AB224
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.
Introduction Date
Monday, February 3, 2025
Primary Sponsor
View 1 Primary Sponsors Close Primary Sponsors Assemblymembe
Public exhibits
4
Support 3 · Opp 0 · Neutral 0
Auditor findings
0
recusal 0 · QPQ 0
AN ACT relating to education; requiring the State Board of Finance to issue general obligation bonds to make grants to c
Existing law creates the Fund to Assist School 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 building 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. Close digest Existing law creates the Fund to Assist School 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
NELIS exhibits (4 on file)
Support (3)
- Amanda Morgan — Esq, and Executive Director, Education Nevada Now (Letter)
- Chris Daly — Nevada State Education Association (Statement)
- Amanda Morgan — Executive Director, Educate Nevada Now (Statement)
Bill text + amendments: view on NELIS →