NV SB420

Authorizes county commissioners to create business improvement districts in regions governed by interstate compact regional planning agencies (currently the Lake Tahoe Basin) to fund transportation and visitor-related activities through assessments on businesses

Requires petitions to create a district be signed by business owners paying more than 50% of proposed assessments and include a district management plan; districts cannot be created if owners paying more than 50% of assessments file protests

Sets maximum initial district term at 5 years with 10-year renewal periods; allows issuance of bonds as special obligations (not general county obligations) to finance district projects, with assessments continuing until bond maturity

Requires annual reports to the Legislature on district status and financial impact on local services; mandates independent auditor review of all financing claims and prevailing wage compliance for district projects

Permits dissolution by county commissioners upon finding misappropriation, malfeasance, or violation of law, or by written petition from business owners paying 50% or more of assessments during an annual 30-day petition window beginning 2 years after district creation