The Latest: Lawmakers approve Faraday Future incentive deal
The latest on the Nevada Legislature’s special session to review incentives for electric carmaker Faraday Future:
The Assembly has approved the package of bills to bring Faraday Future to the Apex Industrial Park in North Las Vegas.
Nevada Assembly members are vetting two bills aimed at supplying water to the desert land that could be carmaker Faraday Future’s new home.
Lawmakers reviewed SB2 and SB3 on Saturday morning. One bill allows water rights to be allocated more quickly for major economic development projects, and another designates Southern Nevada Water Authority and the Las Vegas Valley Water District as Apex Industrial Park’s suppliers, rather than the City of North Las Vegas.
State officials assured Assembly members that the water rights bill applies narrowly to a basin near Apex Industrial Park and won’t change water law for basins elsewhere in Nevada. They also say the expedited process won’t cut corners.
Water agency officials affirmed that water rates for customers in southern Nevada wouldn’t rise because Faraday’s moving in.
The Nevada Assembly is reviewing three bills as a $335 million incentive package for carmaker Faraday Future hits its home stretch in the Legislature.
Lawmakers started the fourth day of a special session at about 8 a.m. on Saturday. Republican Assembly Majority Leader Paul Anderson said the legislators would spend the morning learning and raising questions about the bills, then would come together in the afternoon for final deliberations and possibly votes.
The bills include a measure authorizing $215 million in tax incentives to the electric carmaker and financing $120 million in infrastructure improvements in North Las Vegas.
Two other bills authorize water delivery to Faraday’s planned home at the Apex Industrial Park.
Senators passed all the bills nearly unanimously. The Assembly passed one bill creating a job training program.