1. The board of trustees of a school district may apply to the Director of the Office of Finance for a grant of money from the Fund created pursuant to NRS 387.333 on a form provided by the Director of the Office of Finance. The application must be accompanied by proof that the following emergency conditions exist within the school district: (a) The combined ad valorem tax rate of the county is at the limit imposed by NRS 361.453 ; and (b) At least: (1) One building that is located on the grounds of a school within the school district has been condemned; (2) One of the facilities that is located on the grounds of a school within the school district is unsuitable for use as a result of: (I) Structural defects; (II) Barriers to accessibility; or (III) Hazards to life, health or safety, including, without limitation, environmental hazards and the operation of the facility in an unsafe manner; or (3) One of the facilities that is located on the grounds of a school within the school district is in such a condition that the cost of renovating the facility would exceed 40 percent of the cost of constructing a new facility. 2. Upon receipt of an application submitted pursuant to subsection 1, the Director of the Office of Finance shall forward the application to the: (a) Department of Taxation to determine whether or not: (1) The application satisfies the showing of proof required pursuant to paragraph (a) of subsection 1; and (2) The board of county commissioners in the county in which the school district is located has imposed a tax of more than one-eighth of 1 percent pursuant to NRS 377B.100 ; (b) State Public Works Division of the Department of Administration to determine whether the application satisfies the showing of proof required pursuant to paragraph (b) of subsection 1; and (c) Department of Education for informational purposes. 3. The Department of Taxation and the State Public Works Division shall submit written statements of their determinations pursuant to subsection 2 regarding an application to the Director of the Office of Finance. Upon receipt of such statements, the Director shall submit the application accompanied by the written statements from the Department of Taxation and State Public Works Division to the State Board of Examiners for approval. 4. The Director of the Office of Finance shall make grants from the Fund created pursuant to NRS 387.333 based upon the need of each school district whose application is approved by the State Board of Examiners. 5. The Director of the Office of Finance shall adopt regulations that prescribe the annual deadline for submission of an application to the Director of the Office of Finance by a school district that desires to receive a grant of money from the Fund.
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