Senate Amendment to Senate Bill No. 369 (BDR 30-644)
Proposed by: Committee on Government Affairs
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 the bill as a whole by renumbering sections 1 through 8 as sections 3 through 10 and adding new sections designated sections 1 and 2, following the enacting clause, to read as follows:
"Section 1. Chapter 349 of NRS is hereby amended by adding thereto the provisions set forth as sections 2 and 3 of this act.
Sec. 2.
1. The director may provide financing for a project pursuant to this section if:(a) The financing is limited in amount and purpose to the payment of the costs associated with:
(1) The acquisition, refurbishing, replacement and installation of equipment for the project; and
(2) The issuance of bonds pursuant to this section;
(b) The total amount of the bonds issued pursuant to this section for a particular project does not exceed $2,500,000;
(c) The director determines that the bonds will:
(1) Be sold only to qualified institutional buyers, as defined in Rule 144A of the Securities and Exchange Commission, 17 C.F.R. § 230.144A, in minimum denominations of at least $100,000; or
(2) Receive a rating within one of the top four rating categories of Moody’s Investors Service, Inc., Standard and Poor’s Rating Services or Fitch IBCA, Inc.;
(d) The director makes the findings set forth in paragraphs (a) to (e), inclusive, (g) and (h) of subsection 2 of NRS 349.580, and the governing body of the city or county where the project is to be located approves the findings of the director; and
(e) The director complies with the guidelines established pursuant to subsection 2.
2. The board shall establish guidelines for the provision of financing for a project pursuant to this section.".
Amend section 1, page 1, by deleting lines 1 through 3 and inserting:
"Sec. 3.
1. Except as otherwise provided in subsection 2, the director, the".Amend section 1, page 1, by deleting line 8 and inserting:
"
inclusive, and section 2 of this act.".Amend section 1, page 2, line 6, by deleting "
inclusive." and inserting:"
inclusive, and section 2 of this act.".Amend sec. 2, page 2, line 19, by deleting "
section 1" and inserting:"
sections 2 and 3".Amend sec. 4, page 2, line 39, by deleting "
section 1" and inserting:"
sections 2 and 3".Amend sec. 5, page 3, line 27, by deleting "
349.640," and inserting:"
349.640 and section 2 of this act,".Amend sec. 7, page 5, line 27, by deleting "
section 1" and inserting:"
sections 2 and 3".Amend sec. 8, page 6, line 20, by deleting "
section 1" and inserting:"
sections 2 and 3".Amend sec. 8, page 7, line 1, after "
349.590" by inserting:"
and section 2 of this act".Amend the bill as a whole by renumbering sec. 9 as sec. 12 and adding a new section designated sec. 11, following sec. 8, to read as follows:
"Sec. 11. 1. The director shall not provide any financing pursuant to section 2 of this act until the state board of finance has established the guidelines required pursuant to subsection 2 of that section.
2. For the purposes of this section, "director" has the meaning ascribed to it in NRS 349.440.".