NV SB39

Creates the Nevada Hazard Mitigation Revolving Loan Account in the State General Fund, administered by the Division of Emergency Management, to provide loans to local and tribal governments for hazard mitigation projects under the federal STORM Act (42 U.S.C. § 5135)

Account funding sources include FEMA capitalization grants, state matching funds appropriated by the Legislature, loan repayments, and interest earned on account balances

Division must prioritize loans for projects with the greatest impact on mitigating hazards in Nevada and require compliance with prevailing wage and competitive bidding requirements

Loan funds cannot replace or supplant other money available to recipients for hazard mitigation

Effective January 1, 2026, with immediate effect upon passage for adopting regulations and preparatory administrative tasks