Nev. Rev. Stat. § 360.892 — Limitations on amounts of transferable tax credits which may be issued by Office of Economic Development. [Effective through June 30, 2032.]

NRS  360.892    Limitations on amounts of transferable tax credits which may be
issued by Office of Economic Development. [Effective through June 30, 2032.]
1.  Except as otherwise provided in this
section, the Office of Economic Development shall not approve transferable tax
credits:
(a) For Fiscal Year 2017-2018, 2018-2019,
2019-2020, 2020-2021, 2021-2022, 2022-2023, 2023-2024 or 2024-2025, if approval
of the transferable tax credits would cause the total amount of transferable
tax credits issued pursuant to NRS 360.880
to 360.896 , inclusive, in that Fiscal
Year to exceed $7,600,000.
(b) For a fiscal year beginning on or after July
1, 2025.
2.  The total amount of transferable tax
credits issued pursuant to NRS 360.880
to 360.896 , inclusive, to all qualified
projects in this State must not exceed $38,000,000.
3.  If in any fiscal year the Office does
not approve an amount of transferable tax credits equal to the total amount
authorized by paragraph (a) or (b) of subsection 1, the remaining amount of
transferable tax credits must be carried forward and made available for
approval during subsequent fiscal years ending on or before June 30, 2025.
4.  Each transferable tax credit issued
pursuant to NRS 360.880 to 360.896 , inclusive, expires 4 years after
the date on which the transferable tax credit is issued to the lead
participant. A transferable tax credit issued pursuant to NRS 360.880 to 360.896 , inclusive, may be transferred only
once.