Nevada Administrative Code
Chapter 231A - Nevada New Markets Jobs Act
Section 231A.110 - Recapture: Provisions of subsection 4 of NRS 231A.250 interpreted

1. Up to 25 percent of the original amount of the qualified equity investment or impact qualified equity investment may be invested in any one qualified active low-income community business or impact qualified active low-income community business, as applicable, without regard to whether the qualified community development entity or impact qualified community development entity which applied for and received certification pursuant to NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, for the qualified equity investment or impact qualified equity investment has transferred to another qualified community development entity or impact qualified community development entity any portion of the certified investment authority regarding that qualified equity investment or impact qualified equity investment; and

2. A qualified community development entity or impact qualified community development entity which, as referenced in subsection 1, receives a portion of the certified investment authority regarding a qualified equity investment or impact qualified equity investment may invest, as applicable, in any one qualified active low-income community business or impact qualified active low-income community business up to 100 percent of the amount of the qualified equity investment or impact qualified equity investment over which the qualified community development entity or impact qualified community development entity received authority if the amount of the investment, when combined with all other investments in the qualified active low-income community business or impact qualified active low-income community business which are directly or indirectly drawn from the original qualified equity investment or impact qualified equity investment does not exceed 25 percent of the original amount of the qualified equity investment or impact qualified equity investment as certified by the Department pursuant to subsection 3 of NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, and for which cash was received in accordance with subsection 8 of NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360.