Nevada Department of Business and Industry

The council meeting reviewed the preliminary 2026 volume CAP distribution for various Nevada counties and incorporated cities, detailing the state's total allocation and individual jurisdiction breakdowns. Additional discussions covered the Internal Revenue Bulletin 2026-15, which includes updates on tax-related guidance, bond volume limits, and resident population figures. Furthermore, the meeting presented an annual report on the estimated population of Nevada towns, cities, and counties as of July 1, 2025, to support state certification processes.

The council received status reports regarding Private Activity Bond Cap utilization. The Nevada Housing Division provided an update on single-family mortgage revenue bond programs, the impact of the Worker Advantage program on homebuyer assistance, and the growing demand for the multifamily bond program. Additionally, the Nevada Rural Housing Authority reported on the performance of the Launchpad program, detailing its partnership with the Housing Division to provide affordable homeownership opportunities through loans and down payment assistance for rural families.

The Council discussed the 2025 Volume CAP allocation for the State of Nevada and jurisdictions, and reviewed estimates for the 2026 volume bond cap. The Nevada Housing Division presented a report on carry forward volume, progress on multifamily programs, the implementation of a recycled bond program to address financing gaps, and support for essential workers through the Worker Advantage Program. Additionally, the Nevada Rural Housing Authority provided an update on loan commitments for rural families, and the Director and staff discussed outreach efforts to entities interested in utilizing the bond program.

The workshop focused on the review of proposed regulation R074-25, specifically addressing the implementation of uniform standards for licensing, investigations, discipline, internal controls, and board governance. Key discussion topics included concerns regarding potential conflicts with existing statutes, the administrative and financial burden imposed by new reporting requirements, and the ambiguity of certain regulatory language. Stakeholders highlighted issues regarding duplication of existing reporting obligations, the scope of audit requirements, the impact of website and historical record maintenance, and the need for greater clarity in performance evaluation criteria and statutory authority alignment.

The meeting commenced with a roll call confirming a lack of quorum. Following public comments, the motion to approve the October 29, 2024 meeting minutes was postponed due to the absence of a quorum. Key discussions included a report on the 2025 Volume CAP Allocation, detailing the total amount of $424,770,710.00 to be split between the Director's Office and Nevada Jurisdictions. Reports were presented by the Nevada Housing Division, which requested the Director's allocation to support state housing initiatives. The Director subsequently granted this request, fully allocating his 2024 Volume CAP to the Nevada Housing Division. The Nevada Rural Housing Authority also provided a report highlighting a partnership with the Nevada Housing Division. Finally, the Nevada Housing Division presented on the Home Means Nevada program.