Nevada Administrative Code
Chapter 360 - Revenue and Taxation: Generally
TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING
Section 360.896 - Notice to Department of used transferable tax credits and false statement or representation made by project sponsor in application or of failure to comply with certain requirements; issuance of notice of liability; notice to Department of fraudulent information submitted by transferee; transferable tax credits subject to forfeiture or repayment

1. The Division shall notify the Department if the Division finds that:

2. Upon receipt of a notification pursuant to subsection 1, the Department shall issue a notice of liability to the project sponsor for any portion of the transferable tax credits to which the project sponsor is not entitled.

3. The Division shall notify the Department if the Division finds that a transferee submitted fraudulent information in connection with the purchase of transferable tax credits. Such transferable tax credits will be subject to forfeiture or repayment by the transferee to the Department for any portion to which the transferee is not entitled.