Amendment No. 350

Assembly Amendment to Assembly Bill No. 423 (BDR 32-867)

Proposed by: Committee on Taxation

Amendment Box:

Resolves Conflicts with: N/A

Amends: Summary: Title: Preamble: Joint Sponsorship:

ASSEMBLY ACTION Initial and Date | SENATE ACTION Initial and Date

Adopted Lost | Adopted Lost

Concurred In Not | Concurred In Not

Receded Not | Receded Not

Amend section 1, page 1, by deleting lines 2 through 6 and inserting:

"361.111 1. [All] Except as otherwise provided in subsections 2 and 3, all real property and improvements thereon acquired by the Nature Conservancy , American Land Conservancy or Nevada Land Conservancy and held for ultimate acquisition by the state or a local governmental unit are exempt from taxation [except as otherwise provided in subsections 2 and 3.] if:

(a) The state or a local governmental unit has agreed, in writing, that acquisition of the property will be given serious consideration; and

(b) For property for which the state has given the statement required by paragraph (a), the governing body of the county in which the property is located has approved the potential acquisition of the property by the state.

2. When the Nature Conservancy , American Land Conservancy or Nevada Land Conservancy transfers".

Amend section 1, page 1, by deleting line 13 and inserting:

"3. When the Nature Conservancy , American Land Conservancy or Nevada Land Conservancy transfers".

Amend section 1, page 2, by deleting lines 2 and 3 and inserting:

"criteria for determining when property has been held by the Nature Conservancy , American Land Conservancy or Nevada Land Conservancy for purposes of conservation.".

Amend the bill as a whole by deleting sections 2 and 3 and renumbering sections 4 and 5 as sections 2 and 3.

Amend sec. 4, page 3, by deleting line 40 and inserting:

"Conservancy [.] , American Land Conservancy or Nevada Land Conservancy.".

Amend sec. 5, page 4, by deleting lines 7 through 10 and inserting:

"Sec. 3. This act becomes effective on July 1, 1999.".

Amend the title of the bill to read as follows:

"AN ACT relating to taxation; exempting certain property acquired by the Nevada Land Conservancy and the American Land Conservancy from property taxes; revising the provisions governing the requirements for such exemptions; and providing other matters properly relating thereto.".