Nev. Rev. Stat. § 361.683 — Partial abatement of taxes imposed on personal property located at new or expanded data center. [Effective through December 31, 2056.]

NRS  361.0683    Partial abatement of taxes imposed on personal property located
at new or expanded data center. [Effective through December 31, 2056.]
1.  A person who intends to locate or
expand a data center in this State may, pursuant to NRS 360.754 , apply to the Office of
Economic Development for a partial abatement from the taxes imposed by this
chapter on personal property located at the data center.
2.  If a partial abatement from the taxes
imposed by this chapter on personal property located at the data center is
approved by the Office of Economic Development pursuant to NRS 360.754 :
(a) The partial abatement must:
(1) For an applicant seeking an abatement
pursuant to paragraph (d) of subsection 2 of NRS
360.754 :
(I) Be for a duration of at least 1
year but not more than 10 years; and
(II) Not exceed 75 percent of the
taxes payable by the data center each year pursuant to this chapter on personal
property located at the data center;
(2) For an applicant seeking an abatement
pursuant to paragraph (e) of subsection 2 of NRS
360.754 :
(I) Be for a duration of at least 10
years but not more than 20 years; and
(II) Subject to any limitation on
the abatement set forth in NRS 360.750 ,
not exceed 75 percent of the taxes payable by the data center each year
pursuant to this chapter on personal property located at the data center; and
(3) Be administered and carried out in the
manner set forth in NRS 360.754 .
(b) The Executive Director of the Office of
Economic Development shall notify the county assessor of each county in which
the data center is located of the approval of the partial abatement, including,
without limitation, the duration and percentage of the partial abatement that
the Office granted and the applicability of the partial abatement to any
colocated business. The Executive Director shall, on or before April 15 of each
year, advise the county assessor of each county in which a data center
qualifies for a partial abatement during the current fiscal year as to whether
the data center or any colocated business is still eligible for the partial
abatement in the next succeeding fiscal year.
3.  As used in this section:
(a) “Colocated business” has the meaning ascribed
to it in NRS 360.754 .
(b) “Data center” has the meaning ascribed to it
in NRS 360.754 .