SB528

Senate Bill No. 528–Committee on Government Affairs

(On Behalf of Legislative Committee to Study the
Distribution Among Local Governments of
Revenue From State and Local Taxes)

March 22, 1999

____________

Referred to Committee on Government Affairs

SUMMARY—Makes various changes to provisions regarding redevelopment of communities. (BDR 22-982)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State or on Industrial Insurance: No.

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).

AN ACT relating to redevelopment; revising the requirements for the area that may be included in a redevelopment area; prohibiting the repeal, amendment or modification of the provisions governing redevelopment in any manner that would impair any bonds or securities issued pursuant to those provisions; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. Chapter 279 of NRS is hereby amended by adding thereto a

1-2 new section to read as follows:

1-3 The faith of the state is hereby pledged that NRS 279.382 to 279.685,

1-4 inclusive, any law supplemental or otherwise pertaining thereto, and any

1-5 other act concerning the bonds or other securities, taxes or the pledged

1-6 revenues, or any combination of such securities, such taxes and such

1-7 revenues will not be repealed or amended or otherwise directly or

1-8 indirectly modified in such a manner as to impair adversely any

1-9 outstanding bonds or securities until all such bonds and securities have

1-10 been discharged in full or provision for their payment and redemption

1-11 has been made fully, including, without limitation, the known minimum

1-12 yield from the investment or reinvestment of money pledged therefor in

1-13 federal securities.

2-1 Sec. 2. NRS 279.384 is hereby amended to read as follows:

2-2 279.384 As used in NRS 279.382 to 279.685, inclusive, and section 1

2-3 of this act, unless the context otherwise requires, the words and terms

2-4 defined in NRS 279.386 to 279.414, inclusive, have the meanings ascribed

2-5 to them in those sections.

2-6 Sec. 3. NRS 279.519 is hereby amended to read as follows:

2-7 279.519 1. A redevelopment area need not be restricted to buildings,

2-8 improvements or lands which are detrimental or inimical to the public

2-9 health, safety or welfare, but may consist of an area in which such

2-10 conditions predominate and injuriously affect the entire area. A

2-11 redevelopment area may include, in addition to blighted areas, lands,

2-12 buildings or improvements which are not detrimental to the public health,

2-13 safety or welfare, but whose inclusion is found necessary for the effective

2-14 redevelopment of the area of which they are a part.

2-15 2. At least 75 percent of the area included within a redevelopment

2-16 area must be improved land and may include, without limitation:

2-17 (a) Public land upon which public buildings have been erected or

2-18 improvements have been constructed.

2-19 (b) Land on which an abandoned mine, landfill or other similar use
2-20 is located and which is surrounded by or directly abuts the improved

2-21 land.

2-22 3. The area included within a redevelopment area may be contiguous

2-23 or noncontiguous.

2-24 [~~3.]~~ 4. The taxable property in a redevelopment area must not be

2-25 included in any subsequently created redevelopment area until at least 50

2-26 years after the effective date of creation of the first redevelopment area in

2-27 which the property was included.

2-28 5. As used in this section, "improved land" means land that contains

2-29 structures which:

2-30 (a) Are used for residential, commercial, industrial or governmental

2-31 purposes; and

2-32 (b) Have been connected to water facilities, sewer facilities or roads,

2-33 or any combination thereof,

2-34 and any areas related to such structures, including, without limitation,

2-35 landscaping areas, parking areas, parks and streets.

2-36 Sec. 4. The amendatory provisions of this act do not apply to a

2-37 redevelopment plan that exists on July 1, 1999.

2-38 Sec. 5. This act becomes effective on July 1, 1999.