Senate Amendment to Senate Bill No. 363 First Reprint (BDR 40-799)
Proposed by: Committee on Finance
Amendment Box:
Amends: Summary: Title: Preamble: Joint Sponsorship:
ASSEMBLY ACTION
Initial and Date | SENATE ACTION Initial and DateAdopted Lost | Adopted Lost
Concurred In Not | Concurred In Not
Receded Not | Receded Not
Amend sec. 5, page 1, by deleting lines 16 and 17 and inserting:
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2. Is not owned, managed or controlled by a person or governmental entity subject to a pending investigation or ongoing enforcement action of the division with respect to that real property; and".Amend sec. 18, page 6, by deleting lines 16 through 18 and inserting:
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2. A lender to a prospective purchaser who has filed an application to participate in the program pursuant to section 12 of this act or a lender who forecloses his security interest in property pursuant to NRS 40.430 to 40.450, inclusive, or 107.080 to 107.100, inclusive, and within a reasonable period after the foreclosure, not to exceed 2 years, sells, transfers or conveys the property to a prospective purchaser who has filed an application to participate in the program pursuant to section 12 of this act is not a responsible party solely as a result of:(a) Foreclosing a security interest in the property; or
(b) Making a loan to the prospective purchaser if the loan:
(1) Is to be used for acquiring property or removing or remediating hazardous substances on property; and
(2) Is secured by the property that is to be acquired or on which is located the hazardous substances that are to be removed or remediated.
".