Modification or early termination of funded project.

Nev. Rev. Stat. § 439A.389
in effect
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1. If a grantee significantly modifies a project that has received funding pursuant to NRS 439A.350 to 439A.398 , inclusive, or if there are changes in the availability of funding for such a project, the grantee shall immediately notify the Authority and submit to the Authority a revised plan for the project. Upon receiving such notification, the Authority may, to ensure that money from the Account is used efficiently and effectively in a manner that complies with NRS 439A.374 , adjust the terms of the funding agreement, including, without limitation, the terms for disbursement and the amount of funding, or suspend or terminate the funding agreement. 2. If a grantee terminates a project that has received funding pursuant to NRS 439A.350 to 439A.398 , inclusive, before the date of termination specified in the applicable funding agreement or if such a project remains inactive for 12 consecutive months, the grantee shall: (a) Notify the Authority; and (b) Submit to the Authority a revised plan for the project. 3. Upon receiving notice pursuant to subsection 2 of the early termination or inactivity of a project, the Authority may: (a) Place a lien or other security interest on assets related to the project until at least half of the goals and indicators of performance included in the applicable funding agreement are met; (b) Reallocate unspent money to other approved projects or deposit unspent money in the Account to support grants for other projects pursuant to NRS 439A.350 to 439A.398 , inclusive; (c) Require the grantee to take corrective action within 60 days; (d) Suspend or terminate the grant; (e) Require the grantee to repay money previously disbursed; or (f) Take any combination of the actions described in paragraphs (a) to (e), inclusive. 4. Not later than 60 days after the early termination of a project for which a grantee received a grant pursuant to NRS 439A.350 to 439A.398 , inclusive, a grantee shall submit to the Authority a report which includes, without limitation: (a) The total amount of money spent on the project; (b) The amount of money disbursed from the Account that was spent on the project; (c) The reasons for the early termination of the project; and (d) A proposed plan to repay money disbursed from the Account, if required by the Authority.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-439A.htmlFetched: 10/4/2026