1-3 the Nature Conservancy or the Nevada Nature Conservancy and held for

1-4 ultimate acquisition by the state or a local governmental unit are exempt

1-5 from taxation except as otherwise provided in subsections 2 and 3.

1-6 2. When [the Nature Conservancy] either organization transfers

1-7 property it has held for purposes of conservation to any person,

1-8 partnership, association, corporation or entity other than the state or a local

1-9 governmental unit, the property must be assessed at the rate set for first-

1-10 class pasture by the Nevada tax commission for each year it was exempt

1-11 pursuant to subsection 1 and the taxes must be collected as other taxes

1-12 under this chapter are collected.

1-13 3. When [the Nature Conservancy] either organization transfers

1-14 property it has held for purposes other than conservation to any person,

1-15 partnership, association, corporation or entity other than the state or a local

1-16 governmental unit, the tax imposed by this chapter must be assessed

1-17 against the property for each year it was exempt pursuant to subsection 1

2-6 or unsecured tax roll, who has owned the home and maintained it as his

2-7 primary residence since July 1 immediately preceding the filing of his

2-8 claim and whose household income is within one of the income ranges for

2-9 which assistance is provided pursuant to this subsection is entitled to a

2-10 refund of the property tax accrued against his home to the extent

2-11 determined by the percentage shown opposite his household income range

2-12 on the schedule below, as that income range is adjusted pursuant to

2-13 subsection 3:

2-14 PERCENT TAX

2-15 Percent of

2-16 INCOME RANGE Claimant’s

2-17 If the Amount of Property Tax

2-18 Applicant’s Household But Not Accrued Allowable

2-19 Income Is Over Over as Assistance Is

2-20 $0 _ [$12,700] $12,900 90

2-21 [12,700] 12,900 – [14,800] 15,000 80

2-22 [14,800] 15,000 – [17,000] 17,250 50

2-23 [17,000] 17,250 – [19,100] 19,400 25

2-24 [19,100] 19,400 – [21,500] 21,800 10

2-25 2. The amount of the refund must not exceed the amount of the

2-26 accrued property tax or $500, whichever is less.

2-27 3. The monetary amounts shown for each income range in subsection

2-28 1 must be adjusted for each fiscal year by adding to each amount the

2-29 product of the amount shown multiplied by the percentage increase in the

2-30 Consumer Price Index from [December 1997 to the December] July 1998

3-25 361A.280 and 361A.283 are a perpetual lien until paid as provided in NRS

3-26 361.450. If the property continues to be used exclusively for agricultural

3-27 use or approved open-space use for 7 fiscal years after the date of

3-28 attachment, the lien for that earliest year expires. The lien is for an

3-29 undetermined amount until the property is converted and the amount is

3-30 determined pursuant to NRS 361A.280. Any liens calculated and recorded

3-31 before July 1, 1989, for property that had not been converted shall be

3-32 deemed to have expired on that date.

3-33 2. If agricultural or open-space real property receiving agricultural or

3-34 open-space use assessment is sold or transferred to an ownership making it

3-35 exempt from taxation ad valorem, any such liens for deferred taxes must

3-36 be canceled, except for such liens on property acquired by the Nature

3-37 Conservancy [.] or the Nevada Nature Conservancy.