NRS 360.870 Duty of Housing Division of Department of Business and Industry to prepare and submit annual reports; contents of annual reports.

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NRS 360.870 Duty of Housing Division of Department of Business and Industry to prepare and submit annual reports; contents of annual reports. The Division shall, on or before October 1 of each year, prepare and submit to the Governor and to the Director of the Legislative Counsel Bureau for transmittal to the Legislature an annual report which includes, for the immediately preceding fiscal year:

1. The number of applications submitted for a certificate of eligibility for transferable tax credits pursuant to NRS 360.867 ;

2. The number of projects for which transferable tax credits were approved;

3. Each type of project for which transferable tax credits were approved;

4. The amount of transferable tax credits approved;

5. The amount of transferable tax credits used;

6. The amount of transferable tax credits transferred;

7. The amount of transferable tax credits taken against each allowable fee or tax, including the actual amount used and outstanding, in total and for each project; and

8. The number of units of affordable housing created because of the issuance of transferable tax credits pursuant to NRS 360.867 . As used in this subsection, “unit of affordable housing” means a residential unit in a project that is a rent-restricted unit, as defined in 26 U.S.C. § 42(g)(2).

TRANSFERABLE TAX CREDITS FOR AND ABATEMENT OF TAXES ON QUALIFIED PROJECTS

Capital Investment At Least $1 Billion