NV AB540

Creates the Nevada Attainable Housing Account with $133,000,000 appropriation to fund competitive loans, grants, down payment assistance for essential workers, rental assistance programs, and land acquisition for attainable housing projects administered by the Housing Division

Establishes a new five-tier affordable housing system based on area median income: Tier 1 (≤30% AMI), Tier 2 (30-60% AMI), Tier 3 (60-80% AMI), Tier 4 (80-120% AMI), and new Tier 5 (120-150% AMI)

Creates the Nevada Attainable Housing Council to provide oversight of the Account, with 7 members including representatives from banking, housing development, multifamily housing, low-income housing organizations, and the general public

Requires counties and cities to adopt expedited approval processes for attainable housing projects and mandates reviewing agencies to expedite tentative map reviews for developments containing attainable housing

Authorizes the State Contractors' Board to issue licenses by endorsement and provisional licenses to out-of-state contractors for attainable housing projects in rural areas until December 31, 2029, with fee waivers when the Director declares a skilled labor shortage