319.500 - Creation; investment of money; claims. - Nevada Statutes

319.500  Creation; investment of money; claims.

      1.  There is hereby created in the State General Fund the Account for Low-Income Housing, to be administered by the Division. All money that is collected for the use of the Account from any source, including pursuant to a specific statute, tax, legislative appropriation, gift or grant, or from interest earned on specified public or private accounts, must be deposited in the Account.

      2.  The money in the Account must be invested as provided in chapters 355 and 356 of NRS. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account. All claims against the Account must be paid as other claims against the State are paid.

      (Added to NRS by 1989, 1211; A 1993, 641)