As used in NRS 319.410 to 319.440, inclusive, unless the context otherwise requires: 1. 'Affordability restriction' means a limit on rent that an owner may charge for occupancy of a dwelling unit in a project or a limit on the income of tenants for persons or families seeking to qualify as tenants in a project. 2. 'Federal low-income housing tax credit' has the meaning ascribed to it in NRS 360.863. 3. 'Owner' means a person who has an ownership interest in a project. 4. 'Project' means a residential housing development consisting of one or more dwelling units that: (a) Has been financed in whole or in part by tax credits relating to low-income housing, including, without limitation, the federal low-income housing tax credit, or any other money provided by a governmental agency, for which compliance is administered by the Division; and (b) Is subject to an affordability restriction. 5. 'Qualified contract' has the meaning ascribed to it in 26 U.S.C. § 42. 6. 'Qualified low-income housing project' has the meaning ascribed to it in 26 U.S.C. § 42. 7. 'Tenant' has the meaning ascribed to it in NRS 118A.170. (Added to NRS by 2021, 255)
Nevada Legal Code