NRS 360.869 - Repayment of tax credits to which project sponsor not entitled. [Effective January 1, 2020, through December 31, 2029.]

NV Rev Stat § 360.869 (2019) (N/A)

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1. A project sponsor that is found to have submitted any false statement or made any false representation in any document submitted for the purpose of obtaining transferable tax credits pursuant to NRS 360.860 to 360.870, inclusive, or that fails to comply with the requirements of the qualified allocation plan or the declaration of restrictive covenants and conditions shall repay to the Department or the Nevada Gaming Control Board, as applicable, any portion of the transferable tax credits to which the project sponsor is not entitled.

2. Transferable tax credits purchased in good faith are not subject to forfeiture or repayment by the transferee unless the transferee submitted fraudulent information in connection with the purchase.

(Added to NRS by 2019, 3766, effective January 1, 2020)

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NRS 360.868 - Limitations on amounts of transferable tax credits which may be issued; expiration of transferable tax credits. [Effective January 1, 2020, through December 31, 2029.]

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NRS 360.870 - Duty of Housing Division of Department of Business and Industry to prepare and submit annual reports; contents of annual reports. [Effective January 1, 2020, through December 31, 2029.]

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