Assembly Amendment to Assembly Bill No. 567 (BDR 32-1340)
Proposed by: Committee on Taxation
Amendment Box:
Amends: Summary: Title: Preamble: Joint Sponsorship:
ASSEMBLY ACTION
Initial and Date | SENATE ACTION Initial and DateAdopted Lost | Adopted Lost
Concurred In Not | Concurred In Not
Receded Not | Receded Not
Amend the bill as a whole by deleting section 1 and adding a new section designated section 1, following the enacting clause, to read as follows:
"Section 1. Chapter 361 of NRS is hereby amended by adding thereto a new section to read as follows:
1. The personal property of an employer who provides a free pass for public transit to an employee for the entire fiscal year preceding the fiscal year for which the exemption is claimed, not to exceed the amount of $3,500 of assessed valuation, is exempt from taxation.
2. An employer must file his claim for the exemption on or before June 15 preceding the fiscal year for which the exemption is claimed with the county assessor of the county in which the personal property of the business is located.
3. The department shall prescribe by regulation the form to be used to make a claim pursuant to this section.
4. As used in this section:
(a) "Pass for public transit" means a card or other object that, when held by a person, entitles the person to use one or more of the methods of conveyance employed by a public transit system without paying an additional fare.
(b) "Public transit system" has the meaning ascribed to it in NRS 377A.016.".
Amend the title of the bill to read as follows:
"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.".
Amend the summary of the bill to read as follows:
"SUMMARY—Provides partial exemption from personal property tax for employer who provides free pass for public transit to employee. (BDR 32-1340)".