Housing

SB 6 revises Nevada's Windsor Park Environmental Justice Act to update relocation eligibility and program details for residents affected by ground sinking in the Windsor Park neighborhood. It extends the qualifying ownership date from July 1, 2023, to August 1, 2025, and allows vacant lot owners or their descendants to exchange lots for new properties nearby. Key provisions include $25 million in state funding, property tax abatements for 32 years, and streamlined processes for verifying ownership through affidavits or documentation. The bill directly affects homeowners and vacant lot owners in Windsor Park who qualify under the revised timeline, enabling exchanges for new homes or lots while securing tax benefits and lien protections.

SB 10 limits corporate purchases of residential housing in Nevada to 1,000 units annually for large investment entities like real estate funds and corporations. It requires these entities to register with the state Securities Division, report purchases, and maintain a public database tracking annual purchases. Violations void property deeds and allow the Attorney General to enforce the law through legal action. The bill specifically targets institutional investors (excluding housing authorities and small owners), aiming to reduce speculative buying and stabilize neighborhoods.