Gov. Brian Sandoval has signed two bills to regulate ride-hailing companies like Uber and Lyft in Nevada.
Sandoval gave final approval to AB175 and AB176 on Friday, the same day that cab drivers in Las Vegas staged a protest against the companies.
AB175 sets up a regulatory framework for ride-hailing companies and imposes a 3 percent fare tax for taxi and Uber rides. AB176 places ride-hailing companies under the jurisdiction of the Nevada Transportation Authority.
Sen. Kelvin Atkinson has said the companies plan to start operations in Nevada on July 1. The tax is projected to raise at least $70 million over the next two years.
Uber briefly operated in Nevada last fall before a judge issued a restraining order against the company, saying it wasn’t following taxicab regulations.
In a statement after Governor Sandoval signed the bill, Uber applauded the decision of Nevada lawmakers saying Nevadans demanded the return of Uber and their voices were heard.
Taxi drivers protested earlier this week in hopes that the governor would not sign the bill. They said Uber drivers are not properly insured and would hurt the livelihood of taxi drivers in the valley.
“With Uber doing this during the peak period they’re going to flood the market with this on the weekends and during conventions, which will of course affect the earning capability for drivers that do this for a living,” said Sam Moffitt, taxi driver.
Under the bill, drivers will be required to have commercial insurance policy with $1.5 million in liability coverage.