Assembly Bill No. 567–Assemblymen Thomas, Parnell, Goldwater, Carpenter, Segerblom, Marvel, Gibbons, Buckley, Williams, Parks, Ohrenschall, Price, Berman, Collins, Manendo, Lee, Beers, Leslie, Evans, Chowning, de Braga, Mortenson, Neighbors, Claborn, McClain, Koivisto, Perkins, Freeman, Brower and Dini

March 15, 1999

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Referred to Committee on Taxation

 

SUMMARY—Provides partial exemption from personal property tax for employer who provides free pass for public transit to employee. (BDR 32-1340)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State or on Industrial Insurance: Yes.

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

 

AN ACT relating to property tax; providing a partial exemption from personal property tax for an employer who provides a free pass for public transit to an employee; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. Chapter 361 of NRS is hereby amended by adding thereto a

1-2 new section to read as follows:

1-3 1. The personal property of an employer who provides a free pass for

1-4 public transit to an employee for the entire fiscal year preceding the

1-5 fiscal year for which the exemption is claimed, not to exceed the amount

1-6 of $3,500 of assessed valuation, is exempt from taxation.

1-7 2. An employer must file his claim for the exemption on or before

1-8 June 15 preceding the fiscal year for which the exemption is claimed

1-9 with the county assessor of the county in which the personal property of

1-10 the business is located.

1-11 3. The department shall prescribe by regulation the form to be used

1-12 to make a claim pursuant to this section.

2-1 4. As used in this section:

2-2 (a) "Pass for public transit" means a card or other object that, when

2-3 held by a person, entitles the person to use one or more of the methods of

2-4 conveyance employed by a public transit system without paying an

2-5 additional fare.

2-6 (b) "Public transit system" has the meaning ascribed to it in NRS

2-7 377A.016.

2-8 Sec. 2. This act becomes effective on July 1, 1999.

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