AB 334 — Revises provisions relating to affordable housing. (BDR 22-850)

Bill Text

• Introduced As Introduced Current pdf

Compared against the Nevada Revised Statutes as published AI-generated reading aid — verify against the official bill.

The bill authorizes governing bodies to accept payments or impose linkage fees to fund affordable housing development.

• 1. Except as otherwise provided in subsections 2 and 3, a governing body may: (a) Accept a payment of money in lieu of the performance of an obligation related to the development of affordable housing imposed upon a developer by the governing body; or (b) Impose a linkage fee on any residential, commercial or industrial development for the purpose of assisting in the development of affordable housing that the governing body determines will be necessary as a result of the development. Such determination must be based on a finding that there is a reasonable relationship between the new development and the need for the affordable housing.

  This adds a new section allowing governing bodies to accept payments or impose fees specifically for affordable housing.

• 2. A governing body may accept a payment of money or impose a linkage fee pursuant to subsection 1 only if authority for such action has been adopted by ordinance as part of the governing body’s affordable housing policy.

  This establishes that any fees or payments must be authorized by an ordinance as part of an affordable housing policy.

• 3. A linkage fee imposed by a governing body: (a) Must not exceed: (1) For an industrial development, $5 per square foot; (2) For a commercial development, $3 per square foot; (3) For a multifamily residential dwelling, $1.50 per square foot; (4) For a single-family residential dwelling that is 4,000 square feet or more, $1.50 per square foot; and (5) For a single-family residential dwelling that is 1,500 square feet or more but less than 4,000 square feet, $0.75 per square foot. (b) Must not be imposed for the development of: (1) A public or private educational institution; (2) A religious institution; (3) A multifamily development that includes less than 10 individual dwelling units; (4) An owner-occupied small business that is less than 5,000 square feet; and (5) A single-family residential dwelling that is less than 1,500 square feet.

  This details the limits and exemptions for the linkage fees that can be imposed.

• 4. Any payment of money or linkage fee received pursuant to subsection 1 must be deposited into a trust fund established by the governing body and used only to pay for the development of affordable housing in the city or county, as applicable.

  This mandates that all fees or payments collected are to be deposited into a specific trust fund for affordable housing development.

Action History

1. April 10, 2021

   (Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)

2. March 19, 2021

   From printer. To committee.

3. March 18, 2021

   Read first time. Referred to Committee on Government Affairs. To printer.

Sponsors

• Elaine H. Marzola · Cosponsor
• Shondra Summers-Armstrong · Primary

Subjects