Nevada lets local and tribal governments seek disaster-risk loans

Nevada’s Division of Emergency Management must manage the loan account and run a program to finance projects that reduce disaster risks. Local and tribal governments may apply for loans for projects that qualify under the federal STORM Act. Projects and loans must meet the federal STORM Act’s requirements for disaster-risk loans. Funding depends on available account money: federal grants, state money set aside for required matching funds, loan repayments, and earnings. The account and program provisions took effect on January 1, 2026. Unspent money carries into the next fiscal year, and earnings stay in the account.

The Division of Emergency Management must set application and eligibility rules and give priority to projects it finds will reduce hazards most. These rules cover local and tribal governments seeking loans from the account. Applicants must show they need the loan, can repay it over a fixed term, and have the skills, management, and finances to meet federal requirements. The division may help applicants apply for and manage loans. These requirements took effect on January 1, 2026. Rulemaking and other preparation could begin upon passage and approval.

The Division of Emergency Management must require borrowers to follow state wage and bidding rules unless federal law prohibits that condition. The wage and bidding rules cover local and tribal governments using account loans to pay all or part of a qualifying project’s costs. Loans cannot replace other money available to the borrower for reducing hazards. These loan restrictions took effect on January 1, 2026.