New Laws Take Effect Today

Most of the 558 new laws approved by the 2007 Legislature already are on the books. All that's left, according to the Legislative Counsel Bureau, are sections of 14 bills that are effective Tuesday, and another 17 laws with July 1, 2008 effective dates.

The Jan. 1 laws include AB329, which requires regulations for nontraditional mortgage loans, such as interest-only loans and adjustable rate loans. The measure was one of several sought by
regulators and by homebuyers who complained about problems they
encountered with their loans.

Also taking effect is AB147, which requires agencies that maintain Nevada's two group care homes, in Clark and Washoe counties, to move all children younger than six years old out of the homes.

Advocates of the law change said the constant changing of caregivers that takes place in a group home can leave children with severe emotional disturbances.