Nev. Admin. Code § 701A.740

Current through December 12, 2024

Section 701A.740 - Agreement with Director; provision of certain information for payroll deduction

1. An officer or employee of the State who has received a loan or other distribution of money from the Account may submit to the Director, on a form approved by the Director, an application to enter into an agreement pursuant to which repayment of the loan or other distribution of money from the Account will be made through payroll deductions from the paycheck of the officer or employee.

2. If the Director approves an application submitted pursuant to subsection 1, the Director may enter into an agreement with the participant. An agreement entered into pursuant to this subsection must include:

(a) The amount of the loan or other distribution of money from the Account;

(b) The total amount to be repaid by the participant;

(c) The amount to be deducted from each paycheck of the participant;

(d) A description of each approved energy efficiency measure selected by the participant;

(e) Any waivers or consent requirements established by the Director;

(f) Provisions specifying that the participant may repay the loan or other distribution of money from the Account early without penalty; and

(g) Any other terms and conditions the Director determines necessary to ensure the repayment of the loan or other distribution of money from the Account.

3. Upon entering into an agreement with a participant pursuant to subsection 2, the Director will provide to the Department of Administration or the Legislative Fiscal Officer, as applicable, the information necessary to enable the Department of Administration or the Legislative Fiscal Officer, as applicable, to administer the payroll deduction set forth in the agreement, including:

(a) The name of the participant;

(b) The employee number of the participant;

(c) The amount of the payroll deduction authorized by the agreement;

(d) The frequency of the payroll deductions authorized by the agreement;

(e) The total amount of the loan or other distribution of money from the Account authorized by the agreement; and

(f) Any other information which the Department of Administration or the Legislative Fiscal Officer, as applicable, determines is necessary to administer the payroll deduction set forth in the agreement.

Nev. Admin. Code § 701A.740

Added to NAC by Office of Energy by R051-15, eff. 10/27/2015

NRS 218F.510, as amended by section 2 of Assembly Bill No. 466, chapter 342, Statutes of Nevada 2015, at page 1919, NRS 281.129, as amended by section 1 of Assembly Bill No. 466, chapter 342, Statutes of Nevada 2015, at page 1919, and NRS 701A.450, as amended by section 3 of Assembly Bill No. 466, chapter 342, Statutes of Nevada 2015, at page 1920.