1. 1. Except as otherwise provided in subsection 2, money deposited in the Account for Affordable Housing must be used:

   1. (a) For the acquisition, construction or rehabilitation of affordable housing for eligible families by public or private nonprofit charitable organizations, housing authorities or local governments through loans, grants or subsidies;
   2. (b) To provide technical and financial assistance to public or private nonprofit charitable organizations, housing authorities and local governments for the acquisition, construction or rehabilitation of attainable housing for eligible families;
   3. (c) To provide funding for projects of public or private nonprofit charitable organizations, housing authorities or local governments that provide assistance to or guarantee the payment of rent or deposits as security for rent for eligible families, including homeless persons;
   4. (d) To reimburse the Division for the costs of administering the Account;
   5. (e) To assist eligible persons by supplementing their monthly rent for the manufactured home lots, as defined by NRS 118B.016, on which their manufactured homes, as defined by NRS 118B.015, are located;
   6. (f) To pay the costs of creating and maintaining the statewide low-income housing database and preparing the annual report required by NRS 319.143;
   7. (g) To assist families that have children and whose income is at or below the federally designated level signifying poverty; and
   8. (h) In any other manner consistent with this section to assist eligible families in obtaining or keeping attainable housing, including use as the State’s contribution to facilitate the receipt of related federal money.

2. 2. The Division may expend each fiscal year not more than:

   1. (a) Six percent of the money deposited in the Account as reimbursement for the necessary costs of efficiently administering the Account.
   2. (b) Six percent of the money deposited in the Account to create and maintain the statewide low-income housing database and prepare the annual report required by NRS 319.143.
   3. (c) Seventy-five thousand dollars of the money deposited in the Account pursuant to NRS 375.070 for the purpose set forth in paragraph (e) of subsection 1.

3. 3. The remaining money allocated from the Account after the expenditures made pursuant to subsections 1 and 2 must be distributed to public or private nonprofit charitable organizations, housing authorities or local governments for the acquisition, construction and rehabilitation of attainable housing for eligible families, subject to the following:

   1. (a) Priority may be given to those projects that provide a preference for:

      1. (1) Women who are veterans;
      2. (2) Women who were previously incarcerated;
      3. (3) Survivors of domestic violence;
      4. (4) Elderly women who do not have stable or adequate living arrangements; and
      5. (5) Unmarried persons with primary physical custody of a child.
   2. (b) Priority must be given to those projects that qualify for the federal tax credit relating to low-income housing.
   3. (c) Priority must be given to those projects that anticipate receiving federal money to match the state money distributed to them.
   4. (d) Priority must be given to those projects that have the commitment of a local government to provide assistance to them.
   5. (e) All money must be used to benefit families whose income does not exceed 120 percent of the median income for families residing in the same county, as defined by the United States Department of Housing and Urban Development.
   6. (f) Not less than 15 percent of the units acquired, constructed or rehabilitated must be affordable to persons whose income is at or below 30 percent of the median monthly gross household income for the county in which the housing is located. For the purposes of this subparagraph, a unit is affordable if a family does not have to pay more than 30 percent of its gross income for housing costs, including both utility and mortgage or rental costs.

(Added to NRS by 1989, 1211; A 1991, 1639; 1993, 641; 2009, 540; 2017, 3616; 2019, 1421; 2023, 3464; 2025, 2786)