1. The Administrator shall consult with representatives of housing authorities, organizations of persons with low income, providers of housing, financial institutions and other persons interested in the provision of affordable housing, and adopt regulations establishing:
(a) Criteria for the distribution and use of money from the Account for Affordable Housing; and
(b) Procedures for the Division and the local governments that receive money pursuant to NRS 319.510 to monitor the use of money from the Account and to enforce the provisions of this section and NRS 319.500 and 319.510.
The regulations must be designed to maximize the efficient use of money in the Account and to promote the participation and assistance of local governments.
2. A recipient of money from the Account shall comply with the regulations of the Administrator and provide such reports to the Division and the local governments that receive money pursuant to NRS 319.510 upon the use of the money as the Administrator requires.
(Added to NRS by 1989, 1213; A 1993, 642; 2019, 1422)