as provided by law.

Nev. Rev. Stat. § 226.230 Penalties.

If the State Treasurer shall willfully neglect or refuse to perform any duty enjoined by law, or, by color of his or her office, shall knowingly do any act not authorized by law, or in any other manner than is authorized by law, the State Treasurer shall be deemed guilty of a misdemeanor and shall be further punished as provided in NRS 197.230.

Nev. Rev. Stat. § 226.400 Creation; requirements; outreach program to victims of domestic violence.

1. The State Treasurer shall create and maintain a statewide database of sources of financial assistance for persons pursuing higher education. 2. The database must include, without limitation: (a) A list of any program, scholarship, grant, student loan or other form of financial assistance for individuals seeking to pursue higher education. (b) The contact information of each person or entity responsible for the administration of each program, scholarship, grant, student loan or other form of financial assistance listed in the database; and (c) The demographic requirements, if any, including, without limitation, age, race and ethnicity, household size, employment status or household income, for participation in each program, scholarship, grant, student loan or other form of financial assistance listed in the database. 3. The State Treasurer: (a) Shall make the database publicly available on an Internet website maintained by the State Treasurer. (b) Shall establish a toll-free telephone number and a means of electronic communication via the Internet website to assist in the dissemination and explanation of the information contained in the database and any other information regarding sources of financial assistance for pursuing higher education. (c) May employ such staff as the State Treasurer deems necessary to maintain, support and promote the use of the database. (d) May accept any gift, donation, bequest, grant or other source of money for the purpose of carrying out the provisions of this section. 4. The Attorney General shall establish a program to market and conduct outreach to victims of domestic violence or human trafficking to connect such victims with the information contained in the database maintained by the State Treasurer pursuant to this section. The Attorney General may accept any gift, donation, bequest, grant or other source of money for the purpose of carrying out the provisions of this section.

Nev. Rev. Stat. § 226.420 State Treasurer to establish program by regulation; limitations on reimbursement; partial reimbursement.

1. The State Treasurer, in coordination with the Department of Education, shall establish by regulation a program to provide reimbursement for tuition charges, registration fees, laboratory fees and any other mandatory fees paid to an institution within the Nevada System of Higher Education by a person who: (a) Except as otherwise provided in subsection 4, has completed a Teacher Academy College Pathway Program offered pursuant to NRS 388.223 ; (b) Except as otherwise provided in subsection 3, has worked as a full-time, licensed teacher at a public school in this State for at least 3 consecutive school years; (c) Has completed the Free Application for Federal Student Aid provided for by 20 U.S.C. § 1090; and (d) Has successfully completed a program at an institution within the Nevada System of Higher Education for the preparation of a person to become a licensed teacher. 2. The program may not provide reimbursement for any tuition charge, registration fee, laboratory fee or any other mandatory fee which was paid or otherwise provided for through a scholarship, financial aid, waiver or similar financial assistance. For the purposes of this subsection, a student education loan, as defined in NRS 226.510 , must not be considered financial aid or financial assistance. 3. Except as otherwise provided in subsection 4, the State Treasurer may provide partial reimbursement of tuition charges, registration fees, laboratory fees and any other mandatory fees paid by a person who satisfies the criteria set forth in paragraphs (a), (c) and (d) of subsection 1 and who has worked as a full-time, licensed teacher at a public school in this State for 1 year or 2 consecutive years in an amount not to exceed, for each year of service at a public school in this State, one-third of the total tuition charges, registration fees, laboratory fees and any other mandatory fees paid by the person to an institution within the Nevada System of Higher Education which are subject to reimbursement pursuant to this section and the regulations adopted pursuant thereto. 4. If a person has not completed a Teacher Academy College Pathway Program offered pursuant to NRS 388.223 because of circumstances beyond the control of that person, including, without limitation, because the person attended a high school that did not offer a Program, but the person satisfies the criteria set forth in paragraph (c) and (d) of subsection 1, the State Treasurer may, upon the submission of an application by that person, provide: (a) Reimbursement for tuition charges, registration fees, laboratory fees and any other mandatory fees paid to an institution within the Nevada System of Higher Education by the person if the person has worked as a full-time, licensed teacher at a public school in this State for at least 3 consecutive years. (b) Partial reimbursement for tuition charges, registration fees, laboratory fees and any other mandatory fees paid to an institution within the Nevada System of Higher Education, in the amount described in subsection 3, if the person has worked as a full-time, licensed teacher at a public school in this State for 1 year or 2 consecutive years.

Nev. Rev. Stat. § 226.425 Nevada Grown Educator Account: Creation; administration; use of money; donations, gifts, grants and bequests; interest and income; nonreversion.

1. The Nevada Grown Educator Account is hereby created in the State General Fund. The Account must be administered by the State Treasurer. 2. The money in the Account must be used to carry out the program established pursuant to NRS 226.420 . 3. The State Treasurer may apply for and accept any donation, gift, grant, bequest or other source of money for deposit in the Account. 4. The interest and income earned on money in the Account, after deducting any applicable charges, must be credited to the Account. 5. Any money in the Account remaining at the end of a fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.

Nev. Rev. Stat. § 226.450 Definitions.

As used in NRS 226.450 to 226.466, inclusive, unless the context otherwise requires, the words and terms defined in NRS 226.452 to 226.456, inclusive, have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 226.452 “Program” defined.

“Program” means the Student Loan Repayment for Providers of Health Care and Public Health Professionals in Underserved Communities Program created by NRS 226.458.

Nev. Rev. Stat. § 226.454 “Provider of health care” defined.

“Provider of health care” means: 1. A physician; 2. A physician assistant licensed pursuant to chapter 630 or 633 of NRS; 3. A dentist; 4. A licensed nurse; 5. A person who holds a license as an attendant or is certified as an emergency medical technician, advanced emergency medical technician or paramedic pursuant to chapter 450B of NRS; 6. An optometrist; 7. An audiologist; 8. A practitioner of respiratory care; 9. A podiatric physician; 10. A psychologist; 11. A clinical professional counselor; 12. A genetic counselor; 13. A clinical alcohol and drug counselor or a licensed or certified alcohol and drug counselor; 14. A perfusionist; 15. A pharmacist or pharmacy technician; 16. An associate in social work, a social worker, a master social worker, an independent social worker or a clinical social worker licensed pursuant to chapter 641B of NRS; 17. A midwife; 18. A provider of doula services who is enrolled with the Medicaid Division of the Nevada Health Authority to receive reimbursement through Medicaid pursuant to NRS 422.27177 ; 19. A speech-language pathologist licensed pursuant to chapter 637B of NRS; 20. A physical therapist licensed pursuant to chapter 640 of NRS; 21. An occupational therapist licensed pursuant to chapter 640A of NRS; 22. A marriage and family therapist licensed pursuant to chapter 641A of NRS; 23. A clinical alcohol and drug counselor or an alcohol and drug counselor licensed pursuant to chapter 641C of NRS; 24. A problem gambling counselor certified pursuant to chapter 641C of NRS; 25. An assistant behavior analyst or a behavior analyst licensed pursuant to chapter 641D of NRS; or 26. A behavioral health and wellness practitioner.

Nev. Rev. Stat. § 226.455 “Public health professional” defined.

“Public health professional” means: 1. A person who is employed full-time or part-time as: (a) The Chief Medical Officer appointed pursuant to NRS 439.085 ; (b) A county health officer appointed pursuant to NRS 439.290 ; or (c) A district health officer appointed pursuant to NRS 439.368 or 439.400 ; or 2. A person who is employed by the Division of Public and Behavioral Health of the Department of Human Services or a local board of health in a position designated by the regulations adopted pursuant to paragraph (e) of subsection 2 of NRS 226.462 .

Nev. Rev. Stat. § 226.456 “Student education loan” defined.

“Student education loan” has the meaning ascribed to it in NRS 226.510.

Nev. Rev. Stat. § 226.458 Creation and administration of Program.

1. The Student Loan Repayment for Providers of Health Care and Public Health Professionals in Underserved Communities Program is hereby created to repay the student education loans of providers of health care and public health professionals who are eligible for the Program pursuant to NRS 226.460 and 226.462 and any regulations adopted pursuant thereto. 2. The State Treasurer shall administer the Program. 3. In administering the Program, the State Treasurer shall: (a) Ensure that persons who receive repayment of student education loans are committed to providing health care services or are committed to working as a public health professional, as applicable, in an underserved community in this State; (b) Ensure that at least 15 percent of money available for the Program in any year be used to repay the student education loans of providers of health care who commit to practicing or persons who commit to working as public health professionals, as applicable, in a county whose population is less than 100,000, to the extent that such providers or public health professionals are participating in the Program; (c) With regard to money available for the Program other than money used for the purpose described in paragraph (b), prioritize, for providers of health care, the repayment of student education loans for providers of primary care, providers of health care who commit to accepting as patients recipients of Medicaid or insurance pursuant to the Children’s Health Insurance Program and other providers of health care specified by the regulations adopted by the State Treasurer pursuant to NRS 226.462 ; and (d) Work collaboratively to raise awareness about the Program with organizations that work with providers of health care and public health professionals and students studying to become providers of health care or public health professionals, including, without limitation: (1) Educational institutions in this State, including, without limitation, institutions in the Nevada System of Higher Education; (2) Organizations that represent medical students and other students studying to become providers of health care or public health professionals; (3) Organizations that represent providers of health care or public health professionals; (4) Tribal governments; and (5) Organizations who advocate for improved health outcomes in minority communities. 4. As used in this section, “primary care” means the practice of family medicine, pediatrics, internal medicine, psychiatry or obstetrics and gynecology.

Nev. Rev. Stat. § 226.460 Eligibility for repayment of student education loan.

A provider of health care or public health professional is eligible for repayment of a student education loan under the Program if the provider of health care or public health professional: 1. Is a current resident of this State; 2. Is actively licensed, certified or registered in good standing to practice in this State as a provider of health care or is working as a public health professional, as applicable; and 3. Commits to at least 5 years of clinical practice as a licensed, certified or registered provider of health care in this State or at least 5 years of employment as a public health professional, as applicable: (a) In a census tract which, upon commencement of such clinical practice or employment, is designated as a qualified census tract by the United States Secretary of Housing and Urban Development pursuant to 26 U.S.C. § 42(d)(5)(B)(ii); (b) In a census tract which, upon commencement of such clinical practice or employment, has a high level of social vulnerability as determined according to the Social Vulnerability Index developed by the Centers for Disease Control and Prevention of the United States Department of Health and Human Services; (c) In a community in which, according to the decennial census immediately preceding the commencement of such clinical practice or employment, at least 20 percent of households were not proficient in the English language; (d) On tribal lands or in a community where tribal members commonly reside; (e) In a geographic area that has been subject to historical instances of redlining, segregation or other discriminatory practices on the basis of race, color, religion, national origin, disability, sexual orientation, sex or gender identity or expression, as determined by the State Treasurer in accordance with the regulations adopted pursuant to NRS 226.462 ; or (f) In a county whose population is less than 100,000.

Nev. Rev. Stat. § 226.462 Application for repayment of student education loan; regulations; maximum amount of assistance; confidentiality of information.

1. A provider of health care or public health professional who meets the qualifications set forth in NRS 226.460 and wishes to receive repayment of student education loans from the Program must submit an application to the State Treasurer in the form prescribed by the State Treasurer and comply with any regulations adopted pursuant to subsection 2. 2. The State Treasurer: (a) Shall adopt regulations prescribing the procedures and standards, in addition to those prescribed by NRS 226.460 , for determining the eligibility of a provider of health care or public health professional to receive repayment of a student education loan from the Program. (b) Shall adopt regulations establishing a methodology for determining the amount of repayment of a student education loan that a provider of health care or public health professional is eligible to receive from the Program. That methodology must include, without limitation, a sliding scale that conditions the amount a provider of health care or public health professional should receive from the Program on areas of specialization, type of degree and average loan burden for the particular field of health care in which the provider practices or the professional works. (c) Shall adopt regulations establishing the: (1) Procedure that the State Treasurer will use to carry out the provisions of paragraph (b) of subsection 3 of NRS 226.458 ; and (2) Manner in which the Program must prioritize the repayment of student education loans for the providers of health care pursuant to paragraph (c) of subsection 3 of NRS 226.458 . (d) Shall adopt regulations prescribing the manner in which the State Treasurer will determine whether a geographic area meets the requirements of paragraph (e) of subsection 3 of NRS 226.460 . (e) Shall, based on the recommendations made by the State Board of Health pursuant to subsection 5 of NRS 439.200 , designate positions for which the Division of Public and Behavioral Health of the Department of Human Services or a local board of health experiences substantial difficulty in recruitment and retention. (f) Shall adopt regulations prescribing the procedures for the repayment of a student education loan of a provider of health care or public health professional who has been found eligible to receive such repayment from the Program. (g) May adopt any other regulations necessary to carry out the Program. 3. The Program may not provide to a provider of health care or public health professional more than $120,000 for the repayment of student education loans. 4. The application of a provider of health care or public health professional for repayment of a student education loan and any related personally identifiable information of the applicant are confidential.

Nev. Rev. Stat. § 226.464 Employment of staff by State Treasurer; posting of information about Program.

The State Treasurer: 1. May employ such staff as the State Treasurer deems necessary to administer the Program. 2. Shall post information about the Program, including, without limitation, the requirements to be eligible to receive repayment of student education loans from the Program and the procedure to apply for such repayment, on an Internet website maintained by the State Treasurer.

Nev. Rev. Stat. § 226.466 Account for Student Loan Repayment for Providers of Health Care and Public Health Professionals in Underserved Communities: Creation; administration; sources and uses of money; interest and income; gifts, donations, bequests and grants.

1. The Account for Student Loan Repayment for Providers of Health Care and Public Health Professionals in Underserved Communities is hereby created in the State General Fund. The State Treasurer shall administer the Account. 2. Money for the Account may be provided: (a) By direct legislative appropriation; (b) By transfer from another account, including, without limitation, the Abandoned Property Trust Account created by NRS 120A.620 ; or (c) As provided in subsection 5. 3. Money in the Account must be used solely: (a) To administer the Account and the Program; and (b) To repay the student education loans of providers of health care and public health professionals who have qualified for such repayment pursuant to NRS 226.460 and 226.462 . 4. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account. Any money remaining in the Account at the end of a fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year. 5. The State Treasurer may apply for and accept any gift, donation, bequest, grant or other source of money for the purpose of administering the Program and repaying the student education loans of providers of health care and public health professionals who have qualified for repayment of student education loans pursuant to NRS 226.460 and 226.462 . The State Treasurer shall deposit any money so received into the Account.

Nev. Rev. Stat. § 226.500 Definitions.

As used in NRS 226.500 to 226.590, inclusive, unless the context otherwise requires, the words and terms defined in NRS 226.510 to 226.550, inclusive, have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 226.510 “Student education loan” defined.

“Student education loan” means any loan primarily for personal use to finance education or other school-related expenses.

Nev. Rev. Stat. § 226.520 “Student loan borrower” defined.

“Student loan borrower” means: 1. Any resident of this State who receives or agrees to pay a student education loan; and 2. Any person who shares responsibility with such a resident for repaying the student education loan.

Nev. Rev. Stat. § 226.530 “Student Loan Ombudsman” defined.

“Student Loan Ombudsman” means the Student Loan Ombudsman designated by the State Treasurer pursuant to NRS 226.560.

Nev. Rev. Stat. § 226.540 “Student loan servicer” defined.

“Student loan servicer” means any person, wherever located, responsible for the servicing of any student education loan to any student loan borrower.

Nev. Rev. Stat. § 226.550 “Student loan servicing” or “servicing” defined.

“Student loan servicing” or “servicing” means: 1. Receiving any scheduled periodic payments from a student loan borrower pursuant to the terms of a student education loan or any notification that a student loan borrower made such a scheduled periodic payment and applying the payments to the account of a student loan borrower, as may be required pursuant to the terms of a student education loan or a contract governing the servicing of a student education loan; 2. During a period in which no payment is required on a student education loan, maintaining account records for a student education loan and communicating with the student loan borrower on behalf of the owner of the promissory note for the student education loan; or 3. Interacting with a student loan borrower concerning a student education loan with the goal of helping the student loan borrower avoid default on the student education loan or facilitating the activities described in subsection 1 or 2.

Nev. Rev. Stat. § 226.560 Designation.

The State Treasurer shall designate a Student Loan Ombudsman within the Office of the State Treasurer to: 1. Provide timely assistance to any student loan borrower of any student education loan; and 2. Carry out the duties as set forth in NRS 226.500 to 226.580 , inclusive.

Nev. Rev. Stat. § 226.570 Duties.

The Student Loan Ombudsman shall: 1. Receive, review and attempt to resolve any complaint from a student loan borrower, including, without limitation, attempting to resolve such a complaint in collaboration with an institution of higher education, a student loan servicer and any other person who participates in providing a student education loan. 2. Compile and analyze data on complaints as described in subsection 1. 3. Assist student loan borrowers to understand their rights and responsibilities under the terms of student education loans. 4. Provide information to the public, governmental agencies and the Legislature regarding the problems and concerns of student loan borrowers and make recommendations for resolving those problems and concerns. 5. Analyze and monitor the development and implementation of federal, state and local laws, regulations and policies relating to student loan borrowers and recommend any changes the Student Loan Ombudsman deems necessary. 6. Review the complete history of any student education loan for any student loan borrower who has provided written consent for such a review. 7. Disseminate information concerning the availability of the Student Loan Ombudsman to assist student loan borrowers, potential student loan borrowers, institutions of higher education, student loan servicers and any other persons who participate in providing a student education loan, with any concerns relating to student loan servicing. 8. Assist student loan borrowers who are pursuing degrees in a health-related field to become aware of, qualify for and apply for the Student Loan Repayment for Providers of Health Care and Public Health Professionals in Underserved Communities Program created by NRS 226.458 . 9. Take any other actions necessary to fulfill the duties of the Student Loan Ombudsman as set forth in this section.

Nev. Rev. Stat. § 226.575 Complaints to be made available to Attorney General; agreement for sharing of information.

1. The Student Loan Ombudsman shall make all complaints received pursuant to NRS 226.570 available to the Office of the Attorney General. 2. The Student Loan Ombudsman and the Attorney General shall enter into an information-sharing agreement for the sharing of complaints between offices.

Nev. Rev. Stat. § 226.580 Establishment of course regarding student education loans.

The Student Loan Ombudsman shall establish and maintain an education course for student loan borrowers which provides educational presentations and materials regarding student education loans. The educational course must include, without limitation, information concerning important loan terms, documentation requirements, monthly payment obligations, income-based repayment options, loan forgiveness and disclosure requirements.

Nev. Rev. Stat. § 226.590 Biennial report to Legislature.

On or before February 1 of each odd-numbered year, the State Treasurer shall submit to the Director of the Legislative Counsel Bureau for transmittal to the next regular session of the Legislature a written report concerning: 1. The implementation of NRS 226.500 to 226.590 , inclusive; and 2. The overall effectiveness of the Student Loan Ombudsman.

Nev. Rev. Stat. § 226.600 Establishment; deposit of money received from participants in program; willful violation constitutes deceptive trade practice; regulations.

1. To the extent consistent with federal law, the State Treasurer shall establish, by regulation, a program that enables a provider of broadband or commercial mobile radio service to participate in a voluntary contribution program for broadband infrastructure that enables a customer of the provider to opt in and make voluntary monetary contributions as part of the customer’s monthly bill to fund a program of infrastructure grants for broadband deployment. The regulations must establish, without limitation: (a) Procedures to enable a provider of broadband or commercial mobile radio service to elect to participate in the program; (b) The manner in which a participating provider must give notice to its customers about the program; (c) Procedures to enable a customer of a participating provider to opt in to the program and make contributions to the program; and (d) The manner in which a participating provider must collect and account for contributions to the program made by participating customers. 2. The State Treasurer shall deposit money collected from participating providers in the program established pursuant to subsection 1 in the Account for the Grant Program for Broadband Infrastructure created by NRS 223.660 . 3. A willful violation by a participant in the program of any regulation adopted pursuant to subsection 1 constitutes a deceptive trade practice for purposes of NRS 598.0903 to 598.0999 , inclusive.

Nev. Rev. Stat. § 226.700 Definitions.

As used in NRS 226.700 to 226.832, inclusive, unless the context otherwise requires, the words and terms defined in NRS 226.703 to 226.775, inclusive, have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 226.709 “Digital infrastructure” defined.

“Digital infrastructure” means any infrastructure which allows for the use of data, computerized devices, methods, systems and processes that are designed to enhance broadband connectivity or facilitate the development of new or existing technologies.

Nev. Rev. Stat. § 226.712 “Eligible costs” defined.

“Eligible costs” means, as applied to a qualified project to be financed from any account established pursuant to NRS 226.787, the cost of: 1. Applying for and obtaining financial assistance from the Bank. 2. Preliminary engineering, traffic and revenue studies, environmental studies, right-of-way acquisition, legal and financial services associated with the development of the qualified project, construction, construction management, facilities, sustainability certification and other costs necessary for the qualified project to the extent such costs are an authorized use of the money obtained to capitalize the Bank.

Nev. Rev. Stat. § 226.715 “Eligible project” defined.

“Eligible project” means the development, construction, repair, improvement, operation, maintenance, decommissioning or ownership of a transportation facility, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure, K-12 school facility, social infrastructure and other infrastructure related to economic development.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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 to the qualified project, including, without limitation, terms and conditions relating to the regulation and supervision of the qualified project. 2. The term includes, without limitation: (a) A loan agreement; (b) A trust indenture; (c) A security agreement; (d) A reimbursement agreement; (e) A guarantee agreement; (f) A bond or note; and (g) An ordinance or a resolution or similar instrument.

Nev. Rev. Stat. § 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 limitation, a county, city, town, school district, general or local improvement district or a combination of two or more of those entities acting jointly, including, without limitation, as a regional transportation commission as defined in NRS 482.1825 ; and 3. A utility.

Nev. Rev. Stat. § 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 activities that directly support instruction. The term does not include facilities that are not used for educational instruction, including, without limitation, stand-alone athletic facilities, auditoriums and administrative buildings.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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 instrument financing, an interest rate subsidy, letter of credit or other credit instrument, security for a bond or other debt financing instrument and other lawful forms of financing and methods of leveraging funds that are approved by the Board of Directors and, in the case of money made available to the State by the Federal Government, as allowed by applicable federal law.

Nev. Rev. Stat. § 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 transportation facility, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure, K-12 school facility or social infrastructure.

Nev. Rev. Stat. § 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 agreement, derived from any system of which the qualified project is a part or from any other revenue producing facility under the ownership or control of the qualified borrower, including, without limitation, the proceeds of a grant, gift, appropriation or loan, including, without limitation, the proceeds of a loan made by the Bank, investment earnings, payments to a reserve for capital or current expenses, proceeds of insurance or condemnation and proceeds from the sale or other disposition of property.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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 related to health care, education, affordable housing, workforce housing, homelessness and food security; and 2. Augments existing services, including, without limitation, the services provided pursuant to chapters 319 and 387 of NRS.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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 the following: 1. A road, railroad, bridge, tunnel, overpass, airport, mass transit, light or commuter rail, conduit, ferry, boat, vessel, parking facility, intermodal or multimodal system or any other mode of transport, including, without limitation, those utilizing autonomous technology, and any rights of way necessary for any eligible transportation facility. 2. Related or ancillary to, or used or useful to provide, operate, maintain or generate revenue for, a facility described in subsection 1, including, without limitation, administrative buildings and other buildings, structures, rest areas, maintenance yards, rail yards, ports of entry or storage facilities, vehicles, rolling stock, energy systems, control, communications and information systems, parking facilities and similar commercial facilities used for the support of or the transportation of persons, information or goods or other related equipment, items or property, including, without limitation, any other property that is needed to operate the facility. 3. All improvements, including equipment necessary to the full utilization of a transportation facility, including, without limitation, site preparation, roads and streets, sidewalks, water supply, outdoor lighting, belt line railroad sidings and lead tracks, bridges, causeways, terminals for railroad, automotive and air transportation and transportation facilities incidental to the project.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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 wastewater facilities, brackish or seawater desalination, aquifer recharge, alternative water supply, water recycling and drought mitigation projects; and 2. Augments the existing programs created pursuant to chapter 445A of NRS.

Nev. Rev. Stat. § 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 other financial assistance to qualified borrowers for the development, construction, repair, improvement, operation, maintenance, decommissioning and ownership of transportation facilities, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure, K-12 school facilities, social infrastructure and other infrastructure related to economic development as necessary for public purposes. 3. The Bank is administered by and operates under the direction of a Board of Directors consisting of: (a) The State Treasurer or his or her designee, who shall serve as Chair of the Board of Directors; (b) The Director of the Department of Business and Industry or his or her designee; (c) The Executive Director of the Office of Economic Development or his or her designee; (d) The following members appointed by the Majority Leader of the Senate: (1) One member who has knowledge, skill and experience relating to the housing or the hospitality industry; and (2) One member who represents the interests of organized labor within the building trades; (e) The following members appointed by the Speaker of the Assembly: (1) One member who has knowledge, skill and experience in banking; and (2) One member who represents the interests of Native Americans, selected after consulting with Indian tribes and tribal organizations; and (f) Two members who represent the general public, at least one of whom must reside in a county whose population is less than 100,000, appointed by the Governor. 4. Each member of the Board of Directors who is appointed pursuant to subsection 3 serves at the pleasure of the appointing authority. A person must not be appointed to the Board of Directors if he or she is currently serving as a Legislator. 5. A vacancy on the Board of Directors in an appointed position must be filled by the appointing authority in the same manner as the original appointment. 6. The Board of Directors shall elect annually from among its members a Vice Chair. 7. Five members of the Board of Directors constitute a quorum for the transaction of business, and the affirmative vote of at least five members of the Board of Directors is required to take action. 8. The members of the Board of Directors are public officers and are subject to all applicable provisions of law, including, without limitation, the provisions of chapter 281A of NRS. 9. A meeting of the Board of Directors must be conducted in accordance with the provisions of chapter 241 of NRS, except that the Board of Directors may hold a closed meeting or close a portion of a meeting to receive, examine or consider information which the Bank is required to keep confidential pursuant to NRS 226.796 . 10. Each member of the Board of Directors who is not otherwise an officer or employee of this State is entitled: (a) To receive $100 for each full day of attending a meeting of the Board of Directors; and (b) While engaged in the business of the Board of Directors, to receive the per diem allowance and travel expenses provided for state officers and employees generally. The per diem allowance and travel expenses provided to a member of the Board of Directors who is an officer or employee of this State or a political subdivision of this State must be paid by the state agency or political subdivision that employs him or her. 11. A member of the Board of Directors who is an officer or employee of this State or a political subdivision of this State must be relieved from his or her duties without loss of regular compensation so that he or she may prepare for and attend meetings of the Board of Directors and perform any work necessary to carry out the duties of the Board of Directors in the most timely manner practicable. A state agency or political subdivision of this State shall not require an officer or employee who is a member of the Board of Directors to: (a) Make up the time the member is absent from work to carry out his or her duties as a member of the Board of Directors; or (b) Take annual leave or compensatory time for the absence.

Nev. Rev. Stat. § 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 226.700 to 226.832 , inclusive. (b) Sue and be sued in the name of the Bank. (c) Have a seal and alter the same at the pleasure of the Board of Directors, but the failure to affix the seal does not affect the validity of an instrument executed on behalf of the Bank. (d) Make loans to qualified borrowers to finance all or part of the eligible costs of a qualified project. (e) Provide qualified borrowers with other financial assistance necessary to defray all or part of the eligible costs of a qualified project. (f) Acquire, hold and sell loan obligations at such prices and in such a manner as the Board of Directors deems advisable. (g) Enter into contracts, arrangements and agreements with qualified borrowers and other persons and execute and deliver all financing agreements and other instruments necessary or convenient to carry out the powers and duties of the Board of Directors. (h) Enter into agreements with a department, agency or instrumentality of the United States or governmental unit of this State or another state for the purpose of providing for the financing of qualified projects. (i) Establish: (1) Policies and procedures to govern the selection of qualified projects and the issuance and administration of loans and other financial assistance provided by the Bank; and (2) Fiscal controls and accounting procedures to ensure proper accounting and reporting by the Bank and qualified borrowers. (j) Acquire, by purchase, lease, donation or other lawful means, real or personal property and any interest therein. (k) Sell, convey, pledge, lease, exchange, transfer and dispose of all or any part of the property and assets of the Bank. (l) Procure insurance, guarantees, letters of credit and other forms of collateral or security or credit support for the payment of bonds or other securities issued by the Bank and the payment of premiums or fees on such insurance, guarantees, letters of credit and other forms of collateral or security or credit support. (m) Collect or authorize the trustee under any trust indenture that secures any bonds or other securities issued by the Bank to collect amounts due from a qualified borrower under any loan obligation owned by the Bank, including, without limitation, taking any lawful action required to obtain payment of any sums in default. (n) Unless restricted by the terms of an agreement with the holders of bonds or other securities issued by the Bank, consent to any modification of the terms of any loan obligations owned by the Bank, including, without limitation, the rate of interest, period of repayment and payment of any installment of principal or interest. (o) Borrow money through the issuance of bonds and other securities as provided in NRS 226.700 to 226.832 , inclusive. (p) Incur expenses to obtain accounting, management, legal or financial consulting and other professional services necessary to the operations of the Bank. (q) To the extent that money is available from public or private sources of administrative costs, pay any costs incurred for the administration of the operations of the Bank. (r) Establish advisory committees, which may include persons from the private sector with civil engineering, banking and financial expertise. (s) Procure insurance against losses in connection with the Bank’s property, assets or activities, including, without limitation, insurance against liability for any act of the Bank or its employees or agents, or establish cash reserves to enable the Bank to act as a self-insurer against such losses. (t) Impose and collect fees and charges in connection with the activities of the Bank. (u) Apply for, receive and accept from any source aid grants or contributions of money, property, labor or other things of value to be used to carry out the statutory purposes and powers of the Bank. (v) Enter into contracts, arrangements or agreements for the servicing and processing of financial agreements. (w) Accept and hold, with payment of interest, money deposited with the Bank. (x) Request technical advice, support and assistance pursuant to NRS 226.832 . (y) Do all other things necessary or convenient to exercise any power granted or reasonably implied by NRS 226.700 to 226.832 , inclusive. 2. Except as otherwise provided in NRS 226.700 to 226.832 , inclusive, the Bank may exercise any fiscal power granted to the Bank in NRS 226.700 to 226.832 , inclusive, without the review or approval of any other department, division or agency of the State or any political subdivision thereof, except for the Board of Directors. 3. In exercising the powers and performing the functions set forth in NRS 226.700 to 226.832 , inclusive, the members of the Board of Directors: (a) Must act in a commercially reasonable manner and in the interests of this State. For the purposes of this paragraph, the interests of this State include, without limitation, the public welfare and economy of this State and the long-term and short-term interests of this State. (b) May, unless a member of the Board of Directors has knowledge concerning a matter in question that would cause reliance thereon to be unwarranted, rely on information, opinions, reports, books of account or statements, including, without limitation, financial statements and other financial data, that are prepared or presented by: (1) One or more members of the Board of Directors or officers or employees of the Bank reasonably believed to be reliable and competent in the matters prepared or presented; (2) Counsel, public accountants, financial advisers, valuation advisers, investment bankers, engineers, architects or other persons as to matters reasonably believed to be within the professional or expert competence of the preparer or presenter; or (3) A committee on which the director or officer relying thereon does not serve, as to matters within the designated authority of the committee and matters on which the committee is reasonably believed to merit confidence. 4. This section does not authorize the Bank to be or conduct business as a: (a) Bank or trust company within the jurisdiction of chapters 657 to 671 , inclusive, of NRS or under the control of an agency of the United States or this State; or (b) Bank, banker or dealer in securities within the meaning of, or subject to the provisions of, any securities, securities exchange or securities dealers’ laws of the United States or of this State. 5. The Bank must, before accepting a deposit from any person or governmental unit, provide a notice to the depositor stating that the deposit is not insured by the Federal Deposit Insurance Corporation. 6. The provisions of titles 55 and 57 of NRS do not apply to the Bank.

Nev. Rev. Stat. § 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 unclassified service of the State and serves at the pleasure of the Governor. 2. The Executive Director shall administer, manage and conduct the business and affairs of the Bank subject to the direction of the Board of Directors, any conditions that the Board of Directors may from time to time prescribe or as delegated by the Board of Directors. Except as otherwise provided in this subsection, the Executive Director may exercise any power, function or duty conferred by law on the Bank in connection with the administration, management and conduct of the business and affairs of the Bank, including, without limitation: (a) Hiring, to the extent that money is available from public or private sources for administrative costs, such employees in either the classified or unclassified service of the State as are necessary to carry out the statutory purposes and powers of the Bank. (b) Entering into contracts concerning investments, guarantees or credit enhancements. (c) Establishing procedures, guidelines, criteria, terms, conditions or other requirements of any contract, bond, loan, grant or program in order to carry out the intents and purposes of the Bank in authorizing the contract, bond, loan, grant or other program. (d) Declining to guarantee any risk or to enter into any contract. (e) Reinsuring any risk or any part of any risk, as provided in NRS 226.799 . (f) Making rules for payments through the Bank and determining to whom and through whom the payments are to be made. (g) Investing and reinvesting any money belonging to the Bank. (h) Entering into any contract or agreement, executing any instrument, conducting all business and affairs and performing any act necessary or convenient to carrying out the statutory purposes and powers of the Bank. (i) Executing any instrument or performing any act necessary or convenient to carry out his or her duties pursuant to NRS 226.700 to 226.832 , inclusive. 3. The Executive Director and any employees hired pursuant to this section must be paid by the Bank from money allocated to the Bank and appropriated or authorized by the Legislature or the Interim Finance Committee.

Nev. Rev. Stat. § 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 Infrastructure Bank Fund is hereby created as an enterprise fund. The Fund is a continuing fund without reversion. 2. The Fund is administered by the Board of Directors. 3. The Board of Directors may establish accounts and subaccounts within the Fund and shall ensure that accounting for the Fund is performed in accordance with all applicable laws and regulations governing the use of funds. 4. Except as otherwise provided in subsection 7, all money received by the Bank pursuant to NRS 226.700 to 226.832 , inclusive, must be deposited in the Fund. 5. The Bank may accept for deposit into the Fund: (a) Any money appropriated by the Legislature or authorized for allocation by the Interim Finance Committee; (b) Federal funds made available to the State; (c) Gifts, grants, donations and contributions from a governmental unit, private entity or any other source; (d) Any money paid or credited to the Bank, by contract or otherwise, including, without limitation: (1) Payment of principal and interest on a loan or other financial assistance provided to a qualified borrower by the Bank; and (2) Interest earned from the investment or reinvestment of the Bank’s money pursuant to NRS 226.799 ; (e) Proceeds from the issuance of bonds or other securities pursuant to NRS 226.781 ; and (f) Any other lawful source of money that is made available to the Bank and is not already dedicated for another purpose. 6. The Bank shall comply with all applicable federal laws governing the use of federal funds, including, without limitation, statutes and regulations governing: (a) Any conditions or limitations on expenditures; (b) Reporting; and (c) The commingling of federal funds. 7. Earnings on balances in any federal accounts must be credited and invested in accordance with federal law. Earnings on any state and local accounts must be deposited in the Fund to the credit of the account that generates the earnings. 8. Money in the Fund may be used only: (a) For the capitalization of the Bank; and (b) To carry out the statutory purposes and powers of the Bank. 9. A local government may use money from any source that is made available to the local government for the purposes of developing, constructing, repairing, improving, operating, maintaining, decommissioning or owning a transportation facility, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure, K-12 school facility, social infrastructure or other infrastructure related to economic development or for any other purpose set forth in NRS 226.700 to 226.832 , inclusive, to make a gift, grant, donation or contribution to the Bank or to satisfy any obligation owed by the local government to the Bank, including, without limitation, payments of principal and interest.

Nev. Rev. Stat. § 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 circumstances.

1. A qualified borrower that wishes to obtain a loan or other financial assistance from the Bank to develop, construct, repair, improve, operate, maintain, decommission or own an eligible project must apply to the Bank in the manner prescribed by the Bank. 2. The Executive Director shall: (a) Review each application and determine whether the application is for an eligible project; and (b) At the request of the Board of Directors, submit information to the Board of Directors concerning any eligible project. 3. The Board of Directors shall, from time to time, designate qualified projects from among the eligible projects. The Board of Directors may give preference to an eligible project that has demonstrated local financial support. 4. The Bank may provide a loan and other financial assistance to a qualified borrower to pay for all or part of the eligible costs of a qualified project. The term of the loan or other financial assistance may not exceed the anticipated useful life of the qualified project. A loan or other financial assistance may be provided in anticipation of reimbursement for or direct payment of all or part of the eligible costs of a qualified project. For purposes of this subsection, the anticipated useful life of a K-12 school facility must not be deemed to be longer than 50 years. 5. The Bank shall determine the form and content of a loan application, financing agreement or loan obligation, including, without limitation: (a) The period for repayment and the rate or rates of interest on a loan; and (b) Any nonfinancial provisions included in a financing statement or loan obligation, including, without limitation, terms and conditions relating to the regulation and supervision of a qualified project. Ê Such form and content must substantially conform with the documents typically used for such transactions. 6. The terms and conditions set forth in a financing agreement or loan obligation for a loan or other financial assistance provided by the Bank using money from a federal account must comply with all applicable federal requirements. 7. If a loan is made to a school district, the Bank may fix the rate of interest of the loan at 0 percent if the school district demonstrates to the Board of Directors that the school district has financial constraints that would not allow the school district to repay a loan with a rate of interest fixed according to the standards otherwise used by the Bank.

Nev. Rev. Stat. § 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 agreement with the Bank and may be required to issue a loan obligation to the Bank. Except as otherwise provided by specific statute, a qualified borrower entering into a financing agreement with the Bank or issuing a loan obligation to the Bank may perform any act, take any action, adopt any proceedings and make and carry out any contract or agreement with the Bank as may be agreed to by the Bank and the qualified borrower for carrying out the purposes contemplated by NRS 226.700 to 226.832 , inclusive. 2. A qualified borrower may, in addition to any authorization set forth in this section, use any authorization granted by any other statute that allows the qualified borrower to borrow money and issue obligations in obtaining a loan or other financial assistance from the Bank to the extent determined necessary or useful by the qualified borrower in connection with any financing agreement or the issuance, securing or sale of a loan obligation to the Bank. 3. A qualified borrower may: (a) Receive, apply, pledge, assign and grant security interests in its project revenues to secure its loan obligations as provided in NRS 226.700 to 226.832 , inclusive; and (b) Impose and collect fees, rates, rents, assessments and other charges of general or special application for the operation of a qualified project, the system of which the qualified project is a part and any other revenue producing facilities from which the qualified borrower derives project revenues to meet its loan obligations under a financing agreement or to otherwise provide for the development, construction, repair, improvement, operation, maintenance, decommissioning or ownership of a qualified project.

Nev. Rev. Stat. § 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 which has not already been made public or is not otherwise publicly available, other than: (1) The amount of the loan or other financial assistance being sought; (2) The name of each person in any submission or disclosure; (3) The basis for the loan or other financial assistance being sought; (4) The terms or proposed terms of the loan or other financial assistance being sought; (5) Any information asserted in the submission or disclosure that is, or which the Bank asserts to be, necessary or relevant to the decision of the Bank to grant or deny the loan or other financial assistance; and (6) The amount of the loan or other financial assistance granted; or (b) Which the Bank is required to keep confidential pursuant to federal law. 2. The Bank shall disclose the information set forth in subsection 1: (a) Upon the lawful order of a court of competent jurisdiction; (b) To any person upon the request of the person who is the subject of the information; (c) Upon the completion of the loan or other financial assistance, excluding any proprietary information; or (d) In the course of the necessary administration of this chapter. 3. The Bank may disclose the information set forth in subsection 1 to an authorized agent of an agency of the United States Government, a state, a political subdivision of a state, a foreign government or a political subdivision of a foreign government which finances infrastructure projects. 4. A person seeking an order of a court of competent jurisdiction for the disclosure of information described in subsection 1 must submit a motion in writing to the court requesting the information. At least 10 days before submitting the motion, the person must provide notice to the Bank, the Attorney General and all persons who may be affected by the disclosure of the information. The notice must: (a) Include, without limitation, a copy of the motion and all documents in support of the motion that are to be filed with the court; and (b) Be delivered in person or by certified mail to the last known address of each person to whom notice must be provided. 5. As used in this section: (a) “Confidential business information” means any information relating to the amount or source of any income, profits, losses or expenditures of a person, including, without limitation, data relating to cost or price submitted to the Bank in support of a proposal. The term does not include the amount of a bid or proposal. (b) “Proprietary information” means any trade secret or confidential business information that is contained in a proposal submitted to the Bank.

Nev. Rev. Stat. § 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 mandatory or optional prepayment, made to finance a qualified project, and to provide insurance or reinsurance or reserves, or portions thereof, or the yield therefrom, established to secure bonds or other securities issued to fund those loans or reserves. 2. The Bank may: (a) Arrange an agreement for insurance or reinsurance with a user, mortgagor, lending institution, insurer or any other entity authorized to arrange such agreements in this State; and (b) Enter into an agreement for insurance or reinsurance with any insurer authorized to reinsure or insure such risks in this State. 3. The Bank may fix a rate or rates of premium for insurance or reinsurance. The rates are not required to be uniform and may reflect any risk and classification of risk that the Bank determines to be reasonable. 4. The Bank may exercise any other power that is necessary or incidental to insurance, reinsurance and related matters. 5. The Bank shall make reasonable provisions for the security of loans made by the Bank, and any insurance, reinsurance and other financing arrangements negotiated by the Bank. 6. Any insurance or reinsurance provided by the Bank does not constitute a debt or pledge of the faith and credit of the State or any subdivision of the State.

Nev. Rev. Stat. § 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, facilities and revenues of one or more qualified projects financed by the Bank; 2. A credit enhancement, including, without limitation, a letter of credit, bond insurance or surety bond provided by a private financial institution; and 3. Insurance, reinsurance or a guarantee provided by the Bank itself.

Nev. Rev. Stat. § 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 by the Bank pursuant to NRS 226.799 : (a) Does not constitute a debt, liability or obligation of this State or any political subdivision thereof, or a pledge of the faith and credit of this State or any political subdivision thereof, but is payable solely from the revenues or assets of the Bank; and (b) Must contain on the face thereof a statement to the effect that the Bank is not obligated to pay the obligation or any interest thereon except from the revenues or assets, if any, pledged therefor and that neither the faith and credit nor the taxing power of this State or any political subdivision thereof is pledged to the payment of the principal of or the interest on the obligation. 2. Except as otherwise provided in subsection 3, this section does not prohibit the Bank from: (a) Pledging the full faith and credit of the Bank for the satisfaction of any obligation to a third person made by the Bank; or (b) Issuing a bond guarantee or credit enhancement for bonds issued by a qualified borrower. 3. Notwithstanding any provision in NRS 226.700 to 226.832 , inclusive, to the contrary, the Bank shall not act as a surety or guarantor for a private utility or any other private company, association or corporation.

Nev. Rev. Stat. § 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 the Bank fails to remit in full any amount due to the Bank on the date on which the amount is due under the terms of any note or other loan obligation given to the Bank by the qualified borrower, the Bank shall notify the appropriate state agencies or officers, including, without limitation, the State Controller, who shall withhold all or a portion of any state money or other money administered by the State and its agencies, boards and instrumentalities that is allotted or appropriated to the qualified borrower and apply an amount necessary to the payment of the amount due. 2. This section does not authorize the State or an agency, board or instrumentality thereof, or the State Controller, to withhold any money allocated or appropriated to a qualified borrower if to do so would violate the terms of: (a) An appropriation by the Legislature; (b) Any federal law; (c) A contract to which the State is a party; (d) A contract to which a governmental unit or qualified borrower is a party; (e) A judgment of a court that is binding upon the State; or (f) The provisions of NRS 387.121 to 387.12468 , inclusive, governing apportionments and allowances from the State Education Fund.

Nev. Rev. Stat. § 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 scope of their duties or the exercise of their authority pursuant to NRS 226.700 to 226.832, inclusive.

Nev. Rev. Stat. § 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 conduct any hearing or other proceeding before performing any act authorized in NRS 226.700 to 226.832, inclusive.

Nev. Rev. Stat. § 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.

Nev. Rev. Stat. § 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 forever be and remain free and exempt from taxation by this State or any subdivision thereof. 2. The provisions of subsection 1 do not apply to the tax on estates imposed pursuant to the provisions of chapter 375A of NRS or the tax on generation-skipping transfers imposed pursuant to the provisions of chapter 375B of NRS.

Nev. Rev. Stat. § 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 obligation bonds or other bonds that the qualified borrower is otherwise lawfully authorized to issue.

Nev. Rev. Stat. § 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 ownership of transportation facilities, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure, K-12 school facilities, social infrastructure or other infrastructure related to economic development and the issuance of bonds and other securities by this State or a political subdivision thereof, and such other provisions must be given effect to the extent that those provisions do not conflict with the provisions of NRS 226.700 to 226.832 , inclusive. If there is a conflict between such other provisions and the provisions of NRS 226.700 to 226.832 , inclusive, the provisions of NRS 226.700 to 226.832 , inclusive, control. 2. The provisions of NRS 338.013 to 338.090 , inclusive, apply to any contract for construction work on a qualified project if all or part of the costs of the qualified project are paid for using a loan or other financial assistance from the Bank. The Bank, the qualified borrower, any contractor who is awarded a contract or enters into an agreement to perform construction work on the qualified project, and any subcontractor who performs any portion of the construction work shall comply with the provisions of NRS 338.013 to 338.090 , inclusive, in the same manner as if a public body had undertaken the qualified project or had awarded the contract.

Nev. Rev. Stat. § 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 Director of the Legislative Counsel Bureau for transmittal to: (1) If the report is prepared in an even-numbered year, the next regular session of the Legislature; or (2) If the report is prepared in an odd-numbered year, the Legislative Commission.

Nev. Rev. Stat. § 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 Resources, the Office of Energy or any other governmental unit may, to the extent that money is available for that purpose, provide technical advice, support and assistance to the Bank, including, without limitation, the Board of Directors.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-226.htmlFetched: 10/4/2026

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