1.  Each local government that creates an enterprise fund pursuant to NRS 354.59891 shall establish an advisory committee to review the operations of, and make recommendations relating to, the enterprise fund.

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2.  The governing body of the local government or its designee shall appoint at least five members to the committee which:

(a) Must include:

(1) A representative of the residential construction industry;

(2) A representative of the commercial development industry; and

(3) A representative of the construction industry; and

(b) May include:

(1) A public officer or employee of the local government who manages the fiscal affairs of the local government; and

(2) A public officer or employee of the local government who oversees directly the operation of the enterprise fund.

3.  Each member of the committee must be appointed for a term of at least 2 years but not to exceed 4 years. The governing body or its designee may renew the term of any member of the committee.

4.  The members of the committee shall select a chair from among their membership.

5.  The committee may issue opinions and recommendations to the governing body of the local government concerning, without limitation:

(a) The adequacy of the fees that the local government charges for barricade permits, encroachment permits and building permits;

(b) The financial objectives and annual budget of the program for the issuance of barricade permits, encroachment permits and building permits; and

(c) Any other relevant issue related to the operation of the enterprise fund.

6.  As used in this section:

(a) ’Barricade permit’ has the meaning ascribed to it in paragraph (a) of subsection 1 of NRS 354.59891.

(b) ’Building permit’ has the meaning ascribed to it in paragraph (b) of subsection 1 of NRS 354.59891.

(c) ’Encroachment permit’ has the meaning ascribed to it in paragraph (g) of subsection 1 of NRS 354.59891.