The August NAIOP Members-Only Education Program, Legislative Pool Party – Deep Dive into the 2023 Legislative Session, was held on August 25th and sponsored by Argentum Partners. Hosted by Kerry Kramer and John Leleu the program provided an overview of the 83rd session of the Nevada Legislation that commenced in February. While there was optimism that there would be bi-partisan agreements during the session, it was glaringly apparent from the get-go that any hope of balance and communication would quickly be dashed by national political talking points, partisan politicking, in-fighting amongst the parties and between the houses, and huge last-minute policy issues that ultimately derailed the 2023 Session straight into 2 Special Sessions, and the prospect of a third later in the year. In total, of the 1,044 bills voted on in the session, 610 (58%) were passed by legislature, 535 were signed (88%) and 75 (12%) were vetoed.
Some of the signed legislation that would have an effect on the Commercial Real Estate market included:
- AB 210 – Electronic documentation requirements for prevailing wage payments.
- AB 50 – Enhanced penalties for organized retail crime.
- SB 30 – Protection of public safety regarding the sale of Healthcare related data without consent.
- SB 281 – Increased transparency for rate changes from natural gas utility companies.
- AB 448 – Removed exemptions that allows a company with the same ownership to purchase or transfer a property for the purpose of avoiding the payment of the Real Property Transfer Tax.
Overall, the program was very informative and provided NAIOP members in attendance a behind the scenes look into the Nevada Legislative process. Slides to the program are HERE.
The Members-Only Education programs are planned by the Education Committee who meet monthly to plan several exclusive Member’s Only workshop each year. The goal is to keep our members up-to-date and in the know of current happenings in commercial real estate in Southern Nevada. This committee focuses on unique content which is aimed to evoke in depth conversation within our workshops and provide one of NAIOPs best networking opportunities. If you would like more information about the Education Committee or on upcoming education programs contact Jennifer Turchin at Jennifer@codagroupinc.com or 702-795-2285.
Director of Business Development