1.  The governing body of a municipality, on behalf of the municipality and in its name, without an election, may by resolution create a district to finance or refinance one or more qualified improvement projects:

(a) On qualifying commercial or industrial real property, which may include any real property other than:

(1) A residential dwelling that contains fewer than five individual dwelling units; or

(2) Property financed by a government-guaranteed financing program that prohibits the subordination of the government’s interest in the property or otherwise prohibits a contract under NRS 271.6301 to 271.6325, inclusive.

(b) That meet one of the following requirements:

(1) For an energy efficiency improvement project, the project must be determined to meet the definition of an energy efficiency improvement project set forth in NRS 271.6303, comply with applicable requirements set forth in the program guide and be supported by an energy audit conducted by a qualified service company that includes a written energy analysis of the project.

(2) For a renewable energy project, the project must meet the definition of a renewable energy project set forth in NRS 271.6308, as determined by a qualified service company, and comply with applicable requirements set forth in the program guide. The determination of the qualified service company must be supported by a written feasibility study. Except as otherwise provided in this subparagraph, a renewable energy project must not be used to sell or distribute renewable energy between tracts. If the structure that is benefitting from the qualified improvement project is located on more than one contiguous tract, the renewable energy project may be used to serve the entire structure.

(3) For a resiliency project, the project must be determined to meet the definition of a resiliency project set forth in NRS 271.6309 by a licensed professional in the field of the resiliency project that is approved by the municipality pursuant to NRS 271.6325 and comply with applicable requirements set forth in the program guide. The determination of the licensed professional must be contained in a written analysis of the project.

(4) For a water efficiency improvement project, the project must be determined to meet the definition of a water efficiency improvement project set forth in NRS 271.631 by a qualified service company and comply with applicable requirements set forth in the program guide. The determination of the qualified service company must be contained in a written analysis of the project.

2.  Subject to the provisions of subsection 2 of NRS 271.6315, a district created pursuant to subsection 1 may comprise the entire jurisdictional boundaries of the municipality or any portion or individual tract, thereof.

3.  The improvements to or installations within a district created pursuant to this section must not be owned by a municipality but shall be the property of the owner of the tract upon which the improvement or installation is located.

4.  The provisions of:

(a) NRS 271.275 to 271.365, inclusive, and 271.367 to 271.472, inclusive, do not apply to a district which is created pursuant to this section.

(b) NRS 271.495 and 271.500 do not apply to any bonds or interim warrants issued to finance a qualified improvement project within a district created pursuant to this section.

5.  As used in this section:

(a) ’Energy audit’ means a formal evaluation of the energy consumption of a permanent building or any structural improvement to real property that is consistent with the requirements of ASTM International Standard E2797, ‘Standard Practice for Building Energy Performance Assessment for a Building Involved in a Real Estate Transaction,’ the ASHRAE Level 2 or 3 guidelines for energy audits or any comparable energy assessment guidelines.

(b) ’Qualified service company’ has the meaning ascribed to it in NRS 333A.060.