2011 Nevada Revised Statutes
Chapter 701A - Energy-Related Tax Incentives
NRS 701A.385 - Allocation and distribution of certain taxes collected from facilities receiving partial abatement. [Effective through June 30, 2049.]
Notwithstanding any statutory provision to the contrary, if the Director approves an application for a partial abatement pursuant to NRS 701A.300 to 701A.390, inclusive, of:
1. Property taxes imposed pursuant to chapter 361 of NRS, the amount of all the property taxes which are collected from the facility for the period of the abatement must be allocated and distributed in such a manner that:
(a) Forty-five percent of that amount is deposited in the Renewable Energy Fund created by NRS 701A.450; and
(b) Fifty-five percent of that amount is distributed to the local governmental entities that would otherwise be entitled to receive those taxes in proportion to the relative amount of those taxes those entities would otherwise be entitled to receive.
2. Local sales and use taxes, the State Controller shall allocate, transfer and remit an amount equal to all the sales and use taxes imposed in this State and collected from the facility for the period of the abatement in the same manner as if that amount consisted solely of the proceeds of taxes imposed by NRS 374.110 and 374.190.
(Added to NRS by 2009, 2004; A 2009, 2010; 2011, 2074)
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