This paper reports on the progress of a Nevada Teacher Enhancement grant, Reinventing Teacher Preparation and Licensing through Performance-Based Reform in Nevada, toward meeting its stated goals in the first year. The goals are: (1) Nevada will use performance-based licensing for licensing teachers; and (2) Nevada will have National Board of Professional Teacher Standards certified teachers teaching in the state. Significant progress has been made toward both goals. In addition to the first-year goals, an external evaluator has been hired, and an evaluation plan has been developed. The evaluation plan calls for continued reporting on the degree to which stated goals are met. It will also collect interview data from teachers, principals, superintendents, and other key stakeholders on their perceptions of the new standards and the degree to which they have improved the teacher induction process and quality of instruction in Nevada schools. This report describes the project status; presents budget information (actual budget expenditures for the performance reporting period); and offers supplemental information (focusing on the willingness of the stakeholders to meet together and propose solutions to problems encountered). A draft of the legislation to be adopted is appended. (SM)