SB 402 Nevada Senate · 2025 Regular Session

Provides for the creation of restoration improvement districts for building restoration projects. (BDR 22-332)

SB 402 allows counties and cities to create "restoration improvement districts" around qualifying historic buildings (at least 50 years old) to fund their restoration. The bill authorizes local governments to pledge property tax revenue collected within these districts to developers, subject to a 20-year deed restriction preventing non-restricted business operations on the restored property. Developers must enter a written agreement with the municipality, and the district must meet specific criteria, including the building’s age and historical character. This bill directly affects developers of qualifying historic restoration projects and aims to incentivize preservation through local tax-based financing. (Note: Bill is pending, last action April 2025.)

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

Governor

Introduced Mar 17, 2025 Last action Jun 3, 2025

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What changed between versions

As Introduced → Reprint 1 · 3 edits

MINOR

SB 402 was amended to add new co-sponsors and update the Legislative Counsel's Digest to clarify how property tax pledges work. The bill now explicitly allows municipalities to adopt ordinances creating restoration improvement districts and pledges property taxes to fund building restoration projects for structures at least 50 years old that haven't been used for business for at least 10 years.

Scope change

The bill's scope expanded to include additional co-sponsors and clarified the tax pledge mechanism, though the core eligibility criteria for building restoration projects remained largely the same with minor wording adjustments to the business operation clause.

TECHNICAL

Added four new co-sponsors (Dickman, Gray, Gurr, and O'Neill) to the bill's joint sponsors list.

Updated the Legislative Counsel's Digest to clarify that municipalities can adopt ordinances creating districts and pledge property taxes, with specific exclusions for taxes levied by public bodies that opt out.

ELIGIBILITY

Modified the eligibility criteria for building restoration projects to specify that buildings must not have had business operations for at least 10 years, except for operations necessary to maintain a privileged license issued by local government.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 24, 2025

Upper · Passed

From printer. To engrossment. Engrossed. First reprint. To committee.

upper

Apr 21, 2025

Upper · Passed

From committee: Amend, and do pass as amended. Placed on Second Reading File. Notice of eligibility for exemption. Read second time. Amended. (Amend. No. 494.) Taken from General File. Re-referred to Committee on Finance. Exemption effective. To printer.

upper

Mar 19, 2025

Upper · Passed

From printer. To committee.

upper

3 primary · 0 co-sponsors