SUMMARY--Allows municipality to assess certain leasehold interests within local improvement districts. (BDR 21-1737)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State or on Industrial Insurance: No.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT relating to local improvement districts; allowing a municipality to assess certain leasehold interests; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1 NRS 271.235 is hereby amended to read as follows:
271.235"Tract" means [any] :
1. A tract, lot or other parcel of land for assessment purposes, whether platted or unplatted, regardless of lot or land lines [.] ; or
2. A leasehold interest for assessment purposes, which is designated as assessable property pursuant to subsection 2 of NRS 271.370.
Lots, plots, blocks and other subdivisions may be designated in accordance with any recorded plat thereof [;] and all lands, platted and unplatted, [shall] must be designated by a definite description. For all purposes of the Consolidated Local Improvements Law and any law amendatory thereof or supplemental thereto, any tract or leasehold interest which is assessable property in an improvement district may be legally described pursuant to NRS 361.189.
Sec. 2. NRS 271.370 is hereby amended to read as follows:
271.370 The governing body [shall] :
1. Shall determine what amount or part of every expense [shall] must be charged as an assessment and the tracts upon which the same [shall] must be levied . [; and as] As often as the governing body deems it expedient, it shall require all of the several tracts chargeable therewith respectively to be reported by the clerk to the engineer for assessment.
2. May designate as assessable property a leasehold interest in a tract of land, the term of which extends or is renewable beyond 40 years.
Sec. 3. This act becomes effective upon passage and approval.