1. The Department may offer a telecommunications provider use of and access to its spare conduit and related facilities if the Department:

(a) Determines the spare conduit and related facilities are not and will not be needed for highway purposes;

(b) Receives fair compensation for the use of and access to the spare conduit and related facilities; and

(c) Offers such use and access in a competitively neutral and nondiscriminatory manner as to all similarly situated telecommunications providers.

2. The Department shall establish rates of compensation for the use of and access to its spare conduit to ensure that the Department receives fair compensation for the value of its underground installations of conduit and related facilities. The compensation must be fair and reasonable to both the Department and the telecommunications provider, and charged in a competitively neutral and nondiscriminatory manner to all similarly situated telecommunications providers.

3. Any compensation charged pursuant to this section must be set forth in an agreement entered into between the Department and the telecommunications provider.

4. The Department shall:

(a) Determine the annual compensation to be paid by each telecommunications provider for use of its conduit and related facilities based on the present value of the estimated, reasonable cost to the Department of trenching to place conduit, fiber and other related facilities; and

(b) Conduct an analysis every 5 years to determine if there are any changes in the value of its spare conduit and related facilities. If the Department determines that the value of its spare conduit or related facilities has changed, the Department must apply the new values to each agreement executed thereafter.

5. The Department may accept in-kind compensation for the use of and access to its spare conduit and related facilities in accordance with the valuation procedures set forth in subsection 2 of NRS 408.55025.

(Added to NRS by 2017, 533)