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Senate advances $133 million attainable housing measure, adds bond requirement and income targeting
Summary
The Nevada Senate adopted Amendment No. 990 to Assembly Bill 5 40 and passed the bill, which (as described on the floor) includes a $133 million appropriation to the Nevada Attainable Housing Account and a $50 million bond requirement; final Senate vote was 15-6.
Assembly Bill 5 40, a wide-ranging attainable-housing measure from the Assembly Committee on Government Affairs, moved quickly through the Nevada Senate after the chamber adopted Amendment No. 990 and later suspended rules to consider the bill as an emergency measure.
Senator Flores explained Amendment No. 990 on the floor, saying it “prioritizes single family homes that are affordable for households that have a total monthly gross income of not more than a 50% of the median monthly gross household income for the county,” renames the housing advocate within the Housing Division, revises provisions related to a statewide low-income housing database, and “requires the issuance of $50,000,000 in bond in the next biennium for a tenable housing infrastructure.” Flores also described an appropriation of $133,000,000 to the Nevada Attainable Housing Account administered by the Housing Division to fund attainable housing projects.
After an extended series of floor procedures, a roll-call vote was held. The Senate recorded 15 yes votes and 6 no votes; the chamber declared SB/AB 5 40 (Assembly Bill 540) had received the constitutional majority and ordered it to the Assembly.
Why it matters: the measure (as described on the floor) would direct significant state resources toward attainable housing, target some benefits to households at or below 50% of county median monthly gross income, and mandate new bond issuance to fund infrastructure. That combination could affect housing finance, county housing programs and future bond authority.
Next steps: The bill was advanced to the Assembly with the adopted amendment; implementation details, including precise program rules, bonding logistics and departmental administration, will be determined in subsequent administrative actions and statutory language in the enrolled bill.
Ending: The Senate’s adoption of the amendment and passage puts a substantial housing appropriation and a bonding directive into the next stage of legislative consideration.
