Nev. Admin. Code § 701A.640 - Sale, assignment or transfer of interest in project or facility

1. If an applicant intends to sell, assign or otherwise transfer all or some of the interest of the applicant in the project or facility, the applicant must:

(a) If the sale, assignment or other transfer will occur before the hearing regarding the application of the applicant, amend the application to include information regarding the proposed successor in interest and the terms and conditions of the transaction.

(b) If the sale, assignment or other transfer will occur after the execution of an abatement agreement, provide written proof that the successor in interest has actual knowledge of and will fully comply with the abatement agreement.

2. Upon receipt of any of the information required by subsection 1, the Director will provide a copy of the information to:

(a) The Chief of the Budget Division of the Department of Administration;

(b) The Department of Taxation;

(c) The board of county commissioners of any county in which the project or facility is located;

(d) The county assessor of any county in which the project or facility is located;

(e) The county treasurer of any county in which the project or facility is located;

(f) The governing body of any city or town in which the project or facility is located; and

(g) The Office of Economic Development.

3. A successor in interest to an applicant is not eligible for or entitled to a partial abatement of taxes authorized by an abatement agreement executed pursuant to NAC 701A.500 to 701A.660, inclusive, until the Director has received all the information required by subsection 1.

Notes

Nev. Admin. Code § 701A.640

Added to NAC by Nev. Energy Comm'r by R094-10, eff. 8-13-2010; A by Office of Energy by R065-13, 2-26-2014

NRS 701A.390