EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

1-1 Section 1. Chapter 37 of NRS is hereby amended by adding thereto a

1-2 new section to read as follows:

1-3 All proceedings in all courts brought under this chapter to exercise the

1-4 right of eminent domain take precedence over all other causes and

1-5 actions not involving the public interest, to the end that all such

1-6 proceedings must be quickly heard and determined.

1-7 Sec. 2. NRS 37.120 is hereby amended to read as follows:

1-8 37.120 1. To assess compensation and damages as provided in NRS

1-10 except that [:

2-1 (a) If the action is not tried within 2 years after the date of the

2-2 commencement of the action and the delay is caused primarily by the

2-3 plaintiff, the date of valuation is the date of the first service of the summons

2-4 or the date of the trial, whichever results in the greater compensation and

2-5 damages.

2-6 (b) If] , if the action is not tried within 2 years after the date of the

2-7 [commencement of the action,] first service of the summons, and the court

2-8 makes a written finding that the delay is caused primarily by the

2-9 [defendant or, if there is more than one defendant, the total delay caused by

2-10 all the defendants,] plaintiff or is caused by congestion or backlog in the

2-11 calendar of the court, the date of valuation is [the date of the first service

2-12 of summons or] the date of the actual commencement of the trial . [,

2-13 whichever results in the lesser compensation and damages.] If a new trial is

2-14 ordered by a court, the date of valuation used in the new trial must be the

2-15 date of valuation used in the original trial.

2-16 2. No improvements put upon the property after the date of the service

2-17 of the summons may be included in the assessment of compensation or

2-18 damages, regardless of the date of valuation.

2-19 3. As used in this section, "primarily" means the greater amount,

2-20 quantity or quality of acts of the plaintiff or the defendant or, if there is

2-21 more than one defendant, the total delay caused by all the defendants, that

2-22 would cause the date of the trial to be continued past 2 years after the

2-23 [commencement of the action.] date of the first service of the summons.

2-24 Sec. 3. NRS 37.175 is hereby amended to read as follows:

2-25 37.175 1. Except as otherwise provided in this section, the plaintiff

2-26 shall pay interest on the final judgment on the difference between the

2-27 amount deposited pursuant to NRS 37.100 or 37.170 and the sum of the

2-28 amount awarded for the taking and any damages awarded for the severance

2-29 of the property, excluding costs and attorney’s fees, [at the following rates:

2-30 (a) From the date of the commencement of the action to the date of the

2-31 final judgment, at a rate equal to the rate of interest fixed for 1-year United

2-32 States treasury bills on the date of the commencement of the action, as

2-33 reported in the "Federal Reserve Bulletin" published by the Board of

2-34 Governors of the Federal Reserve System or another commonly used

2-35 business or financial publication. The rate of interest must be adjusted

2-36 annually thereafter on the anniversary date of the commencement of the

2-37 action. The interest must be compounded annually.

2-38 (b) From the date of the final judgment to the date the judgment is

2-39 satisfied, at a rate equal to the rate of interest fixed for 1-year United States

2-40 treasury bills on the date of the final judgment, as reported in the "Federal

2-41 Reserve Bulletin" published by the Board of Governors of the Federal

2-42 Reserve System or another commonly used business or financial

2-43 publication. The rate of interest must be adjusted annually thereafter on the

3-1 anniversary date of the final judgment. The interest must be compounded

3-2 annually.] from the date of the first service of the summons until the date

3-3 the judgment is satisfied, at the rate provided in NRS 17.130.

3-4 2. The plaintiff is not required to pay interest on any amount deposited

3-5 pursuant to the provisions of NRS 37.100 or 37.170.

3-6 3. No interest is required to be paid for the period from the date of a

3-7 trial which is continued past 2 years after the [commencement of the

3-8 action,] date of the first service of the summons, until the date of entry of

3-9 judgment, if the continuance was caused primarily by the defendant or, if

3-10 there is more than one defendant, the total delay caused by all the

3-11 defendants. As used in this subsection , "primarily" means the greater

3-12 amount, quantity or quality of acts of the plaintiff or the defendant or, if

3-13 there is more than one defendant, the total delay caused by all defendants ,

3-14 that would cause the trial to be continued past 2 years after the

3-15 [commencement of the action.] date of the first service of the summons.