Revises provisions governing bidding procedures for a homeowners' association. (BDR 10-818)

AB 129 revises Nevada's rules for homeowners' associations (HOAs) requiring them to obtain at least three bids for projects costing a specified portion of their annual budget: 3% for associations with fewer than 1,000 units, or 1% for larger associations (1,000+ units). The bill adds an exception allowing HOAs to skip the bidding process if delaying the project would worsen property damage or create safety risks. It also mandates that HOAs award contracts to the lowest qualified bidder and defines "association project" to include maintenance, repairs, and professional services like legal or engineering work. This affects all Nevada HOAs managing common-interest communities.