Nevada Administrative Code Chapter 319 - Assistance to Finance Housing
Nevada Administrative Code (NAC) Chapter 319 – Assistance to Finance Housing contains the regulations that implement Nevada Revised Statutes (NRS) Chapter 319, which governs the Nevada Housing Division and its programs to assist in financing housing for low- and moderate-income individuals and families.
🔹 Purpose of NAC Chapter 319
NAC Chapter 319 supports the state’s efforts to:
Expand access to affordable housing
Provide financing options (e.g., loans, bonds, grants)
Administer housing programs efficiently and transparently
Ensure compliance with state and federal housing requirements
These regulations are enforced by the Nevada Housing Division, a division of the Department of Business and Industry.
🔹 Key Areas Covered in NAC Chapter 319
| Category | Regulatory Topics |
|---|---|
| General Provisions | Definitions, applicability of the chapter, program purposes |
| Homeownership Programs | First-time homebuyer programs, down payment assistance, loan eligibility |
| Multifamily Housing Finance | Financing and regulatory oversight for apartment complexes and affordable housing projects |
| Issuance of Bonds | Procedures for the issuance and administration of tax-exempt bonds to finance housing |
| Lender and Developer Requirements | Registration, participation criteria, and compliance standards |
| Low-Income Housing Tax Credits (LIHTC) | Allocation and compliance monitoring (often cross-referenced with NAC Chapter 319A) |
| Program Administration | Audits, reporting, application procedures, and administrative hearings |
🔹 Examples of Specific Provisions
NAC 319.100–319.200 – Set forth the eligibility rules for homeownership assistance
NAC 319.300+ – Outline rules for multifamily housing project financing
NAC 319.400+ – Detail procedures for the issuance of bonds
NAC 319.500+ – Establish standards for program monitoring and audits
🔹 Administering Agency
Nevada Housing Division (NHD)
Website: https://housing.nv.gov
Part of the Department of Business and Industry
🔹 Related Statutory Authority
NRS Chapter 319 – State law authorizing housing assistance programs
Federal programs such as:
Low-Income Housing Tax Credit (LIHTC)
HOME Investment Partnerships Program
National Housing Trust Fund
🔸 Summary
NAC Chapter 319 ensures that state housing finance programs:
Are accessible and accountable
Support development of affordable single- and multifamily housing
Comply with both state and federal housing finance laws
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