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AB 224

Provides for the issuance of bonds to assist certain school districts in financing capital improvements. (BDR S-688)

2025 Regular Session Introduced by Reuben D'Silva and 8 co-sponsors

AB 224 authorizes up to $100M in state GO bonds to fund grants for rural Nevada school districts (<15,000) to repair or replace unsafe facilities, via the capital improvements fund.

Approved by the Governor. Chapter 415.
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Bill Summary · AB 224

AB 224 — Issuance of bonds to assist certain school districts in financing capital improvements

Status: Approved by the Governor; Chapter 415.
Introductory date: January 9, 2025.
Sponsor / Principal author: Assemblymember Mosca (cosponsors added by amendment: DeLong, D’Silva, Flanagan, Gurr, Hansen, Jackson, Kasama, Nguyen).

Main purpose

AB 224 requires the State Board of Finance to issue general obligation (GO) bonds to provide a dedicated capital grant resource for small (rural) Nevada school districts that lack local capacity to finance urgent school facility repairs or replacement.

Key provisions

  • Authorizes the State Board of Finance to issue GO bonds of the State in a total face amount not to exceed $100,000,000 pursuant to NRS 349.150–349.364.
  • Requires proceeds from the bonds (defined to include sale receipts and accrued interest) to be deposited with the State Treasurer for credit to the existing Fund to Assist School Districts in Financing Capital Improvements (NRS 387.333).
  • Directs the Director of the Office of Finance to use those proceeds to make grants from that Fund under the existing grant rules (NRS 387.3335) exclusively to school districts located in counties with population less than 15,000.
  • Retains existing statutory application/eligibility conditions from NRS 387.3335 (applicants must demonstrate the county’s combined ad valorem tax rate is at the legal limit and that one of specified emergency conditions applies on a school campus, e.g., a condemned building; facility unsuitable for use because of structural, safety or health hazards; or renovation costs exceeding 40% of replacement cost).
  • Effective date: July 1, 2025.

Who is affected

  • Primary beneficiaries: school districts in Nevada counties with population under 15,000 (rural districts) that meet existing Fund grant criteria.
  • State government: increased bond-authority and resulting state debt service obligations (the bill has a state fiscal effect).
  • Local governments: bill notes “Effect on Local Government: No,” since grants are provided by the state rather than altering local taxing authority.

Fiscal and procedural notes

  • Total authorized GO bond face amount: $100,000,000.
  • Bonds are issued by the State Board of Finance under the cited NRS bond statutes; proceeds flow through the State Treasurer to the designated Fund; grant awards are administered by the Director of the Office of Finance per existing statute.
  • The Legislature’s fiscal committee reviewed the measure (fiscal committee: YES).
  • Legislative history highlights amendment (Assembly Amendment No. 126) clarifying amount, county population threshold, and adding cosponsors. The bill was enrolled and presented to the Governor and chaptered (Chapter 415).

Intended impact

AB 224 establishes a targeted state-level capital funding mechanism to assist small, resource-constrained school districts in addressing unsafe, dilapidated, or functionally obsolete facilities that local revenue and bonding capacity cannot remedy.

Compiled from official sources — confirm details with the bill’s official record.

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