Nev. Admin. Code § 361.214 — 361.214

NAC 361.214    “Allowance for funds used during construction” defined. ( NRS 360.090 , 361.320 )    “Allowance
for funds used during construction” means the process of capitalizing interest
expense on funds used during the construction period. As property does not
generate earnings during construction, the capitalized interest expense
represents imputed earnings. The capitalized interest becomes part of the total
cost of the project.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]