1. 1. For each calendar year, the Administrator shall adopt an allocation plan for disbursing money from the Nevada Attainable Housing Account for attainable housing. A disbursement of money from the Account must comply with the allocation plan for the calendar year in which the disbursement is made.

2. 2. The allocation plan adopted pursuant to subsection 1 must, without limitation, set forth:

   1. (a) The application and eligibility requirements for an eligible entity to apply for and receive money from the Nevada Attainable Housing Account, including, without limitation, requirements for an eligible entity to demonstrate:

      1. (1) The necessary expertise and capacity to properly carry out the proposed attainable housing project for which the eligible entity receives money from the Account;
      2. (2) The extent to which the proposed attainable housing project maximizes the use of money from the Account by obtaining additional financial support from federal, local, private or other sources; and
      3. (3) The long-term sustainability of the proposed attainable housing project and its potential to contribute to community stability, foster economic development and increase access to attainable housing.
   2. (b) Any requirements for an eligible entity that receives money from the Nevada Attainable Housing Account to demonstrate compliance with any condition upon the receipt of money from the Account.

3. 3. Before adopting a proposed allocation plan pursuant to subsection 1, the Administrator must:

   1. (a) Hold at least one public hearing on the proposed allocation plan that complies with the provisions set forth in chapter 241 of NRS; and
   2. (b) Make the proposed allocation plan available on the Internet website of the Division at least 14 days before the first public hearing held pursuant to paragraph (a).

(Added to NRS by 2025, 2782)