Nevada 2023 Regular Session Status: Enacted Bipartisan · 11 D · 2 R cosponsors

SB 305 — Provides for the establishment of a retirement savings program for private sector employees. (BDR 31-933)

Last action — Chapter 461.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced March 16, 2023. Enacted.

Signed by Governor Joe Lombardo (Republican) on June 13, 2023.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 78% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 17 sponsors

    4 primary, 13 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (11 D · 2 R) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

833 added · 835 removed

833 line(s) added, 835 removed.

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EXEMPT (Reprinted with amendments adopted on April 19, 2023) FIRST REPRINT S.B.
Senate Bill No.
305 SENATE BILL NO .
305–Senators D.
305–SENATORS D.
Harris, Spearman, Hansen, Neal;
H ARRIS , PEARMAN , HANSEN , N EAL;
Daly, Lange, Ohrenschall, Scheible and Stone Joint Sponsors:
DALY , LANGE , OHRENSCHALL , CHEIBLE AND STONE M ARCH 16, 2023 ____________ Referred to Committee on Government Affairs SUMMARY—Provides for the establishment of a retirement savings program for private sector employees.
Assemblymen Carter, D’Silva, Duran, González, Nguyen, Taylor, Thomas and Torres CHAPTER..........
(BDR 31-933) FISCAL NOTE:
EffEffect on the State:
Yes.No.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
making an appropriation to the Office of the State Treasurer for costs related to the administration of the Program;
requiring the Board to conduct a study on the feasibility of including independent contractors in the Program;
Legislative Counsel’s Digest:
LegExisting federal law provides for individual retirement accounts and individual retirement annuities by which persons may save money for retirement under favorable income tax treatment.
retirement annuities by which persons may save money for retirement underindividual favorable income tax treatment.
§§ 408, 408A) This bill establishes the Nevada Employee Savings Trust under the direction of a board of trustees with the power to establish a similar program and to encourage private employees to establish such accounts.
§§ 408, 408A) This bill establishes the Nevada Employee Savings Trust under the direction of a board of trustees with the establish such accounts.ilar program and to encourage private employees to Section 19 of this bill creates the Board of Trustees of the Nevada Employee Savings Trust and establishes its membership.
- *SB305_R1* – 2 – Savings Trust and establishes its membership.
(1) design, establish and operate the Nevada Employee Savings Trust Program;
(1) design, establish and operate the Nevada Employee establishment and operation of the Program and to take such other actionsr the necessary or desirable to establish and operate the Program.
and (2) adopt regulations, rules and procedures for the establishment and operation of the Program and to take such other actions necessary or desirable to establish and operate the Program.
Section 21 of this bill requires the State Treasurer to provide staff support to the Board within the limits of appropriations and authorizes the State Treasurer to provide administrative support to the Board.
Section 21 of this bill requires the State Treasurer to provide staff support to the Board within the limits of appropriations and authorizes the State Treasurer to proSection 22 of this bill provides that an act or undertaking of the Board does not constitute a debt of the State of Nevada, or any political subdivision thereof, or a pledge of the full faith and credit of the State of Nevada, or of any political subdivision thereof, and is payable solely from the assets controlled by the Board.
constitute a debt of the State of Nevada, or any political subdivision thereof, or a - 82nd Session (2023) – 2 – pledge of the full faith and credit of the State of Nevada, or of any political subdivision thereof, and is payable solely from the assets controlled by the Board.
(1) that covered employers must automatically enroll all covered employees in the Program or in a similar program offered by a trade Program or, if applicable, the similar program offered by a trade association or chamber of commerce;
(1) that covered employers must automatically enroll all association or chamber of commerce, unless a covered employee opts out of the Program or, if applicable, the similar program offered by a trade association or chamber of commerce;
Section 24 of this bill creates the Nevada Employee Savings Trust be deposited in the Fund and requires the Board to use money in the Fund solely tot pay the administrative costs and expenses of the Board and the Program.
Section 24 of this bill creates the Nevada Employee Savings Trust Administrative Fund in the State Treasury, specifies the sources of money that must be deposited in the Fund and requires the Board to use money in the Fund solely to pay the administrative costs and expenses of the Board and the Program.
Section 26 of this bill creates the Nevada Employee Savings Trust as an instrumentality of the State and requires the Board to appoint a Trustee of the Trust.
instrumentality of the State and requires the Board to appoint a Trustee of the Trust.
Section 26 requires that the assets of all Individual Retirement Accounts established by covered employees through the Program be allocated to the Trust benefits to the covered employees and defraying the reasonable expenses of the Board, Program and Trust.
Section 26 requires that the assets of all Individual Retirement Accounts established by covered employees through the Program be allocated to the Trust and invested, managed and administered for the exclusive purposes of providing benefits to the covered employees and defraying the reasonable expenses of the Board, Program and Trust.
covered employers for the consequences of various decisions made by employeesto or the Board in connection with the Program, including, for example, an employee’s decision to participate in or opt out of the Program, an investment decision made by the participant or the Board or a loss, failure to realize a gain or other adverse consequence incurred by a person as a result of participating in the - *SB305_R1* – 3 – Program.
Section 28 of this bill provides a grant of immunity from civil liability to covered employers for the consequences of various decisions made by employees or the Board in connection with the Program, including, for example, an employee’s decision to participate in or opt out of the Program, an investment other adverse consequence incurred by a person as a result of participating in the or Program.
Section 29 of this bill absolves the State and any employee or officer thereof, the Board and any member of the Board or employee thereof and the Program from any responsibility or civil liability for the actions of certain other persons in with provisions of the Internal Revenue Code, the payment of benefits or a loss,y failure to realize a gain or other adverse consequence incurred by a person as a result of participating in the Program.
Section 29 of this bill absolves the State and any employee or officer thereof, the Board and any member of the Board or employee thereof and the Program from any responsibility or civil liability for the actions of certain other persons in connection with the Program, including, for example, a person’s failure to comply with provisions of the Internal Revenue Code, the payment of benefits or a loss, failure to realize a gain or other adverse consequence incurred by a person as a result of participating in the Program.
Section 29 also provides that the debts, contracts and obligations of the Board, Program or Trust are not the debts, contracts and obligations of the State, and neither the faith and credit nor the taxing power of the State is pledged directly or indirectly to the payment of the debts, contracts and obligations of the Board, Program or Trust.
Section 29 also provides that the debts, contracts and obligations of the Board, Program or Trust are not the debts, contracts - 82nd Session (2023) – 3 – and obligations of the State, and neither the faith and credit nor the taxing power of the State is pledged directly or indirectly to the payment of the debts, contracts and obligations of the Board, Program or Trust.
certain other persons involved in the administration of the Trust are fiduciaries with respect to the participants in the Program.
Section 30 of this bill provides that members of the Board, the Trustee and certain other persons involved in the administration of the Trust are fiduciaries with respSection 31 of this bill prohibits members of the Board, its staff and persons who serve as administrators of the Program from engaging in certain financial transactions in connection with the Program.
Section 31 of this bill prohibits members of the Board, its staff and persons who serve as administrators of the Program from engaging in certain financial transactions in connection with the Program.
Section 32 of this bill requires the Board to obtain an annual independent audit of the Board, Program and Trust and to annually submit audited financial reports to the Governor, State Controller and Legislature.
Section 32 of this bill requires the Board to obtain an annual independent audit of the Board, Program and Trust and to annually submit audited financial reports to theSection 35 of this bill requires, with certain exceptions, the Board to establish the Program and implement its provisions so that covered employees are able to make contributions to an Individual Retirement Account through the Program beginning on July 1, 2025.
Section 35 of this bill requires, with certain exceptions, the Board to establish make contributions to an Individual Retirement Account through the Programe to beginning on July 1, 2025.
Section 34.5 of this bill makes an appropriation to the Office of the State Treasurer for costs related to the administration of the Program.
Section 36.5 of this bill requires the Board to:
(1) conduct a study on the report of the findings of the study to the Director of the Legislative Counsel Bureau for transmittal to the 83rd Session of the Nevada Legislature.
EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
- *SB305_R1* – 4 – Sec.
- 82nd Session (2023) – 4 – Sec.
“Contribution rate” means the percentage of a covered employee’s compensation that is withheld from the covered employee’s compensation and paid to the Individual Retirement Account established or maintained for the covered employee through the Program.
“Contribution rate” means the percentage of a covered employee’s compensation that is withheld from the covered employee’s compensation and paid to the Individual Retirement Account established or maintained for the covered empSec.
Sec.
2.
3.
Has been in business for at least 36 months;
and 3.
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“Individual Retirement Account” means an individual retirement account and an individual retirement annuity established under section 408 or 408A of the Internal Revenue Code, 26 U.S.C.
“Individual Retirement Account” means an individual retirement account and an individual retirement - 82nd Session (2023) – 5 – Revenue Code, 26 U.S.C.
§ 408 or 408A.
§ 408 or 408A.or 408A of the Internal Sec.
- *SB305_R1* – 5 – Sec.
“Tax-favored retirement plan” means a retirement plan that is tax-qualified under or is described in and satisfies the requirements of section 401(a), 401(k), 403(a), 403(b), 408(k) or 408(p) of the Internal Revenue Code, 26 U.S.C.
“Tax-favored retirement plan” means a retirement plan that is tax-qualified under or is described in and satisfies the 408(p) of the Internal Revenue Code, 26 U.S.C.
(c) One member, appointed by the Governor, who represents employers;
(c) One member, appointed by the Governor, who represents emp(d) One member, appointed by the Governor, who has experience in the field of investments;
(d) One member, appointed by the Governor, who is a representative of an association that represents employees;
(e) One member, appointed by the Majority Leader of the Senate, who represents retirees;
(e) One member, appointed by the Governor, who has experience in the field of investments;
and (f) One member, appointed by the Speaker of the Assembly, who has experience in small business.
(f) One member, appointed by the Majority Leader of the Senate, who represents retirees;
and (g) One member, appointed by the Speaker of the Assembly, who has experience in small business.
- *SB305_R1* – 6 – 4.
- 82nd Session (2023) – 6 – 4.
The State Treasurer or the designee of the State Treasurer shall serve as the Chair of the Board.
The State Treasurer or the designee of the State Treasurer sha6.
6.
seThe Board shall meet at the call of the Chair as frequently as required to perform its duties.
The Board shall meet at the call of the Chair as frequently as required to perform its duties.
or (c) Jointly administer the Program with the qualified employee savings trust program of one or more other states;
or savings trust program of one or more other states;lified employee 3.
3.
6.
- 82nd Session (2023) – 7 – 6.
Develop and implement an outreach plan to gain input and disseminate information regarding the Program and retirement - *SB305_R1* – 7 – and financial education in general to employees, employers and other constituents in this State;
Develop and implement an outreach plan to gain input and disseminate information regarding the Program and retirement and financial education in general to employees, employers and other constituents in this State;
7.
employer must make the Program available to a covered employee upon first becoming a covered employer or covered employee;
Determine the number of days during which a covered employer must make the Program available to a covered employee upon first becoming a covered employer or covered employee;
An officer, agency, division or department that enters into such an intergovernmental agreement with the Board shall collaborate with any other officer, agency, division or department of the State as necessary to provide such outreach, technical assistance or compliance services to the Board.
An officer, agency, division or department that enters into such an intergovernmental agreement with the Board shall collaborate as necessary to provide such outreach, technical assistance orState compliance services to the Board.
Sec.
- 82nd Session (2023) – 8 – Sec.
Each covered employer shall automatically enroll the covered employee in the Program or in a similar program offered - *SB305_R1* – 8 – by a trade association or chamber of commerce, unless the employee elects to opt out of the Program, or if applicable, the similar program offered by a trade association or chamber of commerce.
Each covered employer shall automatically enroll the by a trade association or chamber of commerce, unless theffered employee elects to opt out of the Program, or if applicable, the similar program offered by a trade association or chamber of commerce.
A covered employer must deposit a covered employee’s withheld contributions under the Program with the Trustee in such manner as is determined by the Board, but in no case later than 10 business days after the date such amounts otherwise would have been paid to the covered employee.
A covered employer must deposit a covered employee’s withheld contributions under the Program with the Trustee in such manner as is determined by the Board, but in no case later would have been paid to the covered employee.unts otherwise 7.
7.
(b) Instructions about how to obtain additional information about the Program;
- 82nd Session (2023) – 9 – (b) Instructions about how to obtain additional information about the Program;
(c) A description of the federal and state income tax consequences of an Individual Retirement Account, which may consist of or include the disclosure statement required to be distributed by the Trustee by the Internal Revenue Code and the Treasury Regulations adopted thereunder;
(c) A description of the federal and state income tax consequences of an Individual Retirement Account, which may distributed by the Trustee by the Internal Revenue Code and the Treasury Regulations adopted thereunder;
- *SB305_R1* – 9 – (d) A statement that covered employees seeking financial advice should contact their own financial advisers and that covered employers are not in a position to provide financial advice and that covered employers are not liable for decisions covered employees make concerning the Program;
(d) A statement that covered employees seeking financial advice should contact their own financial advisers and that covered employers are not in a position to provide financial advice and that covered employers are not liable for decisions covered employees make concerning the Program;
(2) It is the covered employee’s responsibility to monitor such matters;
(2) It is the covered employee’s responsibility to monitor such m(3) Neither the State nor the covered employer will have any liability with respect to any failure of the covered employee to be eligible to make Individual Retirement Account contributions or for making any contribution in excess of the maximum Individual Retirement Account contribution.
and (3) Neither the State nor the covered employer will have any liability with respect to any failure of the covered employee to be eligible to make Individual Retirement Account contributions or for making any contribution in excess of the maximum Individual Retirement Account contribution.
(b) Making an investment election with respect to the covered employee’s Individual Retirement Account established or maintained through the Program, including a description of the default investment fund;
- 82nd Session (2023) – 10 – (b) Making an investment election with respect to the covered employee’s Individual Retirement Account established or maintained through the Program, including a description of the default investment fund;
(c) Making transfers, rollovers, withdrawals and other distributions from the covered employee’s Individual Retirement Account;
distributions from the covered employee’s Individual Retirement Account;
- *SB305_R1* – 10 – 11.
11.
(c) Any gifts, donations, grants or other money designated for the Administrative Fund from the State, or any unit of federal or local government, or any other person, firm, partnership, corporation or other entity solely for deposit into the Administrative Fund, whether for investment or administrative expenses;
the Administrative Fund from the State, or any unit of federal or local government, or any other person, firm, partnership, corporation or other entity solely for deposit into the Administrative Fund, whether for investment or administrative expenses;
The Board may, to enable or facilitate the start up and continuing operation, maintenance, administration and management of the Program until the Board determines that the Program has accumulated sufficient balances and is able to generate sufficient funding for the Program to be financially self-sustaining:
The Board may, to enable or facilitate the start up and continuing operation, maintenance, administration and management of the Program until the Board determines that the Program has accumulated sufficient balances and is able to - 82nd Session (2023) – 11 – generate sufficient funding for the Program to be financially self-sustaining:
(a) Borrow money from the State, any unit of federal, state or local government or any other person, firm, partnership, corporation or entity;
(a) Borrow money from the State, any unit of federal, state or local government or any other person, firm, partnership, cor(b) Enter into long-term procurement contracts with one or more financial providers if the Board determines that the fee structure of a contract allows or assists the Program to minimize or avoid the need to borrow money pursuant to paragraph (a) or to rely upon general assets of the State.
or (b) Enter into long-term procurement contracts with one or more financial providers if the Board determines that the fee structure of a contract allows or assists the Program to minimize or avoid the need to borrow money pursuant to paragraph (a) or to rely upon general assets of the State.
- *SB305_R1* – 11 – (b) Be repaid solely from the revenues of the Program;
(b) Be repaid solely from the revenues of the Program;
The Board shall appoint an institution qualified to act as a trustee of Individual Retirement Account trusts or an insurance company that issues annuity contracts pursuant to section 408 of the Internal Revenue Code, 26 U.S.C.
The Board shall appoint an institution qualified to act as a company that issues annuity contracts pursuant to section 408 of the Internal Revenue Code, 26 U.S.C.
The underlying investments of each investment fund must be diversified so as to minimize the risk of large losses under any circumstances.
The underlying investments of each investment fund must be diversified so as to minimize the risk of - 82nd Session (2023) – 12 – large losses under any circumstances.
The Board may allow covered employees to allocate assets of their Individual Retirement Accounts among such investment funds and, in such case, the Board also may designate an investment fund as a default investment for the Individual Retirement Accounts of covered employees who do not make an investment choice.
The Board may allow covered employees to allocate assets of their Individual Retirement Accounts among such investment investment fund as a default investment for the Individual Retirement Accounts of covered employees who do not make an investment choice.
An - *SB305_R1* – 12 – investment fund may not invest in any bond, debt instrument or other security issued by the State.
An investment fund may not invest in any bond, debt instrument or other security issued by the State.
The Trustee shall be subject to directions of the Board or of an investment adviser pursuant to this section and shall otherwise have no responsibility for the selection, retention or disposition of the investments or assets of the Trust.
The Trustee shall be subject to directions of the Board or otherwise have no responsibility for the selection, retention or disposition of the investments or assets of the Trust.
The State, Program, Board, any member of the Board or any covered employer shall not guaranty any investment, rate of return, or interest on amounts held in the Trust, an investment fund or any Individual Retirement Account.
The State, Program, Board, any member of the Board or any covered employer shall not guaranty any investment, rate of return, or interest on amounts - 82nd Session (2023) – 13 – Retirement Account.
Except to the extent necessary to administer the Program, personally identifiable information relating to individual participants in the Program, including, without limitation, the name, physical and electronic mail address, telephone number and other personally identifiable information of the participant, and - *SB305_R1* – 13 – information relating to individual accounts established or maintained through the Program, including, without limitation, the identity or amount of any investment, contribution or earnings attributable to an account, is confidential and must be maintained as confidential, unless the person who provides the information or is the subject of the information expressly agrees in writing to the disclosure of the information.
Except to the extent necessary to administer the Program, personally identifiable information relating to individual participants in the Program, including, without limitation, the name, physical and electronic mail address, telephone number and other personally identifiable information of the participant, and maintained through the Program, including, without limitation, the identity or amount of any investment, contribution or earnings attributable to an account, is confidential and must be maintained as confidential, unless the person who provides the information or is the subject of the information expressly agrees in writing to the disclosure of the information.
(c) The administration, investment, investment returns or investment performance of the Program, including, without limitation, any interest rate or other rate of return on any contribution or account balance, provided the covered employer or other employer played no role;
(c) The administration, investment, investment returns or investment performance of the Program, including, without limitation, any interest rate or other rate of return on any contribution or account balance, provided the covered employer or oth(d) The design of the Program or the benefits paid to participants;
(d) The design of the Program or the benefits paid to participants;
or (f) Any loss, failure to realize any gain or any other adverse consequences, including, without limitation, any adverse tax consequences or loss of favorable tax treatment, public assistance or other benefits, incurred by any person as a result of participating in the Program.
or (f) Any loss, failure to realize any gain or any other adverse consequences, including, without limitation, any adverse tax - 82nd Session (2023) – 14 – consequences or loss of favorable tax treatment, public assistance or other benefits, incurred by any person as a result of participating in the Program.
A covered employer or other employer must not be deemed to be a fiduciary in relation to the Program.
A covered employer or other employer must not be deemed to Sec.
Sec.
1.
1.ary The State and any employee or officer thereof, the Board and any member of the Board or employee thereof and the Program:
The State and any employee or officer thereof, the Board and any member of the Board or employee thereof and the Program:
- *SB305_R1* – 14 – (c) Do not and shall not guarantee any interest rate or other rate of return on or investment performance of any contribution or account balance;
(c) Do not and shall not guarantee any interest rate or other rate of return on or investment performance of any contribution or account balance;
The debts, contracts and obligations of the Board, Program or Trust are not the debts, contracts and obligations of the State, and neither the faith and credit nor the taxing power of the State is pledged directly or indirectly to the payment of the debts, contracts and obligations of the Board, Program or Trust.
The debts, contracts and obligations of the Board, Program and neither the faith and credit nor the taxing power of the State, is pledged directly or indirectly to the payment of the debts, contracts and obligations of the Board, Program or Trust.
Sec.
- 82nd Session (2023) – 15 – Sec.
Directly or indirectly have any interest in the making of any investment under the Program or in any gains or profits accruing from such an investment;
Directly or indirectly have any interest in the making of accruing from such an investment;or in any gains or profits 2.
2.
Each year, a full audit of the books and accounts of the Board, Program and Trust pertaining to those activities, operations, receipts and expenditures, personnel, services and facilities must be conducted by a certified public accountant and must include, without limitation, direct and indirect costs attributable to the use of outside consultants, independent contractors and any other - *SB305_R1* – 15 – persons who are not state employees for the administration of the Program.
Each year, a full audit of the books and accounts of the Board, Program and Trust pertaining to those activities, operations, receipts and expenditures, personnel, services and facilities must be conducted by a certified public accountant and must include, without limitation, direct and indirect costs attributable to the use of outside consultants, independent contractors and any other persons who are not state employees for the administration of the Program.
Not later than August 1 of each year, the Board shall submit to the Governor, the State Controller and the Director of the Legislative Counsel Bureau for transmittal to the Legislature or, if the Legislature is not in session, to the Legislative Commission, an audited financial report, prepared in accordance with generally accepted accounting principles, detailing the activities, operations and receipts and expenditures of the Board, Program and Trust during the immediately preceding calendar year.
Not later than August 1 of each year, the Board shall the Legislative Counsel Bureau for transmittal to the Legislature or, if the Legislature is not in session, to the Legislative Commission, an audited financial report, prepared in accordance with generally accepted accounting principles, detailing the activities, operations and receipts and expenditures of the Board, Program and Trust during the immediately preceding calendar year.
Sec.
- 82nd Session (2023) – 16 – Sec.
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.0397, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270, 116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280, 119A.280, 119A.653, 119A.677, 119B.370, 119B.382, 120A.640, 120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3923, 209.3925, 209.419, 209.429, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 224.240, 226.300, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 232.1369, 233.190, 237.300, 239.0105, 239.0113, 239.014, 239B.026, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 239C.420, - *SB305_R1* – 16 – 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.0978, 268.490, 268.910, 269.174, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 284.4086, 286.110, 286.118, 287.0438, 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.5757, 293.870, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.2242, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.0075, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.033, 391.035, 391.0365, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 393.045, 394.167, 394.16975, 394.1698, 394.447, 394.460, 394.465, 396.1415, 396.1425, 396.143, 396.159, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 414.280, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.4018, 432B.407, 432B.430, 432B.560, 432B.5902, 432C.140, 432C.150, 433.534, 433A.360, 439.4941, 439.4988, 439.840, 439.914, 439A.116, 439A.124, 439B.420, 439B.754, 439B.760, 439B.845, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 442.774, 445A.665, 445B.570, 445B.7773, 447.345, 449.209, 449.245, 449.4315, 449A.112, 450.140, 450B.188, 450B.805, 453.164, 453.720, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.535, 480.545, 480.935, 480.940, 481.063, 481.091, 481.093, 482.170, 482.368, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484A.469, 484B.830, 484B.833, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 598A.420, 599B.090, 603.070, 603A.210, 604A.303, 604A.710, 612.265, 616B.012, 616B.015, 616B.315, 616B.350, 618.341, 618.425, 622.238, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 629.069, 630.133, 630.2671, 630.2672, 630.2673, 630.30665, 630.336, 630A.327, 630A.555, 631.332, 631.368, 632.121, 632.125, 632.3415, 632.3423, 632.405, 633.283, 633.301, 633.4715, 633.4716, 633.4717, 633.524, 634.055, 634.1303, 634.214, 634A.169, 634A.185, 635.111, 635.158, - *SB305_R1* – 17 – 636.262, 636.342, 637.085, 637.145, 637B.192, 637B.288, 638.087, 638.089, 639.183, 639.2485, 639.570, 640.075, 640.152, 640A.185, 640A.220, 640B.405, 640B.730, 640C.580, 640C.600, 640C.620, 640C.745, 640C.760, 640D.135, 640D.190, 640E.225, 640E.340, 641.090, 641.221, 641.2215, 641.325, 641A.191, 641A.217, 641A.262, 641B.170, 641B.281, 641B.282, 641C.455, 641C.760, 641D.260, 641D.320, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.126, 652.228, 653.900, 654.110, 656.105, 657A.510, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 678A.470, 678C.710, 678C.800, 679B.122, 679B.124, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.060, 687A.115, 687B.404, 687C.010, 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.325, 706.1725, 706A.230, 710.159, 711.600, section 27 of this act, sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes of Nevada 2013 and unless otherwise declared by law to be confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.0397, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413,2, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270, 116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280, 119A.280, 119A.653, 119A.677, 119B.370, 119B.382, 120A.640, 120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3923, 209.3925, 209.419, 209.429, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 224.240, 226.300, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 232.1369, 233.190, 237.300, 239.0105, 239.0113, 239.014, 239B.026, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 239C.420, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.0978, 268.490, 268.910, 269.174, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.5757, 293.870, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.2242, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.0075, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.033, 391.035, 391.0365, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 393.045, 394.167, 394.16975, 394.1698, 394.447, 394.460, 394.465, 396.1415, 396.1425, 396.143, 396.159, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, - 82nd Session (2023) – 17 – 408.5484, 412.153, 414.280, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.4018, 432B.407, 432B.430, 432B.560, 432B.5902, 432C.140, 432C.150, 433.534, 439A.124, 439B.420, 439B.754, 439B.760, 439B.845, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 442.774, 445A.665, 445B.570, 445B.7773, 447.345, 449.209, 449.245, 449.4315, 449A.112, 450.140, 450B.188, 450B.805, 453.164, 453.720, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.535, 480.545, 480.935, 480.940, 481.063, 481.091, 481.093, 482.170, 482.368, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484A.469, 484B.830, 484B.833, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 598A.420, 599B.090, 603.070, 603A.210, 604A.303, 604A.710, 612.265, 616B.012, 616B.015, 616B.315, 616B.350, 618.341, 618.425, 622.238, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 629.069, 630.133, 630.2671, 630.2672, 630.2673, 630.30665, 630.336, 630A.327, 630A.555, 631.332, 631.368, 632.121, 632.125, 632.3415, 632.3423, 632.405, 633.283, 633.301, 633.4715, 633.4716, 633.4717, 633.524, 634.055, 634.1303, 634.214, 634A.169, 634A.185, 635.111, 635.158, 636.262, 636.342, 637.085, 637.145, 637B.192, 637B.288, 638.087, 638.089, 639.183, 639.2485, 639.570, 640.075, 640.152, 640A.185, 640C.745, 640C.760, 640D.135, 640D.190, 640E.225, 640E.340, 641.090, 641.221, 641.2215, 641.325, 641A.191, 641A.217, 641A.262, 641B.170, 641B.281, 641B.282, 641C.455, 641C.760, 641D.260, 641D.320, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.126, 652.228, 653.900, 654.110, 656.105, 657A.510, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 678A.470, 678C.710, 678C.800, 679B.122, 679B.124, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.060, 687A.115, 687B.404, 687C.010, 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, - 82nd Session (2023) – 18 – 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.325, 706.1725, 706A.230, 710.159, 711.600, section 27 of this act, sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
- *SB305_R1* – 18 – 4.
public record in an electronic format by means of an electronicy of a medium.
If requested, a governmental entity shall provide a copy of a public record in an electronic format by means of an electronic medium.
(a) Shall not refuse to provide a copy of that public record in the medium that is requested because the officer, employee or agent has already prepared or would prefer to provide the copy in a different medium.
- 82nd Session (2023) – 19 – medium that is requested because the officer, employee or agent hasthe already prepared or would prefer to provide the copy in a different medium.
34.5.
1.
There is hereby appropriated from the State General Fund to the Office of the State Treasurer for costs related to the administration of the Nevada Employee Savings Trust Program established pursuant to section 20 of this act the following sums:
For the Fiscal Year 2023-2024..................................$669,491 For the Fiscal Year 2024-2025..................................$535,074 2.
The Office of the State Treasurer shall repay the sums appropriated by subsection 1 as soon as the Office has received sufficient money for the operation of the Program.
remaining at the end of the respective fiscal years must not be committed for expenditure after June 30 of the respective fiscal years by the entity to which the appropriation is made or any entity to which money from the appropriation is granted or otherwise transferred in any manner, and any portion of the appropriated money remaining must not be spent for any purpose after September 20, 2024, and September 19, 2025, respectively, by either the entity to which the money was appropriated or the entity to which the money was subsequently granted or transferred, and must be reverted to the State General Fund on or before September 20, 2024, and September 19, 2025, respectively.
Sec.
Except as otherwise provided in this section, the Board of Trustees of the Nevada Employee Savings Trust created by section 19 of this act shall establish the Nevada Employee Savings Trust Program pursuant to section 20 of this act and implement its provisions so that covered employees are able to make contributions to an Individual Retirement Account through the Program beginning on July 1, 2025.
Except as otherwise provided in this section, the Board of Trustees of the Nevada Employee Savings Trust created by section 19 of this act shall establish the Nevada Employee Savings Trust Program pursuant to section 20 of this act and implement its to an Individual Retirement Account through the Program beginningns on July 1, 2025.
3.
- 82nd Session (2023) – 20 – 3.
§§ 1001 et seq.
§§ et seq.
- *SB305_R1* – 19 – 4.
4.
The Board shall not implement a provision of the Program that authorizes an arrangement by which an employer facilitates access for an employee to contribute to an Individual Retirement Account by means of payroll deduction if the Board determines that the arrangement is an employee pension benefit plan within the meaning of section 3(2) of the Employee Retirement Income Security Act of 1974, 29 U.S.C.
The Board shall not implement a provision of the Program that authorizes an arrangement by which an employer facilitates access for an employee to contribute to an Individual Retirement Account by means of payroll deduction if the Board determines that meaning of section 3(2) of the Employee Retirement Incomen the Security Act of 1974, 29 U.S.C.
As soon as practicable on or after the effective date of this section, the Governor, Majority Leader of the Senate and Speaker of the Assembly shall appoint the members of the Board of Trustees of the Nevada Employee Savings Trust pursuant to section 19 Sec.
As soon as practicable on or after the effective date of this section, the Governor, Majority Leader of the Senate and Speaker of the Assembly shall appoint the members of the Board of Trustees of the Nevada Employee Savings Trust pursuant to section of this act.
Sec.
36.5.
1.
The Board of Trustees of the Nevada Employee Savings Trust created by section 19 of this act shall conduct a study on the feasibility of including independent contractors in the Nevada Employee Savings Trust Program established pursuant to section 20 of this act.
2.
Not later than December 31, 2024, the Board shall prepare and submit a report of the findings of the study conducted pursuant to subsection 1 to the Director of the Legislative Counsel Bureau for transmittal to the 83rd Session of the Nevada Legislature.
Sec.
Sections 1 to 35, inclusive, and 37 of this act, become effective:
Sections 34.5 and 36.5 of this act become effective on July 1, 2023.
3.
Sections 1 to 34, inclusive, 35 and 37 of this act, become effective:
H - *SB305_R1*
~~~~~ 23 - 82nd Session (2023)
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Amendments

4 amendments

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Action History

  1. Chapter 461.

  2. Approved by the Governor.

  3. Enrolled and delivered to Governor.

  4. Assembly Amendment Nos. 854 and 863 concurred in. To enrollment.

  5. In Senate.

  6. From printer. To reengrossment. Reengrossed. Fourth reprint. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 35, Nays: 7.) To Senate.

  7. Read third time. Amended. (Amend. No. 863.) To printer.

  8. From printer. To reengrossment. Reengrossed. Third reprint. Taken from General File. Placed on General File for next legislative day.

  9. From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 854.) To printer.

  10. From printer. To re-engrossment. Re-engrossed. Second reprint. To Assembly. In Assembly. Read first time. Referred to Committee on Government Affairs. To committee.

  11. From committee: Amend, and do pass as amended. Placed on General File. Read third time. Amended. (Amend. No. 783.) Reprinting dispensed with. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 15, Nays: 5, Excused: 1.) To printer.

  12. From printer. To engrossment. Engrossed. First reprint. To committee.

  13. Read second time. Amended. (Amend. No. 465.) Taken from General File. Re-referred to Committee on Finance. Exemption effective. To printer.

  14. From committee: Amend, and do pass as amended. Placed on Second Reading File.

  15. Notice of eligibility for exemption.

  16. From printer. To committee.

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

Sponsors

Sponsorship breakdown

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4 sponsors · 13 co-sponsors · 50 not signed on

Sponsors (4)

Co-sponsors (13)

Not signed on (50)

50 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
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Frequently asked questions

Who sponsors SB 305?
SB 305 is sponsored by Hansen, Ira (Republican), Neal, Dina (Democratic), Daly, Skip (Democratic), Lange, Roberta (Democratic), Ohrenschall, James (Democratic), Scheible, Melanie (Democratic), Stone, Jeff (Republican), Carter, Max E., II (Democratic), D'Silva, Reuben (Democratic), González, Cecelia (Democratic), Nguyen, Duy (Democratic), Taylor, Angela D. (Democratic), Clara Thomas, Torres-Fossett, Selena (Democratic), Duran, Bea, Pat Spearman, and Harris, Dallas.
What is the current status of SB 305?
This bill has been enacted into law. Introduced March 16, 2023. Enacted.
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