Nevada Administrative Code
Chapter 231A - Nevada New Markets Jobs Act
Section 231A.Sec. 3 - NEW

Universal Citation: NV Admin Code 231A.Sec. 3

Current through December 12, 2024

1. For the purpose of making a qualified low-income community investment, a qualified community development entity or an impact qualified community development entity may:

(a) Directly make a capital or equity investment in or issue a loan to a qualified active low-income community business or an impact qualified active low-income community business, as applicable; or

(b) Make such an investment or issue such a loan indirectly through one or more special purpose entities.

2. A special purpose entity through which a capital or equity investment is made or a loan is issued pursuant to paragraph (b) of subsection 1 may not pay any fees associated with the qualified low-income community investment.

3. For the purposes of this section, "special purpose entity" means an entity created solely for the purpose of making or otherwise facilitating a qualified low-income community investment in a qualified active low-income community business or an impact qualified active low-income community business.

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

NRS 231A.150

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.