2023 Nevada Revised Statutes › Chapter 701B - Renewable Energy Programs › NRS 701B.995 - Duties of Board; availability of additional money; authority of Fund.

1. To carry out the provisions of NRS 701B.930 to 701B.995, inclusive, the Board shall:
(a) Annually develop and adopt a work program to serve and support the deployment of qualified clean energy projects in this State, including, without limitation, projects benefitting single-family and multi-family residential property, commercial, industrial, educational and governmental property and hospitals and nonprofit property and any other projects which advance the purposes of NRS 701B.930 to 701B.995, inclusive;
(b) Develop rules, policies and procedures which specify the eligibility of borrowers and any other terms or conditions of the financial support to be provided by the Nevada Clean Energy Fund before financing support is provided for any qualified clean energy project;
(c) Develop and offer a range of financing structures, forms and techniques for qualified clean energy projects, including, without limitation, loans, credit enhancements, guarantees, warehousing, securitization, and other financial products and structures;
(d) Leverage private investment in qualified clean energy projects through financing mechanisms that support, enhance and complement private investment;
(e) Develop consumer protection standards to be enforced on all investments to ensure the Nevada Clean Energy Fund and its partners are lending in a responsible and transparent manner that is in the financial interests of the borrowers;
(f) Assess reasonable fees for the financing support and risk management activities provided by the Nevada Clean Energy Fund in amounts sufficient to cover the reasonable costs of the Fund;
(g) Collect and make available to the public in a centralized database on an Internet website maintained by the Nevada Clean Energy Fund information regarding rates, terms and conditions of all financing support transactions, unless the disclosure of such information includes a trade secret, confidential commercial information or confidential financial information;
(h) Work with market and program participants to provide information regarding best practices for overseeing qualified clean energy projects and information regarding other appropriate consumer protections;
(i) Prepare an annual report for the public on the financing activities of the Nevada Clean Energy Fund; and
(j) Undertake such other activities as are necessary to carry out the provisions of NRS 701B.930 to 701B.995, inclusive.
2. In addition to any money available through gifts, grants, donations or legislative appropriation to carry out the purposes of NRS 701B.930 to 701B.995, inclusive, the Board shall identify any other sources of money which may, in the opinion of the Board, be used to provide money for the Fund.
3. The Fund may:
(a) Sue and be sued.
(b) Have a seal.
(c) Acquire real or personal property or any interest therein, by gift, purchase, foreclosure, deed in lieu of foreclosure, lease, option or otherwise.
(d) Prepare and enter into agreements with the Federal Government for the acceptance of grants of money for the purposes of NRS 701B.930 to 701B.995, inclusive.
(e) Enter into agreements or cooperate with third parties to provide for enhanced leveraging of money of the Fund, additional financing mechanisms or any other program or combination of programs for the purpose of expanding the scope of financial assistance available from the Fund.
(f) Bind the Fund and the Board to terms of any agreements entered into pursuant to NRS 701B.930 to 701B.995, inclusive.
(g) Apply for and accept gifts, grants and donations from any source for the purpose of carrying out the provisions of NRS 701B.930 to 701B.995, inclusive.
(Added to NRS by 2017, 2537)