Nevada Administrative Code
Chapter 231A - Nevada New Markets Jobs Act
Section 231A.Sec. 2 - NEW

Universal Citation: NV Admin Code 231A.Sec. 2

Current through December 12, 2024

1. In addition to the circumstances described in NRS 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363, the Department shall recapture, from the entity that claimed the credit on a return, the amount of the tax credit allowed under chapter 231A of NRS pursuant to subsection 2 if the credit was claimed for an impact qualified equity investment that was made in an impact qualified community development entity that ceases to qualify as an impact qualified community development entity before the last credit allowance date for the investment.

2. Any recapture made pursuant to subsection 1 must be proportionate to the amount of the impact qualified equity investment made after the entity ceases to qualify as an impact qualified community development entity.

Added to NAC by Dep't of Business & Industry 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

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