NRS 319.020
Legislative findings and declaration

  • liberal construction.

The Legislature finds and declares that:

1.

There exists a serious shortage of decent, safe and sanitary housing in this State available to persons and families of low and moderate income and that many other persons and families are unable to secure or afford, without assistance, decent, safe and sanitary housing.

2.

This condition is conducive to disease, crime, environmental decline and poverty, impairs the economic value of large areas, which are characterized by depreciated value, impaired investments, reduced capacity to pay taxes, and lack of new development to meet the needs of area residents, and is a menace to the health, safety, morals and welfare of the residents of this State.

3.

This condition results in a loss of population and further deterioration accompanied by added costs to communities for creation of new public facilities and services elsewhere.

4.

It is difficult and uneconomic for individual owners independently to remedy this condition.

5.

One major cause of this condition has been recurrent shortages of money from private sources, and such shortages have contributed to reductions in construction of new residential housing and have made the sale and purchase of existing residential housing a virtual impossibility in certain parts of the State. Other causes of this condition include increases in rental values and decreases in the availability of federal funding for housing.

6.

The ordinary operations of private enterprise have not in the past corrected these conditions.

7.

The reduction in housing construction has caused substantial unemployment and underemployment in the construction industry which, together with the shortage of affordable housing, results in hardships, wastes human resources, increases the public assistance burdens of the State, impairs the security of family life, impedes the economic and physical development of the State and adversely affects the welfare, health and prosperity of all the people of this State.

8.

A stable supply of adequate money for the financing and provision of other assistance to obtain housing is required to encourage new housing in an orderly and sustained manner, to increase the availability of affordable housing, and thereby to reduce these detrimental results.

9.

It is necessary to create a Housing Division in the Department of Business and Industry to encourage the investment of private capital and stimulate the financing of housing through the use of public financing to provide mortgage loans and to make loans to and purchase mortgage loans from mortgage lenders, and to perform any other function authorized by this chapter.

10.

It is appropriate for the Housing Division to issue obligations regardless of their characterization for the purposes of federal income taxation by the United States Department of the Treasury.

11.

All of the purposes set forth in this chapter are public purposes and uses for which public money may be borrowed, expended, advanced, loaned or granted.
Ê This chapter must be liberally construed to accomplish the public purposes and alleviate the detrimental conditions set forth in this section.

Source: Section 319.020 — Legislative findings and declaration; liberal construction., https://www.­leg.­state.­nv.­us/NRS/NRS-319.­html#NRS319Sec020.

319.020
Legislative findings and declaration
319.030
Definitions.
319.040
“Administrator” defined.
319.042
“Affordable housing” defined.
319.045
“Collateralized mortgage obligation” defined.
319.050
“Division” defined.
319.060
“Eligible family” defined.
319.070
“Governmental agency” defined.
319.090
“Lending institution” defined.
319.100
“Mortgage” defined.
319.110
“Mortgage loan” defined.
319.115
“Person with a disability” defined.
319.120
“Real property” defined.
319.130
“Residential housing” defined.
319.135
“Sponsor” defined.
319.140
General powers and duties of Division
319.141
Housing Advocate: Creation of position
319.143
Division required to create and maintain statewide low-income housing database
319.145
Designation as housing credit agency
319.147
Certification of assisted living facilities: Requirements
319.167
Division may enter into instruments, agreements and other transactions for certain purposes.
319.169
Account for Housing Inspection and Compliance: Creation
319.170
Funds and accounts
319.171
Investment in collateralized mortgage obligations or trusts.
319.172
Authority to make loans of investment securities.
319.173
Advisory Committee on Housing: Creation
319.174
Advisory Committee on Housing: Creation
319.190
Authority to make loans and issue letters of credit.
319.200
Terms and conditions of mortgage loan.
319.210
Investment in mortgages.
319.220
Mortgages in default: Foreclosure
319.230
Loans to or purchase of securities from lending institutions
319.235
Financing rental sites for mobile homes and equipment for conservation of energy in residential dwelling units.
319.240
Lending fees and charges.
319.250
Insurance.
319.260
Prerequisites to financing residential housing.
319.265
Requirements for regulations adopted by Division that establish program for financing certain residential housing projects.
319.267
Duty of certain owners of residential housing to submit quarterly report to Aging and Disability Services Division of Department of Health and Human Services.
319.270
Notes and bonds: Issuance
319.290
Notes and bonds: Pledges as security.
319.300
Bonds: Trust indentures as security.
319.310
Notes and bonds: Guarantees of payment.
319.320
Notes and bonds: Redemption
319.323
Issuance of collateralized mortgage obligations
319.325
Division may provide that bonds, notes or loans be insured or secured
319.327
Exemption of interest on Division’s bonds from federal income taxation: Waiver
319.330
Refunding obligations: Issuance, sale and exchange.
319.340
Bond reserve funds: Establishment
319.350
Bond reserve funds: Limitations.
319.360
Bond reserve funds: Purpose
319.370
Remedies of bondholders and noteholders.
319.380
Pledge against impairment of holders’ rights and remedies
319.390
Notes and bonds as legal investments.
319.500
Creation
319.510
Use and distribution of money in Account.
319.520
Regulations concerning distribution and use of money in Account
319.530
Pets must be allowed in housing acquired, constructed or rehabilitated with money from Account
319.900
False statements
Last Updated

Feb. 5, 2021

§ 319.020’s source at nv​.us