NV SB28

Expands the types of projects eligible for municipal tax increment financing to include affordable housing projects, multi-family housing projects (5+ units), fixed guideway projects, high-capacity transit projects, transit-oriented developments, and transportation projects

Requires tax increment areas for these new project types to be located within one-half mile of a planned or constructed transit station, terminal, or parking facility for fixed guideway or high-capacity transit

Mandates that tax increment areas be designated in the municipality's master plan for transit-oriented development or other specified land uses

Requires governing bodies to ensure tax increment areas encourage infill development, promote public transportation growth, increase access to employment and educational opportunities, and foster collaboration between municipalities and state agencies

Effective date is July 1, 2025