NRS 271A.100 Agreement with Department of Taxation regarding distribution of pledged amounts; frequency and duration of distributions.
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NRS 271A.100 Agreement with Department of Taxation regarding distribution of pledged amounts; frequency and duration of distributions. After the adoption of an ordinance creating a district in accordance with this chapter, the governing body of the municipality and the Department of Taxation shall enter into an agreement specifying the dates and procedure for distribution to the municipality of any money pledged pursuant to NRS 271A.070 . The distributions must:
1. Be made not less frequently than once each calendar quarter; and
2. Except as otherwise provided in this subsection, cease at the end of the fiscal year in which the 20th anniversary of the adoption of the ordinance creating the district occurs. If the district is a district in which, during the first 5 full fiscal years after the creation of the district, the amount of the money pledged pursuant to NRS 271A.070 and received by the municipality with respect to the district is equal to zero, the distributions must cease at the end of the fiscal year in which the 25th anniversary of the adoption of the ordinance creating the district occurs.