1. A private company, public entity or utility may:

(a) Establish and administer a consolidated insurance program to provide industrial insurance coverage for employees of contractors and subcontractors who are engaged in a construction project or series of projects of which the private company, public entity or utility is the owner or principal contractor, if the estimated total cost of the construction project or series of projects is equal to or greater than $50,000,000; and

(b) As a condition precedent to the award of a contract to perform work on the construction project or any project that is part of the series of projects, require that contractors and subcontractors who will be engaged in the construction of the project or series of projects participate in the consolidated insurance program.

2. If a private company, public entity or utility:

(a) Establishes and administers a consolidated insurance program; and

(b) Pursuant to the contract for the construction of the project or series of projects, owes a periodic payment to a contractor or subcontractor whose employees are covered under the consolidated insurance program,

the private company, public entity or utility shall not withhold such a periodic payment on the basis that the contractor or subcontractor has not signed an employer’s report of industrial injury or occupational disease as required pursuant to NRS 616C.045.

3. As used in this section:

(a) “Estimated total cost” means the estimated cost to complete all parts of a construction project or series of projects, including, without limitation, the cost of:

(1) Designing the project or series of projects;

(2) Acquiring the real property on which the project or series of projects will be constructed;

(3) Connecting the project or series of projects to utilities;

(4) Excavating and carrying out underground improvements for the project or series of projects; and

(5) Acquiring equipment and furnishings for the project or series of projects.

The term does not include the cost of any fees or charges associated with acquiring the money necessary to complete the project or series of projects.

(b) “Series of projects” means two or more projects of which the same private company, public entity or utility is the owner or principal contractor and acts as the sponsor under which a consolidated insurance program is established.

(Added to NRS by 1999, 3141; A 2015, 2611)