Nev. Rev. Stat. ch. 231A – Nevada New Markets Jobs Act | Midpage

Collections
Nevada Revised Statutes

Chapter 231A

Nev. Rev. Stat. ch. 231A

Nevada New Markets Jobs Act

231A.010Short title 231A.020Legislative findings and declaration 231A.030Definitions 231A.040“Applicable percentage” defined 231A.050“Credit allowance date” defined 231A.060“Department” defined 231A.070“Director” defined 231A.075“Fresh food retailer” defined 231A.0753“Impact qualified active low-income community business” defined 231A.0755“Impact qualified community development entity” defined 231A.0757“Impact qualified equity investment” defined 231A.080“Liability for insurance premium tax” defined 231A.090“Long-term debt security” defined 231A.0953“Principal business operations” defined 231A.100“Purchase price” defined 231A.110“Qualified active low-income community business” defined 231A.120“Qualified community development entity” defined 231A.130“Qualified equity investment” defined 231A.135“Qualified fresh food retailer” defined 231A.140“Qualified low-income community investment” defined 231A.145“Underserved community” defined 231A.150Regulations 231A.155Qualifications for impact qualified active low-income community business 231A.160Qualifications for long-term debt security 231A.170Qualified active low-income community business: Qualification; limitations; exclusions 231A.175Use of proceeds of qualified low-income community investment to establish principal business operations in State 231A.180Qualified community development entity: Requirement for allocation agreement; additional entities included 231A.200Vested right to credit against insurance premium tax liability: Use of credit; maximum yearly amount of credit; amount of credit that may carry forward to subsequent year 231A.210Tax credits not to be refunded or sold; allocation of tax credits to partners, members or shareholders of earning entity 231A.220Limitations on relationship between insurer or affiliate and qualified community development entity or impact qualified community development entity 231A.230Designation of investment or security as eligible for tax credit by qualified community development entity or impact qualified community development entity: Application requirements; duties of Department; certification of investment or security as eligible for tax credits; transferability of certified investment authority 231A.240Qualified low-income community investments: Percentage required to be invested in severely distressed census tracts; reduction in required percentage by Director; refinancing of investments 231A.245Qualified low-income community investments: Investments from more than one qualified community development entity or impact qualified community development entity; use of certain money for investments 231A.250Circumstances requiring recapture by Department of tax credits 231A.260Recapture: Cure period; notice requirement 231A.270Designation of investment or security as qualified equity investment or impact qualified equity investment by qualified community development entity or impact qualified community development entity: Fee 231A.280Department to issue letter rulings regarding tax credits: Requirements for letter rulings; letter rulings binding on Department, agents or successors until tax credits claimed 231A.290Entity claiming tax credit not required to pay additional taxes resulting from claim of credit 231A.300Decertification of qualified equity investment or impact qualified equity investment: Circumstances; limitations on distribution and payment on securities by qualified community development entity or impact qualified community development entity; notice requirements 231A.310Qualified community development entity or impact qualified community development entity not entitled to pay to affiliates fees in connection with qualified investments before decertification 231A.320Duties of Director: Annual review of qualified community development entity and impact qualified community development entity; report to Legislature