Nev. Admin. Code § 231A.080 - Recapture: Amount of tax credits Department will recapture

For the purposes of NRS 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363, if a qualified community development entity or impact qualified community development entity transfers, pursuant to subsection 7 of NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, all or a portion of its certified investment authority regarding a qualified equity investment or impact qualified equity investment to another qualified community development entity or impact qualified community development entity, and:

1. The transferee causes a recapture of tax credits pursuant to NRS 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363, the Department will recapture only those tax credits relating to the portion of the qualified equity investment or impact qualified equity investment regarding which the transferee received certified investment authority.

2. The transferor causes a recapture of tax credits pursuant to NRS 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363, the Department will recapture only those tax credits relating to the portion of the qualified equity investment or impact qualified equity investment regarding which the transferor retained certified investment authority.

Notes

Nev. Admin. Code § 231A.080

Added to NAC by Dep't of Business & Industry by R103-13, eff. 6-23-2014; A by R036-23A, eff. 4/19/2024

NRS 231A.150, 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363