1. There is hereby created the Advisory Committee on Housing, consisting of nine members as set forth in subsection 2.

2. The Advisory Committee consists of:

(a) One member who is a Legislator appointed by the Legislative Commission;

(b) One member appointed by the Nevada Rural Housing Authority;

(c) One member appointed by the Southern Nevada Regional Housing Authority;

(d) One member appointed by the Reno Housing Authority; and

(e) Five members appointed by the Director as follows:

(1) One member who is knowledgeable and has experience in supportive housing programs and projects;

(2) One member who is representative of builders and developers of multifamily housing projects;

(3) One member who is knowledgeable in banking and the financing of housing projects;

(4) One member who represents a local community development agency or regional planning agency in southern Nevada; and

(5) One member who represents a local community development agency or regional planning agency in northern Nevada.

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

3. A member of the Advisory Committee serves a term of 2 years and until his or her successor is appointed. A member may be reappointed for additional terms of 2 years in the same manner as the original appointment.

4. A vacancy in the membership of the Committee must be filled in the same manner as the original appointment for the remainder of the unexpired term.

5. The members of the Advisory Committee shall select a Chair from among their membership. The term of office of the Chair is 2 years. 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 Advisory Committee.

6. The Division shall provide administrative support to the Advisory Committee.

7. The Advisory Committee shall:

(a) Review and comment on:

(1) The annual housing progress report compiled by the Division pursuant to NRS 278.235;

(2) The annual plan established by the Division for allocating tax credits for low-income housing pursuant to 26 U.S.C. § 42; and

(3) Any other matter or information submitted to it by the Division.

(b) Annually prepare and submit to the Private Activity Bond Council created by NRS 348A.050, a report concerning housing that addresses, without limitation:

(1) Community needs for housing in this State;

(2) Housing trends; and

(3) Housing goals for this State.

8. As used in this section:

(a) “Director” means the Director of the Department of Business and Industry.

(b) “Private activity bond” has the meaning ascribed to it in NRS 348A.010.

(Added to NRS by 2019, 2428)