1.  Except as otherwise provided in subsection 2, a state agency shall seek and obtain the approval of the State Board of Finance to enter into a contract for the acceptance of credit cards, debit cards or electronic transfers of money pursuant to NRS 353.1465 unless it is impracticable for the agency to enter into such a contract.

2.  The Director of the Office of Finance may enter into one or more contracts with issuers of credit cards or debit cards or operators of systems that provide for the electronic transfer of money to provide for the acceptance of credit cards, debit cards or electronic transfers of money by any state agency that chooses to participate in the contract. The Director must obtain approval of the State Board of Finance in the manner required pursuant to NRS 353.1465 for such a contract, and the contract is subject to the requirements of that section. If a state agency participates in such a contract, it is not required to seek and obtain approval to enter into a contract pursuant to subsection 1.

3.  A state agency that has not entered into a contract pursuant to NRS 353.1465 or is not participating in a contract pursuant to subsection 2 shall report to the Legislative Commission and the Interim Finance Committee on or before July 1 of every even-numbered year concerning the reasons that the agency has failed to enter into or participate in such a contract, including any supporting financial information, and the efforts the agency is taking to allow it to enter into or participate in such a contract in the future.