1. The Board may issue a restricted license that authorizes the holder to perform certain work for which a contractors license is required, within the scope and monetary limit of the restricted license, to a person who submits to the Board: (a) An application containing any information required by the Board by regulation; (b) Any fees required for the issuance of the license established by the Board by regulation; and (c) Proof satisfactory to the Board that the person: (1) Has not less than 2 years of experience in a trade, which may include, without limitation: (I) Work experience of a particular type or within a particular classification; (II) Alternative training in a program which is offered at an accredited college or university, apprenticeship or equivalent program accepted by the Board; or (III) Completion of any other program or obtaining any other qualification acceptable to the Board; and (2) Completed, within the year immediately preceding the date on which the application is submitted, a course in business counseling or a similar curriculum which consists of a minimum number of hours and any other requirements established by the Board. 2. Before issuing a restricted license to an applicant, the Board shall require the applicant to file with the Board a surety bond or cash deposit in an amount determined by the Board by regulation, which must be not less than $2,000. 3. A restricted license issued pursuant to this section is valid for 2 years and may be renewed in accordance with the procedures for the renewal of a restricted license established by the Board by regulation. A person who has held a restricted license for a period of 2 years or more may, in accordance with the provisions of this chapter and the regulations adopted pursuant thereto governing the issuance of a contractors license that is not a restricted license, apply for a contractors license that is not a restricted license if the person is not the subject of any open or unresolved complaints. 4. Except for the provisions of NRS 624.268 and except as otherwise provided by the regulations adopted by the Board pursuant to subsection 7, the provisions of NRS 624.240 to 624.288 , inclusive, that apply to a contractors license that is not a restricted license do not apply to a restricted license issued pursuant to this section. 5. A restricted license issued pursuant to this section may only be issued in a classification and subclassification prescribed by the Board which: (a) Authorizes the holder of the restricted license to perform the remodeling and improvement of an existing, detached, stand-alone single-family residence or single-family residential unit within a structure that does not extend more than three stories above the ground and one story below the ground; and (b) Does not authorize the holder of the restricted license to increase the existing enclosed space of the residential structure. 6. Notwithstanding any other provision of law, the holder of a restricted license issued pursuant to this section may enter into a contract for a construction project that involves one or more building trades or crafts that the Board may determine to be appropriate, which must not include any building trade or craft involving the performance of any work of a type described in paragraph (b) or (c) of subsection 6 of NRS 624.031 . 7. The Board shall adopt regulations necessary to provide for the issuance and renewal of a restricted license pursuant to this section. The regulations must: (a) Establish the monetary limit for a restricted license, which must be $7,000, including labor and materials, or a greater amount that the Board determines to be appropriate. (b) Set forth the required contents of an application for the issuance or renewal of a restricted license and any additional procedures for the issuance and renewal of a restricted license that the Board determines to be necessary. The regulations must not require an applicant for the issuance or renewal of a restricted license to submit a financial statement prepared by a certified public accountant pursuant to NRS 624.263 or 624.264 . (c) Establish reasonable fees for an application and for a restricted license to be paid by applicants for the issuance or renewal of a restricted license, which must not exceed the amount of the fees set forth in NRS 624.280 . (d) Set forth any additional requirements, restrictions or conditions governing restricted licenses that the Board determines to be necessary.
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