Nev. Admin. Code § 360.478 — 360.478

NAC 360.478    Abatements for new grocery store within Southern Nevada
Enterprise Community. (§ 6 of ch. 198, Stats.
2005, as amended by § 16 of ch. 407, Stats. 2007)
1.  A person who qualifies pursuant to
section 6 of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 , may apply to the Commission for a partial
abatement of any personal property tax imposed pursuant to chapter 361 of NRS and any tax on the
gross receipts from the sale, storage, use or other consumption of eligible
machinery or equipment imposed pursuant to chapter
374 of NRS for a new grocery store which the person intends to locate
within the Southern Nevada Enterprise Community established pursuant to 24
C.F.R. Part 597.
2.  The application must be submitted on a
form prescribed by the Executive Director of the Commission within the
applicable period prescribed in subsection 3. The application must include,
without limitation:
(a) A certificate of endorsement from the governing
body of the county, city or town in which the new grocery store will be
located, which must:
(1) Be issued by the governing body of the
county, city or town in a manner consistent with the procedures adopted by the
governing body for evaluating the benefits of tax abatements for the economic
development of the county, city or town; and
(2) Describe the partial abatement of taxes
determined by the governing body of the county, city or town to be beneficial
for the economic development of the county, city or town;
(b) Evidence satisfactory to the Commission that
the governing body of the county, city or town provided notice of the hearing
at which the governing body considered whether to endorse the application to
the board of trustees of the school district in which the grocery store will be
located;
(c) Evidence satisfactory to the Commission that
the new grocery store for which the partial abatement of taxes is sought will
be located within the Southern Nevada Enterprise Community; and
(d) Evidence satisfactory to the Commission that
the total amount of partial abatements of taxes applied for pursuant to this
section, together with the total amount of partial abatements of taxes to which
the applicant is entitled pursuant to NRS
361.4722 , 361.4723 and 361.4724 , does not exceed 82
percent of the total amount of personal property taxes otherwise due on all
property for which the applicant is seeking a partial abatement pursuant to
this section.
3.  If the application is for a partial
abatement of any personal property tax imposed pursuant to chapter 361 of NRS, the application must
be submitted not earlier than 18 months before the new grocery store is located
within the Southern Nevada Enterprise Community. If the application is for a
partial abatement of the taxes imposed pursuant to chapter 374 of NRS, the application must
be submitted not later than 60 days after the date of acquisition of the
eligible machinery or equipment.
4.  Except as otherwise provided in
subsection 5:
(a) If an application submitted to the Commission
pursuant to this section is received at least 15 business days before a
regularly scheduled meeting of the Commission, the Commission will consider the
application at that meeting; or
(b) If an application submitted to the Commission
pursuant to this section is received less than 15 business days before a
regularly scheduled meeting of the Commission, the Commission will consider the
application at the next regularly scheduled meeting immediately following that
meeting.
5.  If the Commission determines that an
application submitted pursuant to this section requires special or additional
review and consideration by the Commission, the Commission may postpone consideration
of the application until the next regularly scheduled meeting of the
Commission.
6.  The Commission will approve an
application for a partial abatement if the applicant satisfies all requirements
of this section and subsection 3 of section 6 of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 .
7.  If the Commission approves an application
for a partial abatement, the Commission will forward to the Department, with
the certificate of eligibility required pursuant to subsection 4 of section 6
of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 , any materials submitted to the Commission in
support of the application submitted pursuant to this section.
8.  If the Commission approves an application
for a partial abatement from the tax imposed pursuant to chapter 374 of NRS, the taxpayer is
eligible for an abatement from the tax for not more than 2 years for eligible
machinery or equipment which is leased or purchased. In the case of machinery
or equipment that is leased, the lessee is the taxpayer who is eligible for an
abatement.
9.  If a person whose partial abatement has
been approved pursuant to this section and is in effect:
(a) Ceases to meet the requirements set forth in
this section or section 6 of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 ; or
(b) Ceases operation of the grocery store before
the expiration of the period specified in the agreement the applicant executed
with the Commission pursuant to subsection 3 of section 6 of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 ,
Ê the person
shall pay to the Department or, if the partial abatement was from the property
tax imposed pursuant to chapter 361 of
NRS, to the county treasurer, an amount equal to the amount of the tax
abatement that was allowed pursuant to this section before the failure of the
person to comply with the agreement fully, unless the Nevada Tax Commission
determines that the person has substantially complied with the requirements of
the agreement and section 6 of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 . Except as otherwise provided in NRS 360.232 and 360.320 , the person shall, in
addition to the amount required to be paid pursuant to this subsection, pay
interest on that amount at the rate most recently established pursuant to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment of the tax would have been due had the partial abatement not been
approved until the date of payment of the tax.
10.  As used in this section, unless the
context otherwise requires:
(a) “Commission” means the Commission on Economic
Development.
(b) “Eligible machinery or equipment” has the
meaning ascribed to it in subsection 3 of NRS 374.357 .
(c) “Grocery store” has the meaning ascribed to it
in subsection 7 of section 6 of chapter 198, Statutes
of Nevada 2005, at page 643 , as amended by section 16 of chapter 407, Statutes
of Nevada 2007, at page 1784 .
(Added to NAC by Comm’n on Econ. Development by R168-07,
eff. 4-17-2008)