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AB224 • 2025
Provides for the issuance of bonds to assist certain school districts in financing capital improvements. (BDR S-688)
AN ACT relating to education; requiring the State Board of Finance to issue general obligation bonds to make grants to certain school districts to finance capital improvements; and providing other matters properly relating thereto. Close title AN ACT relating to education; requiring the State Board of Finance to issue general obligation bonds to make grants to certain school districts to finance capital improvements; and providing other matters properly relating thereto.
Education
Enacted
This bill passed the Legislature and reached final enactment based on the latest official action.
- Sponsor
- View 1 Primary Sponsors Close Primary Sponsors Assemblymember Erica Mosca
- Last action
- Official status
- Approved by the Governor.
Chapter 415. (See full list below)
- Effective date
- Not listed
Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Provides for the issuance of bonds to assist certain school districts in financing capital improvements. (BDR S-688)
Provides for the issuance of bonds to assist certain school districts in financing capital improvements.
What This Bill Does
- Provides for the issuance of bonds to assist certain school districts in financing capital improvements.
- (BDR S-688)
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.
Amendments
These notes stay tied to the official amendment files and metadata from the legislature.
Plain English: 2025 Session (83rd) A AB224 126
PAG/SES - Date: 4/3/2025
A.B.
- 2025 Session (83rd) A AB224 126
PAG/SES - Date: 4/3/2025
A.B.
- No.
- 224—Provides for the issuance of bonds to assist certain school districts
in financing capital improvements.
- (BDR S-688)
Page 1 of 4 *A_AB224_126*
Amendment No.
Bill History
-
2025-02-03
Nevada Electronic Legislative Information System
Approved by the Governor.
Chapter 415. (See full list below)
Official Summary Text
Provides for the issuance of bonds to assist certain school districts in financing capital improvements. (BDR S-688)
Current Bill Text
Read the full stored bill text
- 83rd Session (2025)
Assembly Bill No. 224 –Assemblymembers Mosca; DeLong,
D’Silva, Flanagan, Gurr, Hansen, Jackson, Kasama and
Nguyen
CHAPTER..........
AN ACT relating to education; requiring the State Board of Finance
to issue general obligation bonds to make grants to certain
school districts to finance capital improvements; and
providing other matters properly relating thereto.
Legislative Counsel’s Digest:
Existing law creates the Fund to Assist Sch ool Districts in Financing Capital
Improvements and requires the Director of the Office of Finance to administer the
Fund. (NRS 387.333) Under existing law, the board of trustees of a school district
is required to submit, with any application for a grant of money from the Fund,
proof that the combined ad valorem tax rate of the county is at the limit imposed by
law and that one of the following additional emergency conditions exists on the
grounds of a school within the school district: (1) at least one bu ilding has been
condemned; (2) at least one of the facilities is unsuitable for use due to certain
conditions; or (3) one of the facilities is in such a condition that the costs of
renovating the facility would exceed 40 percent of the cost of constructing a new
facility. (NRS 387.3335) This bill requires the State Board of Finance to issue
$100,000,000 in general obligation bonds for credit to the Fund to Assist School
Districts in Financing Capital Improvements. This bill requires any proceeds of the
bonds to be used by the Director to make grants from the Fund to school districts in
a county whose population is less than 15,000.
EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. 1. The State Board of Finance shall issue general
obligation bonds of the State of Nevada in a total face amount of not
more than $100,000,000 pursuant to NRS 349.150 to 349.364,
inclusive. The proceeds of the bonds issued pursuant to this section
must be deposited with the State Treasurer for credit to the Fund to
Assist School Districts in Financing Capital Improvements created
pursuant to NRS 387.333 and used by the Director of the Office of
Finance to make grants pursuant to NRS 387.3335 to school
districts in a county whose population is less than 15,000.
2. As used in this section, “proceeds” means amounts received
from the sale of an issue of the general obligation bonds and any
accrued interest thereon.
Sec. 2. This act becomes effective on July 1, 2025.
20 ~~~~~ 25