1. 1. After reviewing applications pursuant to NRS 439A.380, the Authority shall submit to the Interim Finance Committee recommendations for the awarding of grants from the Account for the approval of the Committee.

2. 2. When making recommendations pursuant to subsection 1, the Authority:

   1. (a) Shall ensure that all applicants for grants from the Account meet the requirements of NRS 439A.374;
   2. (b) May recommend funding one or more proposed projects, within the limits of money in the Account;
   3. (c) Shall, to the extent that qualified applicants are available, recommend awarding all of the money in the Account for a fiscal year as grants; and
   4. (d) May not recommend awarding a total amount of money during any funding period that exceeds the amount available in the Account for that funding period.
3. 3. The Authority shall maintain a public record of all decisions to recommend the award of funding to an entity that submits an application pursuant to NRS 439A.377 or to refuse to make such a recommendation.

4. 4. Upon receiving approval of a recommendation from the Interim Finance Committee pursuant to subsection 1, the Authority shall issue a written notice of the approval to the applicant to whom the recommendation pertains. Such written notice must include, without limitation:

   1. (a) The total amount of money being awarded; and
   2. (b) The schedule of disbursements and specific conditions that will be included in the applicable funding agreement.

(Added to NRS by 2025, 36th Special Session, 170)