AB5

Nevada AB5 revises requirements for contractors performing residential photovoltaic system work, mandating performance and payment bonds.

Nevada AB5 amends the licensing requirements for contractors performing work on residential photovoltaic systems. The bill mandates that all such contractors obtain a performance bond and a payment bond before commencing work. The performance bond must be at least 100% of the contract amount, while the payment bond must be at least 50% of the contract amount. These bonds must be issued by a surety included in the U.S. Department of the Treasury’s Listing of Approved Sureties and must have long-term debt obligations rated "A" or better by a nationally recognized rating agency.