NRS 353.710. “Grant” defined [Effective July 1, 2026.]

1. 1. “Grant” means a legal instrument of financial assistance between a state grant-making entity and a private nonprofit corporation that is:

   1. (a) Used to enter into a relationship for which the principal purpose is to transfer anything of value from the state grant-making entity to the private nonprofit corporation to carry out a public purpose authorized by law and not to acquire real property or services for the direct benefit or use of the state grant-making entity;
   2. (b) Used to provide for one or more payments in reimbursement for services or other performance under the agreement on a scheduled or other incremental basis; and
   3. (c) Distinguished from a cooperative agreement in that it does not provide for substantial involvement between the state grant-making entity and the private nonprofit corporation in carrying out the activity contemplated by the award.

2. 2. The term does not include an instrument that provides only:

   1. (a) Direct government cash assistance to a person;
   2. (b) A subsidy;
   3. (c) A loan;
   4. (d) A loan guarantee;
   5. (e) Insurance;
   6. (f) State funding that is required annually and is calculated based on a formula set in statute; or
   7. (g) Proceeds from a general obligation bond.

(Added to NRS by 2025, 3106, effective July 1, 2026)