NRS319.173. Advisory Committee on Housing: Creation; members; meetings; submission and review of work plan; duties.

      1.  There is hereby created an Advisory Committee on Housing to review and provide to the Director of the Department of Business and Industry and the Administrator advice, recommendations and other commentary regarding:

      (a) The investment of money or issuance of obligations by the Division.

      (b) The development of new programs or the improvement of existing programs of the Division.

      (c) The improvement of policies and procedures of the Division, including those relating to the dissemination of relevant information to persons who participate in or are otherwise interested in programs of the Division.

      (d) The administration of the Account for Low-Income Housing.

      (e) Any other matters referred to the Advisory Committee by the Director or Administrator.

      2.  The Advisory Committee consists of the Director of the Department of Business and Industry or his or her representative, and eight members appointed by the Director. The Director shall appoint to the Advisory Committee:

      (a) One representative of an association of mortgage bankers in this State, selected from a list of names submitted to the Director by that association.

      (b) One representative of persons engaged in residential construction in this State.

      (c) One representative of banks or savings and loan associations in this State who is knowledgeable about making mortgage loans.

      (d) One member who is knowledgeable about the sale and marketing or the management of real property in this State.

      (e) One member who is knowledgeable about the development or management of nonprofit housing in this State.

      (f) One member who is knowledgeable about housing programs sponsored, administered or supported by local governments in this State.

      (g) One member who is knowledgeable about federal housing programs administered by the Division.

      (h) One member who is an advocate of affordable housing.

Ê The members of the Advisory Committee are not entitled to any additional compensation for their service in that capacity.

      3.  The Director of the Department of Business and Industry or his or her representative shall serve as the Chair of the Advisory Committee. The Advisory Committee shall meet at least once each calendar quarter, and at the call of the Chair or upon the written request of the Administrator or a majority of the members of the Committee.

      4.  The Administrator shall submit annually to the Advisory Committee for its review, comment and recommendations a work plan for the activities of the Division for the succeeding calendar year. The work plan must include:

      (a) The expected needs for financing and anticipated demand for tax credits and sources of funding for each of the programs administered by the Division.

      (b) Strategies for meeting those needs and demands.

      (c) A plan for resolving any anticipated problems in carrying out those strategies.

      (d) A plan for the allocation of the resources of the Division, including the allotment of its employees’ time, to carry out the work plan in such a manner as to serve the entire area of the State adequately.

      (e) Any other matters which are critical to the success of any programs administered by the Division.

      5.  Before the:

      (a) Investment of money of the Division pursuant to NRS 319.171; or

      (b) Submission of findings to the State Board of Finance pursuant to subsection 4 of NRS 319.323,

Ê the Administrator shall submit a plan of investment or a plan of financing, together with any proposed findings relating to that plan, to the Advisory Committee for its review and comment.

      6.  The Administrator shall report to the Advisory Committee at least once each calendar quarter on the activities of the Division and the implementation of the Division’s work plan for that year.

      (Added to NRS by 1987, 1352; A 1995, 2707)