Nev. Admin. Code § 360.835 — 360.835

NAC 360.835    Certificate of eligibility: Duties of Office; hearing; order
approving application; factors for determining whether qualified production is
in economic interest of State. ( NRS
360.759 )
1.  Upon receipt of a completed application
for a certificate of eligibility submitted pursuant to paragraph (a) of
subsection 2 of NAC 360.830 and the
information required by paragraph (b) of subsection 2 of NAC 360.830 , the staff of the Office shall:
(a) Evaluate the application and supporting
information; and
(b) Prepare a proposed order containing a
recommendation of whether to grant or deny approval of the application and an
estimate of the amount of transferable tax credits available to the applicant
if a certificate of eligibility is issued.
2.  A hearing on an application for a
certificate of eligibility must be conducted by the Executive Director or his
or her designee not later than 60 days after the Office receives the
application. Not later than 30 days before the date of the hearing, the Office
will provide notice of the date, time and location of the hearing and a copy of
the proposed order prepared pursuant to subsection 1 to:
(a) The applicant;
(b) The Department; and
(c) The Nevada Gaming Control Board.
3.  Not later than 30 days after the
conclusion of the hearing on the application for a certificate of eligibility,
the Executive Director or his or her designee will determine whether to approve
the application for a certificate of eligibility. If, after the conclusion of
the hearing, the Executive Director or his or her designee finds that:
(a) The qualified production is in the economic
interest of this State, as determined pursuant to subsection 5;
(b) Fifty percent or more of the funding for the
qualified production has been placed in an escrow account or trust account for
the benefit of the qualified production, or that the producer has a corporate
credit rating of “lower medium grade” or higher from a credit rating agency
found suitable by the Office; and
(c) At least 60 percent of the total qualified
expenditures and production costs for the qualified production, including
preproduction and postproduction, will be incurred in this State,
Ê the Office
will issue a final order approving the application for a certificate of
eligibility and determining an estimate of the amount of transferable tax
credits available if a certificate of eligibility is issued. The Office will
provide notice of its determination and, if the application is approved, a copy
of the final order to the applicant, the Department and the Nevada Gaming
Control Board.
4.  If the Office approves an application for
a certificate of eligibility, the Office will execute a memorandum of
understanding with the producer of the qualified production on a form
prescribed by the Office and include a copy of the memorandum of understanding
with the copy of the final order approving the application which is provided to
the applicant, the Department and the Nevada Gaming Control Board pursuant to
subsection 3.
5.  For the purpose of determining whether a
qualified production is in the economic interest of this State, the Executive
Director shall consider:
(a) The economic factors set forth in subsection 2
of NRS 231.053 ;
(b) The number of high-quality jobs created for
residents of this State, and the duration of those jobs, as a result of the
qualified production;
(c) The quality of the capital investment in this
State as a result of the qualified production; and
(d) Any other factors deemed relevant by the
Executive Director.
(Added to NAC by Office of Economic Dev. by R120-13,
eff. 12-23-2013)