During the 2025 Nevada Legislative Session, state lawmakers passed Assembly Bill 540, a bill intended to ease the strain Nevadans are feeling due to the rising cost of housing. Titled the Nevada Housing Access and Attainability Act, AB540 met with unanimous approval in the state Assembly and a 15-6 vote in favor by the Nevada State Senate. The act led to the creation of the Nevada Attainable Housing Account in the State General Fund and, to oversee the administration and allocation of that fund, the Nevada Attainable Housing Council. “The act represents a bold, innovative and comprehensive approach to address our state’s housing challenges by lowering the cost of housing, expanding attainable housing options and eligibility for Nevada residents and eliminating barriers to development,” information from the Nevada Housing Division states. “The act appropriated $133 million to support the development and construction of new attainable homes; provide financial assistance for low- and moderate-income properties; aid in land acquisition for attainable housing development; provide homebuyer assistance for essential workers (including teachers, nurses and law enforcement); and match grants for local governments who commit to increasing the attainable housing supply,” the division details. “An additional $50 million in bonds will be issued to fund the Attainable Housing Infrastructure Account to help lower home prices and homebuyer assessments for attainable housing built in Special Improvement Districts and Special Assessment Districts by funding the infrastructure associated.” Another aspect of the act addresses the laws regarding contractor licensing in the state and a recent declaration from Nevada Gov. Joe Lombardo and the Nevada Dept. of Business and Industry has officially enacted these provisions in each of the state’s 15 rural counties, a major step forward in the implementation of the Housing Access and Attainability Act. “Information compiled by the Department of Business and Industry and Nevada’s rural counties reveal a significant shortage of skilled tradespeople and licensed contractors, a challenge that has slowed the construction of much-needed attainable housing,” a news release from the governor’s office stated. “The declaration removes unnecessary administrative barriers and introduces measures to make it easier for qualified contractors to operate in Nevada’s rural regions.” The news release highlighted an expansion of licensing reciprocity, which simplifies the process for contractors who are already licensed in another state seeking Nevada credentials, along with fee waivers for out-of-state contractors for a three-year period. Workforce mobility is also part of the act’s provisions, encouraging interstate cooperation to allow skilled workers to cross state lines more efficiently to meet rural construction demands, the governor’s office reported. The Declaration of Shortage of Skilled Labor or Licensed Contractors in Rural Areas of Nevada was issued on Nov. 4 and will remain in effect until the director of the Dept. of Business and Industry determines there is no longer a shortage that is impacting attainable housing in the state. “By enhancing licensing reciprocity for contractors, we can finally tackle the severe workforce shortages plaguing rural Nevada,” Lombardo remarked. “Local stakeholders have been urging us to cut through the red tape and eliminate unnecessary fees for years-this change is a long-overdue fix that will make a real difference.” For more information on the act visit Housing. NV. gov Contact reporter Robin Hebrock at rhebrock@pvtimes. com.
https://pvtimes.com/news/state-focused-on-increasing-attainable-housing-158155/