Nev. Admin. Code § 231.450 - Grounds for determination sponsoring municipality not in compliance with agreement; authority of Executive Director to refuse to make grant or loan; written notice of noncompliance; cure of noncompliance; voiding of agreement if no cure

1. The Executive Director may find that a sponsoring municipality has not complied with the agreement entered into by the Office and the sponsoring municipality pursuant to NAC 231.435 and refuse to make a grant or loan of money from the Catalyst Account to a sponsoring municipality if the Executive Director:

(a) Receives information from an investigation conducted by a sponsoring municipality pursuant to section 30 of this regulation, or otherwise has good cause to believe, that the business receiving a Catalyst Account disbursement has provided false information or has failed to create the number of new primary jobs required by the agreement entered into by the Office and the sponsoring municipality pursuant to NAC 231.435;

(b) Finds that the business has applied for or received a tax abatement or incentive, other than a tax abatement provided pursuant to NRS 361.4722 or money derived from the Catalyst Account disbursement, from an agency or political subdivision of this State and that the tax abatement or incentive was not identified on the application for a Catalyst Account disbursement submitted to the Office by the sponsoring municipality pursuant to NAC 231.430; or

(c) Finds that the business receiving a Catalyst Account disbursement has been convicted of a crime in this State or any jurisdiction.

2. If, pursuant to subsection 1, the Executive Director finds that the sponsoring municipality is not in compliance with the agreement entered into by the Office and the sponsoring municipality pursuant to NAC 231.435 and refuses to make the grant or loan of money from the Catalyst Account, the Executive Director will provide written notice of noncompliance to the sponsoring municipality. The written notice must:

(a) Specify the reasons that the sponsoring municipality is not in compliance with the agreement; and

(b) Provide the sponsoring municipality a period of not less than 30 days to cure the areas of noncompliance.

3. If a sponsoring municipality does not cure the areas of noncompliance within the period of time described in the written notice sent to the sponsoring municipality pursuant to subsection 2, the Executive Director may void the agreement entered into by the Office and the sponsoring municipality pursuant to NAC 231.435.

Notes

Nev. Admin. Code § 231.450

Added to NAC by Office of Economic Dev. by R159-16, eff. 6/26/2018

NRS 231.053, 231.1577