Section 445A.Sec. 3.1 - NEW1. Except as otherwise provided in subsection 5, the Division shall charge a recipient a loan origination fee of: (a) If the recipient receives a principal forgiveness loan or a short-term loan, $1,000.(b) If the recipient receives a long-term loan, 0.5 percent of the total amount of the longterm loan.2. A loan origination fee required pursuant to subsection 1 is due to the Division not later than 30 days after the closing of the loan.3. Except as otherwise provided in subsection 5, in addition to a loan origination fee, the Division shall charge a recipient:(a) If the recipient issues a bond, a fee equal to 0.5 percent of the original loan amount.(b) If the recipient does not issue a bond, a fee equal to 0.75 percent of the original loan amount.4. Any fee required pursuant to subsection 3 must be paid to the Division in equal installments over the life of the loan and is due to the Division not later than January 1 of each year.5. The Division shall not collect from a recipient any fee set forth in this section if the recipient receives financial assistance for a water project that will serve a disadvantaged community.Nev. Admin. Code § 445A.Sec. 3.1
Added to NAC by Environmental Comm'n by R109-22A, eff. 12/29/2022