Nev. Rev. Stat. § 360.855 — 360.855

NRS  360.855    Distribution of money pledged pursuant to NRS 271A.070 ;
distribution and use of excess amounts; adoption of regulations by Nevada
Tax Commission for collection and distribution of pledged money.
1.  The State Controller, acting upon the
collection data furnished by the Department, shall remit to the governing body
of a municipality that adopts an ordinance pursuant to NRS 271A.070 , in the manner provided
pursuant to an agreement made pursuant to NRS
271A.100 :
(a) From the State General Fund the amount of
money pledged pursuant to the ordinance in accordance with subparagraph (1) of
paragraph (c) of subsection 1 of NRS
271A.070 , which amount is hereby appropriated for that purpose; and
(b) From the Sales and Use Tax Account in the
State General Fund the amount of the proceeds pledged pursuant to the ordinance
in accordance with subparagraphs (2) and (3) of paragraph (c) of subsection 1
of NRS 271A.070 .
2.  Except as otherwise provided in
subsection 3, the governing body of a municipality that adopts an ordinance
pursuant to NRS 271A.070 shall at the
end of each fiscal year remit to the State Controller any amount received
pursuant to this section in excess of the amount required to make payments due
during that fiscal year of the principal of, interest on, and other payments or
security-related costs with respect to, any bonds or notes issued pursuant to NRS 271A.120 and payments due during that
fiscal year under any agreements made pursuant to NRS 271A.120 . The State Controller shall
deposit any money received from a governing body of a municipality pursuant to
this subsection in the appropriate account in the State General Fund for
distribution and use as if the money had not been pledged by an ordinance
adopted pursuant to NRS 271A.070 , in
the following order of priority:
(a) First, to the credit of the State Education
Fund to the extent that the money would have been transferred to the Fund, if
not for the pledge of the money pursuant to that ordinance, pursuant to
paragraph (c) of subsection 3 of NRS 374.785
for the fiscal year in which the State Controller receives the money;
(b) Second, to the State General Fund to the
extent that the money would not have been appropriated, if not for the pledge
of the money pursuant to that ordinance, pursuant to paragraph (a) of
subsection 1 for the fiscal year in which the State Controller receives the
money; and
(c) Third, to the credit of any other funds and
accounts to which the money would have been distributed, if not for the pledge
of the money pursuant to that ordinance, for the fiscal year in which the State
Controller receives the money.
3.  The provisions of subsection 2 do not
require a governing body to remit to the State Controller any money received
pursuant to this section and expended for the purpose of prepaying, defeasing
or otherwise retiring all or a portion of any bonds or notes issued pursuant to
NRS 271A.120 or of prepaying amounts
due under any agreements entered into pursuant to NRS 271A.120 , or any combination thereof,
with respect to a tourism improvement district if that use of the money has
been:
(a) Authorized by the governing body in the
ordinance creating the district pursuant to NRS
271A.070 , or in an amendment thereto; and
(b) Approved by the governing body and the
Commission on Tourism in the manner required to satisfy the requirements of
subsections 5 and 6 of NRS 271A.080 ,
Ê and after
the provision of notice to and an opportunity to make comments by the board of
county commissioners of the county in which the tourism improvement district is
located in accordance with subsection 4 of NRS
271A.080 .
4.  The Nevada Tax Commission may adopt
such regulations as it deems appropriate to ensure the proper collection and
distribution of any money pledged by an ordinance adopted pursuant to NRS 271A.070 .

TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING