AB32. Revises the provisions governing certain tax abatements for new or expanded businesses and renewable energy facilities. (BDR 32-173)
Nevada Legislature. 77th Legislature (2013). Assembly.
- Introduced:
- Dec 20, 2012
- Last Action:
- Apr 13, 2013
(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
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History
Dec 20, 2012: Prefiled. Referred to Committee on Taxation. To printer.
Dec 27, 2012: From printer.
Feb 04, 2013: Read first time. To committee.
Apr 13, 2013: (Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
Summary
Legislative Counsel's Digest: Existing law authorizes the Office of Economic Development to grant, upon application and under certain conditions, a partial abatement of the property taxes, business taxes and local sales and use taxes imposed on a new or expanded business in this State. (NRS 360.750, 361.0687, 363B.120, 374.357, 701A.210) Section 2 of this bill revises those conditions to require the business to agree to submit an annual attestation of compliance with those conditions and to require prior county approval of each application for such an abatement. Section 1 of this bill suspends, for the period of the abatement, the statutory time limitations applicable to the provision of notice of a deficiency determination regarding, and the commencement of a court action for the collection of, the taxes for which the abatement was granted. Existing law authorizes the Director of the Office of Energy to grant, upon application and under certain conditions, a partial abatement of the property taxes and local sales and use taxes imposed on certain renewable energy facilities that locate in this State. (NRS 701A.300-701A.390) Section 5 of this bill revises those conditions to require the owner of such a facility to agree to submit an annual attestation of compliance with those conditions and to require prior county approval of each application for such an abatement. Section 6 of this bill authorizes the approval of such an abatement for a period or amount which is less than that currently required by statute and suspends, for the period of the abatement, the statutory time limitations applicable to the provision of notice of a deficiency determination regarding, and the commencement of a court action for the collection of, the taxes for which the abatement was granted. Section 4 of this bill requires each board of county commissioners to adopt an ordinance setting forth its policies and criteria for the approval or denial of applications for these partial abatements. Section 3 of this bill clarifies that such an ordinance is not subject to certain prerequisites to the adoption by a local government of certain rules which affect businesses. (NRS 237.030-237.150)
