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Things Trump's tariffs could sink: Stock market, global economy, and…Lombardo's housing bill
Things Trump's tariffs could sink: Stock market, global economy, and…Lombardo's housing bill

Yahoo

time04-04-2025

  • Business
  • Yahoo

Things Trump's tariffs could sink: Stock market, global economy, and…Lombardo's housing bill

Nevada Housing Division Adminisrator Steve Aichroth and Gov. Joe Lombardo describing Lombardo's housing legislation in Las Vegas Tuesday. (Photo: April Corbin Girnus/Nevada Current) State lawmakers question if President Donald Trump's world-roiling tariffs will undercut Republican Gov. Joe Lombardo housing bill, which allocates $250 million in funding to build more housing and expands the definition of affordable housing to include higher incomes. Lombardo has previously focused his attention on addressing the state's housing crisis by calling on the federal government to release more federal land he argues is needed to build more housing – even as housing groups warn against urban sprawl and a local analysis shows significant infill land available. Assembly Bill 540, heard Wednesday night by the Assembly Commerce and Labor Committee, seeks to use state general funds to help finance the development of housing. The bill also expands the threshold of affordable housing to include households making 150% of area median income and allows out-of-state contractors to develop in rural areas, which is currently prohibited by state law. Lombardo, appearing briefly before the panel Wednesday to introduce the bill, said the legislation 'expedites permanent housing solutions' and described his bill as the 'action plan to get this done so that significant progress is already underway in Nevada before land is even released.' Democratic Assembly Speaker Steve Yeager, citing the tariffs Trump announced on all imports from all countries Wednesday that sent financial markets into a severe tailspin Thursday, said Lombardo's bill doesn't match the times. The National Association of Homebuilders, Yeager added, anticipates tariffs will drive up the cost of all housing and construction costs. 'I do think there is a twinge of irony that we as a state are asking the federal government to give us land to be able to build but at the same time we are seeing federal policies that maybe prevent us from building on that land that's being released,' Yeager said. 'I don't know if this is the left hand not knowing what the right hand is doing.' Yeager asked if Lombardo's office had talked with Trump about the newly announced sweeping tariffs, and how their economic fallout could impede the state from building more housing. Ryan Cherry, the governor's chief of staff, said while the office has talked with the Trump administration about housing costs, 'as far as tariffs, we have not had direct conversations as of this time.' Asked earlier in the week, before the scope and scale of Trump's tariff proposals announced Wednesday were known, about the impacts of tariffs and Trump's other economic policies, Lombardo said Nevada will 'make adjustments on the fly.' Nevada Housing Division Administrator Steve Aichroth, who helped present the bill on Wednesday, noted the state has already had to weather high interest rights and supply chain issues in the last few years. Despite how Covid exacerbated the housing crisis, the state still tried to find a way to build, Aichroth said. While everyone would prefer to 'build in a perfect environment,' Aichroth said, 'we haven't seen a perfect environment in a long time. But we have to build. We have to get projects built and on the ground.' The American Rescue Plan Act, passed and signed into law in 2021 by President Joe Biden, allocated billions of dollars of relief funds to the state. The state directed $500 million of that assistance to the Home Means Nevada fund, which offered financing for housing projects throughout the state and helped prevent building from being stalled, Aichroth said. 'Whether it's tariffs or higher interest rates, any of those challenges we hear from builders and laborers, all of those factor into the current housing eco-system,' he said. 'There is never a perfect time to do this. We have to play the cards we are dealt.' AB 540 would change the definition of affordable housing to 'attainable housing,' creating the Nevada Attainable Housing Fund and Council, which will oversee the allocation of $250 million in funding for housing projects. Christine Hess, the chief financial officer of the Nevada Housing Division, said that $50 million of the funds will be directed toward 'loans and will remain assets of the division's trust so that we can continue to issue the hundreds of millions of bonds annually for home ownership and multi-family rental housing.' Hess said while financing building for buyers with more than 150% of area household median income — more than $120,000 a year in Nevada — 'sounds like a lot,' it was designed to meet the changing landscape of the cost of housing. 'The median home price up and up in Reno is $600,000,' she said. 'The idea was that up to 150% gives the division with input from the communities and stakeholders, to be flexible, and the amount of public funding.' Aichroth added the state has 'programs that basically focus on 60% and 80% and below.' Though there are other resources for lower income earners, the need is far greater. There are only 17 available homes for every 100 extremely low income households making less than 30% of AMI compared to 94 available homes per 100 renter households making 100% of AMI, according to the National Low Income Housing Coalition. Democratic Assemblymember Brittney Miller asked how projects would be prioritized. Aichroth said it would be a combination of community need and financial feasibility. He added the feasibility piece was extremely important 'to ensure that the projects can get built, built to fruition, and house people for a good length of time.' Real estate interests and homebuilding firms supported the bill, saying it would alleviate issues faced when it comes to developing more housing. Val Thomason, with the Democratic Socialists of America, said the bill 'seems like a giveaway to property developers.' Lawmakers asked little about expanding households to include 150% AMI and changing the definition of affordable housing to attainable, and how that portion of the measure might come at the expense of lower income households. Instead they directed much of their focus on the section of the bill that exempts projects from paying prevailing wages to construction workers that state law typically requires of publicly financed projects. Under Lombardo's bill, builders needn't pay prevailing wage if 'the qualified borrower demonstrates that the qualified project addresses a need for critical infrastructure in an area with a shortage of attainable housing.' Tina Frias, the CEO of the Southern Nevada Homebuilders Association argued that state prevailing wage requirements 'make it extremely difficult, if not impossible, for home builders to construct attainable homes.' 'We're willing to sacrifice construction workers,' said Las Vegas Democratic Assemblymember Max Carter, admonishing the provision. The state is 'willing to let them work for substandard wages. In fact, incentivize them working for substandard wages.' Reno Democratic Assemblymember Erica Roth pointed to two housing projects that received funding from the Nevada Infrastructure Bank. 'Both of those projects use prevailing wages and both of those projects didn't have trouble securing financing or penciling out,' she said. Despite the bill's language exempting the prevailing wage, Cherry said it was not the intent 'to be presented this way.' 'I will be clear and on the record for this committee that Governor Lombardo does support the use of prevailing wage on projects across the board,' he said. Labor groups, including the AFL-CIO, and progressive groups, including Battle Born Progress, also opposed the bill's provisions prevailing wage exemption. The committee took no action on the bill.

Lombardo downplays concerns about impact of Trump tariffs
Lombardo downplays concerns about impact of Trump tariffs

Yahoo

time02-04-2025

  • Business
  • Yahoo

Lombardo downplays concerns about impact of Trump tariffs

Gov. Joe Lombardo speaking in Las Vegas Tuesday. (Photo: April Corbin Girnus/Nevada Current) Republican Gov. Joe Lombardo on Tuesday downplayed concerns about the potential consequences of tariffs and other economic policies imposed by the Trump administration, saying Nevada will 'make adjustments on the fly.' Lombardo made his comments in Las Vegas at a press conference at a soon-to-open affordable housing complex for seniors, where he was highlighting his housing bill. The Nevada Housing Access and Attainability Act, as Assembly Bill 540 has been named, will be heard by the Nevada State Legislature's Assembly Commerce and Labor Committee on Wednesday night. It promises to leverage $250 million in state funds to support more than $1 billion of new housing projects. When asked about Trump tariffs driving up the cost of constructing new homes, Lombardo acknowledged that 'tariffs are the great unknown,' before pivoting to saying his housing legislation is designed to be flexible enough to react to the needs of developers. 'We'll make adjustments on the fly,' he said. Housing groups have warned that Trump tariffs on lumber, steel, aluminium and other key goods will increase the cost of constructing homes. The National Association of Home Builders, whose Southern Nevada affiliate participated in Lombardo's press event Tuesday, have estimated that 7% of all goods used in new residential construction are imported. When asked about Trump's broader economic policies and their potential negative impact on Nevada's economy, Lombardo responded that it is the obligation of the governor and the Legislature to identify the state's needs and prioritize. 'You have to triage what your priorities are,' he said. 'You have to identify what the problems are, what the priorities are, and housing is a priority. Housing is a priority and we'll make adjustments within the state budget's services.' Lombardo in his response also alluded to recent conversations about potential cuts to Medicaid and Medicare. Those concerns, which were raised via letters and legislative hearings, are still pending as the federal budgeting process continues. Legislative Republicans have suggested they'd be more open to cutting services than raising revenue to backfill federal cuts. Early data suggests international visitation to the United States is rapidly declining due to concerns about Trump's trade wars, immigration enforcement without due process, and outlandish proposals to buy or take over other countries. Lombardo, who was endorsed by Trump, has previously said that 'Trump will bring down the rising costs of housing, groceries, and gas' and 'oversee a new era of American prosperity.' He expressed none of that enthusiasm Tuesday.

Lawmakers reconsider provision stopping union members from using sick leave to care for family
Lawmakers reconsider provision stopping union members from using sick leave to care for family

Yahoo

time27-02-2025

  • Health
  • Yahoo

Lawmakers reconsider provision stopping union members from using sick leave to care for family

Photo: Richard Bednarksi/Nevada Current) Nevada lawmakers four years ago expanded the state's paid leave law to allow workers to use the time to care for the medical needs of immediate family members. But that 2021 bill specifically did not extend that option to employees covered by collective bargaining agreements. Now, lawmakers are revisiting that decision. Assembly Bill 112, sponsored by Democratic Assemblymember Duy Nguyen of Las Vegas, would allow workers covered by collective bargaining agreements to use their accrued leave to stay home with sick children or take elderly parents to medical appointments. Using sick time for such purposes is already a common – but not openly acknowledged – practice that unionized employees could be disciplined for, union members told lawmakers on the Assembly Commerce and Labor Committee, which heard the bill Friday. 'We're not asking for anything extra,' said Communications Workers of America Local 9413 President Marc Ellis, who worked with Nguyen on the bill. 'We're just asking that we don't have to lie to our employers. If a family member is sick, we should just be able to say 'my daughter's sick; my son's sick.' I shouldn't have to lie and say 'I'm sick.'' Union members testified about employers who shame or threaten to discipline workers who used sick time to care for a family member. Klarissa Principe, a member of Transport Workers Union Local 577, which represents flight attendants at Allegiant Airlines, testified she was reprimanded for calling in to take her mom, who was battling uterine cancer, to the emergency room. 'My boss pulled me into the office and asked why I couldn't just drop my mom at the ER, come in for my shift, and pick her up when she was done,' she recalled. 'Respectfully, I would never do that. I'm not going to drop her off when she's in pain and not know what's going on and be at work not knowing what's happening.' Kent Ervin, representing the Nevada Faculty Alliance, testified that only 12% of faculty are covered by collective bargaining agreements. 'There is no reason they should have fewer rights or have to negotiate up to the rights that other employers have to use sick leave,' he said. Unions that spoke in support of AB112 include Culinary Union, AFL-CIO, SMART, United Auto Workers, National Nurses United, and Teamsters. The bill is currently opposed by numerous business groups, including the Vegas Chamber, Nevada Resorts Association, and Retail Association of Nevada. But lobbyists for the groups indicated they plan to support or be neutral on the bill after the adoption of an amendment. That amendment, which has already been drafted, clarifies that employers can offer 'the same or more generous leave and/or benefits' as those required by the paid leave law. Nevada's paid leave law, which legislators established in 2019, mandates that private sector employees at businesses with 50 or more employees accrue a total of 40 hours (five days) of paid leave annually, if they work full time.

Legislation would allow third party control of properties if landlords refuse to meet safety codes
Legislation would allow third party control of properties if landlords refuse to meet safety codes

Yahoo

time14-02-2025

  • Politics
  • Yahoo

Legislation would allow third party control of properties if landlords refuse to meet safety codes

The legislation is modeled off similar legislation in 20 other states, said bill sponsor Assemblymember Venicia Considine. (Photo: Richard Bednarski/Nevada Current) Clark county officials told state lawmakers Wednesday of numerous occasions of landlords refusing to fix substandard and dangerous living conditions throughout apartment complexes that put the health and safety of tenants at risk. The legal remedy at the county's disposal is to fine the property owners or shut down apartments altogether, which would leave hundreds of tenants without a place to live amid a severe housing shortage. Assembly Bill 211, which got a first hearing this week at the Assembly Commerce and Labor Committee, would allow another option: allow a third party to take over the property until the repairs are made and living conditions improved. Democratic Assemblymember Venicia Considine, the sponsor of the legislation, said the bill 'provides a solution to the extreme situation when a property is significantly substandard and all attempts to bring the property to standard are rebuffed and ignored.' 'These are situations where seniors are crawling up the stairs or are trapped in their unit because an elevator has been inoperable for months,' Considine said. While the current law requires landlords to maintain habitable conditions, in some instances property owners 'have determined that paying a fine is more acceptable than the option of fixing the property,' she said. The bill is modeled off similar legislation in 20 other states, Considine said. AB 211 outlines a process for counties and cities to notify landlords of violations and safety hazards, and provide a deadline for bringing properties up to code. If property owners don't comply, municipalities could obtain a court order after giving owners a 30-day notice. The district court would then determine if a property is in substandard conditions and could appoint a third-party 'receiver' to take it over. 'I just want to be clear that this is after the enforcement agency, or code enforcement has gone out multiple times and have reached out to folks,' Considine said. 'This is already after months of trying to work to fix the property.' The district court must find that failure to meet fire safety standards or other codes that endanger the health and safety of residents, according to the bill. The court can determine if there are reasonable costs for the owner to pay to temporarily relocate tenants if they can't remain at the complex while issues are being fixed. The court would also have the discretion to award attorney fees. Clark County Chair Tick Segerblom told state lawmakers of a previous case in which the county unsuccessfully tried to work with apartment complexes with 200 units to try to fix hazardous conditions. Segerblom said these tenants with lower incomes rely on these units and there isn't any other place to house them. 'I have 200 people in a building that actually can be fixed, and the landlord refuses to fix it and refuses to do anything,' Segerblom said. The legislation 'gives us the tool. It's the final resort. Hopefully it will be a lever we would never have to use, but at the end of the day, we don't want to put 200 people on the street.' During an August commission meeting, Segerblom singled out Apex Apartments on Twain Avenue and Cambridge Street as one property that deteriorated due to neglect from the property owner. Joanna Jacob, the government affairs manager Clark County, said on Thursday that she recently spoke to another commissioner who was dealing with similar complexes in disrepair. She didn't name the complex but indicated it was a 400-unit facility that had received frequent visits by the Southern Nevada Health District and the Las Vegas Metropolitan Police Department. 'I don't want to be disgusting, but they found a pool that had been improperly covered,' she said. 'Feral cats got underneath, and they found hundreds of dead cats that were in the pool. There's been homicides at that property. We are trying to engage and trying to figure out how to improve the conditions for the tenants.' Attempts to work with the landlord to address safety concerns were ignored. 'When we have units of that size, buildings of that size, that we might have to relocate tenants,' she said. 'It is a challenge for us' Jonathan Norman, the Statewide Advocacy, Outreach and Policy Director for the Nevada Coalition of Legal Service Providers, said the bill is about going after 'egregious landlords who are extracting wealth from our community without investing into their property.' When landlords refused to fix substandard living conditions in complexes, 'it puts the county and local governments in a place where they have to house 300, 400 families,' he said, testifying in support of the bill. 'For an out of state, unresponsive landlord to just expect they can come to Nevada, not put any resources in and extract money is not fair,' Norman said. The Nevada State Apartment Association opposed the bill. John Sande, a lobbyist for the association, said cities and counties need to 'explicitly enumerate the process that the landlords will be subjected to prior to this bill' being implemented. 'We want to ensure landlords have clear, due process protections and reasonable opportunity to correct these violations,' he said. 'I think that's the bill sponsor's objective.' The committee took no action on the bill.

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