Before undertaking a project that will result in the displacement of a natural person or a business, each governmental body, or person acting on behalf of, under contract with or in cooperation with the governmental body, shall adopt policies pursuant to NRS 342.015 to 342.075 , inclusive, to provide relocation assistance and make relocation payments to each person, whether an owner or a tenant, who is displaced from his or her dwelling or business establishment as a result of the acquisition of property in a manner substantially similar to and in amounts equal to or greater than those which are provided for in the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, 42 U.S.C. 4601-4655, and the regulations adopted pursuant thereto. Nothing in this section prohibits the payment of relocation benefits to a renter or lessee of real property whose tenancy is from month to month.
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