Despite some ham-handed market interventions by lawmakers in the 83rd legislative session, its aftermath also included the passage of several business-friendly bills. These laws ease red tape and barriers to market entry. This is a clear win not only for Nevada entrepreneurs and small businesses, but also for workers who will benefit from the opportunity that results from increased dynamism as well as consumers who may gain access to new and interesting products at better prices. Below are Nevada Policy’s picks for top five best free-market bills that became laws.
AJR 8 – Laying the groundwork for a Nevada business court
Assembly Joint Resolution 8 (AJR 8) introduces a constitutional amendment to establish a state business court. Modeled after Delaware’s Chancery Court, the Nevada business court is intended to take corporate litigation out of civil and criminal dockets to a new designated space. For enterprises in Nevada this would mean shorter resolution timelines, decreased litigation costs, and economic competitiveness. The passage of AJR 8 is especially timely as many corporate giants are considering leaving the nation’s corporate capital – Delaware – after the Chancery Court recently tarnished its reputation with a new ruling unfavorable to corporate boards. Nevada is now competing with counterparts like Texas and Montana to attract the businesses seeking to leave Delaware and AJR 8 sends a message that Nevada is open for business. The bill will need to successfully pass in the 2027 legislative session and on the 2028 ballot to be adopted into the state constitution.
AB 376 – Property Insurance Sandbox in Northern Nevada
Industry-specific regulatory sandboxes are used as a tool to encourage competition, decrease pricing and push innovation. In northern Nevada’s property insurance market, this may be especially useful, as the area often suffers from wildfires, making the property owners a subject to exceptionally high insurance rates. This legislation will give companies the freedom to design wildfire and earthquake insurance policies tailored to Nevada’s unique risks. It could yield new products such as coverage that adjusts based on fire season or earthquake, or “on-demand” coverage you can buy just for short-term, and more. Apart from benefiting the insurance providers, AB 376 will ultimately benefit Nevadan residents by making a wider array of insurance offerings available.
AB 197 – Privacy Protections for Donors to Nonprofits
AB 197 provides common sense, uncontroversial protections for supporters, members and volunteers of nonprofits against forceful disclosure of their private information. Additionally, the language prohibits government from collecting this information unless it is to satisfy a subpoena, service of process, or similar need. In case this information is collected, it becomes privileged and cannot be shared. Nonprofits exist to achieve missions of public benefit and people should be free to associate with nonprofits as they see fit without government involvement or harassment. That’s a pillar of a free society. AB 197 would enshrine this freedom.
SB 124 – Licensing Reform for International Physicians
As lawmakers focused on occupational licensing reform through interstate compacts and deregulation, some bills stood out. SB 124 will allow issuance of a limited license to practice medicine to graduates of qualified foreign medical schools who have held an unrestricted medical license in a foreign country. After completing a three-year long residency, these professionals may be granted an unlimited license to practice as local physicians. This reform could attract many qualified physicians to the Silver State and ease the pressing shortage of medical professionals.
SB 295 – Street Vendor Licensing Reform
Deregulation was also under the spotlight for the street vendor industry, with its biggest success being the passage of SB 295. This legislation expands the definition of cottage goods that street vendors will be allowed to sell and removes some state and local bureaucratic burdens for vendors. As a result, the bill will encourage more competition, easier entry, and less government oversight for street vendors. Reforms like SB 295 will improve Nevada’s infamous standing as America’s most onerously licensed state.
These bills generally recognize that state and local barriers to market development tend to impede Nevadans from getting the things they need. Removing these interventions allows for greater prosperity.
