Nevada’s ‘attainable housing’ bill approved by Senate
CARSON CITY — New additions proposed in Gov. Joe Lombardo’s policy proposal to address the state’s housing crisis include a new tier of affordable housing and bond funding for infrastructure near new attainable housing projects.
The amendment to Assembly Bill 540, brought by state Sen. Edgar Flores, D-Las Vegas, includes $50 million in bonds. It also creates “tier one affordable housing” for households whose monthly gross income is no more than 30 percent of the area median income.
Central to the housing bill is the $133 million “attainable housing fund” – amended from its original proposal of $200 million – that would provide state support for attainable housing projects. It also expands the definitions of affordable housing to allow it to benefit people with up to 150 percent of area median income and expediting processing for attainable housing developments, among other policy proposals.
A separate amendment that was considered, then rescinded, would have limited the total number of residential units that businesses can purchase in one calendar year to no more than 2,000 — a significant increase from the 100 units proposed in Senate Bill 391. That bill by state Sen. Dina Neal, D-North Las Vegas, stalled last week.
Changes to AB 540, one of five bills from the Republican governor, came with about three hours left in the part-time Legislature’s session.
The Senate voted 15-6, with Republican Senators John Steinbeck and Lori Rogich joining Democrats in support.
The bill now heads to the governor’s desk for approval.
Contact McKenna Ross at mross@reviewjournal.com. Follow @mckenna_ross_ on X.
