1. The Division shall establish a revolving account within the State General Fund for the awarding of grants by the Division from the revolving account to persons who own and occupy homes damaged by a disaster for costs related to the damages.
2. Upon the declaration of a disaster pursuant to NRS 414.070, the Chief of the Division may request approval of the Interim Finance Committee for the transfer of money from the Disaster Relief Account to the revolving account. The Interim Finance Committee shall not approve such a transfer of money to the revolving account if the transfer would result in a balance in the revolving account that is more than 25 percent of the balance of the Disaster Relief Account.
3. The Division shall adopt such regulations as are necessary to carry out the provisions of this section, including, without limitation, regulations prescribing standards for eligibility for a grant pursuant to this section.
(Added to NRS by 2019, 3630)