Governor Joe Lombardo, along with industry leaders, introduced Assembly Bill 540 in an effort to address affordable housing challenges in Nevada. The bill aims to make housing more affordable for middle-income households by allocating $250 million in state funds for “attainable housing” projects and expanding definitions of affordable housing. This proposal is supported by developers, builders, and tradesmen who believe it will help restart stalled projects and provide essential workers with access to affordable homes.
Lombardo is also working with the federal government to identify federally owned land for development. Meanwhile, Assembly Democrats have introduced their own housing proposals, including bills reforming eviction processes, rent increase limits, and transparency requirements in rental agreements.
The first public hearing for AB 540 is scheduled for Wednesday evening in front of the Commerce and Labor Committee. Speaker Steve Yeager emphasized the importance of addressing housing issues in Nevada, expressing a willingness to collaborate on solutions. This article was written by McKenna Ross from the Review Journal and can be contacted at mross@reviewjournal.com.
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