1. On or before January 5 of each year, the Division of Social Services shall submit a report to the Director of the Legislative Counsel Bureau for transmittal to the Senate Standing Committee on Finance and the Assembly Standing Committee on Ways and Means during a regular or special session of the Legislature, or the Interim Finance Committee when the Legislature is not in session, which specifies the amount of all money in the Fund which was allocated to and received by the Division of Social Services on or before June 30 of all preceding fiscal years pursuant to NRS 702.260 and which remains unspent and unencumbered as of December 31 of the current fiscal year. 2. Based upon the report submitted pursuant to subsection 1 and any other information available, the Senate Standing Committee on Finance or the Assembly Standing Committee on Ways and Means during a regular or special session of the Legislature, or the Interim Finance Committee when the Legislature is not in session, may require the Division of Social Services to distribute not more than 30 percent of all the money in the Fund which was allocated to and received by the Division of Social Services on or before June 30 of all preceding fiscal years pursuant to NRS 702.260 and which remains unspent and unencumbered as of December 31 of the current fiscal year to the Housing Division for the programs authorized by NRS 702.270 . The Housing Division may use not more than 6 percent of the money distributed pursuant to this section for its administrative expenses.
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