may apply to the commission on economic development for a partial

abatement of one or more of the taxes imposed on the new or expanded

business pursuant to chapter 361, 364A or 374 of NRS.

application for a partial abatement if the commission makes the

following determinations:

(1) The state plan for industrial development and diversification

that is developed by the commission pursuant to NRS 231.067; and

(2) Any guidelines adopted pursuant to the state plan.

which states that the business will, after the date on which a certificate of

eligibility for the abatement is issued pursuant to subsection 5, continue

in operation in this state for a period specified by the commission, which

must be at least 5 years, and will continue to meet the eligibility

requirements set forth in this subsection. The agreement must bind the

successors in interest of the business for the specified period.

applicant commits to obtain a valid business license and all other permits

required by the county, city or town in which the business operates.

new business in a county or city whose population is 50,000 or more, the

business meets at least two of the following requirements:

(1) The business will have 75 or more full-time employees on the

payroll of the business by the fourth quarter that it is in operation.

(2) Establishing the business will require the business to make a

capital investment of at least $1,000,000 in this state.

(3) The average hourly wage that will be paid by the new business

to its employees in this state is at least 100 percent of the average

statewide hourly wage as established by the employment security division

of the department of employment, training and rehabilitation on July 1

of each fiscal year and:

(I) The business will provide a health insurance plan for all

employees that includes an option for health insurance coverage for

dependents of the employees; and

(II) The cost to the business for the benefits the business provides

to its employees in this state will meet the minimum requirements for

benefits established by the commission by regulation pursuant to

subsection 9.

new business in a county or city whose population is less than 50,000, the

business meets at least two of the following requirements:

(1) The business will have 25 or more full-time employees on the

payroll of the business by the fourth quarter that it is in operation.

(2) Establishing the business will require the business to make a

capital investment of at least $250,000 in this state.

(3) The average hourly wage that will be paid by the new business

to its employees in this state is at least 100 percent of the average

statewide hourly wage as established by the employment security division

of the department of employment, training and rehabilitation on July 1

of each fiscal year and:

(I) The business will provide a health insurance plan for all

employees that includes an option for health insurance coverage for

dependents of the employees; and

(II) The cost to the business for the benefits the business provides

to its employees in this state will meet the minimum requirements for

benefits established by the commission by regulation pursuant to

subsection 9.

two of the following requirements:

payroll by 10 percent more than it employed in the immediately

preceding fiscal year or by six employees, whichever is greater.

state in an amount equal to at least 20 percent of the value of the

tangible property possessed by the business in the immediately preceding

fiscal year. The determination of the value of the tangible property

possessed by the business in the immediately preceding fiscal year must

be made by the:

(I) County assessor of the county in which the business will

expand, if the business is locally assessed; or

(II) Department, if the business is centrally assessed.

business to its new employees in this state is at least 100 percent of the

average statewide hourly wage as established by the employment security

division of the department of employment, training and rehabilitation on

July 1 of each fiscal year and:

(I) The business will provide a health insurance plan for all new

employees that includes an option for health insurance coverage for

dependents of the employees; and

(II) The cost to the business for the benefits the business provides

to its new employees in this state will meet the minimum requirements for

benefits established by the commission by regulation pursuant to

subsection 9.

economic development may:

(a) Approve an application for a partial abatement by a business that

does not meet the requirements set forth in paragraph (d), (e) or (f) of

subsection 2;

(b) Make the requirements set forth in paragraph (d), (e) or (f) of

subsection 2 more stringent; or

(c) Add additional requirements that a business must meet to qualify

for a partial abatement,

if the commission determines that such action is necessary.

development pursuant to subsection 1, the commission shall provide

notice to the governing body of the county and the city or town, if any, in

which the person intends to locate or expand a business. The notice

required pursuant to this subsection must set forth the date, time and

location of the hearing at which the commission will consider the

application.

5. If the commission on economic development approves an

application for a partial abatement, the commission shall immediately

forward a certificate of eligibility for the abatement to:

(a) The department;

(b) The Nevada tax commission; and

(c) If the partial abatement is from the property tax imposed pursuant

to chapter 361 of NRS, the county treasurer.

6. An applicant for a partial abatement pursuant to this section or an

existing business whose partial abatement is in effect shall, upon the

request of the executive director of the commission on economic

development, furnish the executive director with copies of all records

necessary to verify that the applicant meets the requirements of

subsection 2.

to this section and is in effect ceases:

(a) To meet the requirements set forth in subsection 2; or

(b) Operation before the time specified in the agreement described in

paragraph (b) of subsection 2,

the business shall repay to the department or, if the partial abatement

was from the property tax imposed pursuant to chapter 361 of NRS, to

the county treasurer, the amount of the exemption that was allowed

pursuant to this section before the failure of the business to comply

unless the Nevada tax commission determines that the business has

substantially complied with the requirements of this section. The business

is also required to pay interest on the amount due at the rate most

recently established pursuant to NRS 99.040 for each month, or portion

thereof, from the last day of the month following the period for which the

payment would have been made had the partial abatement not been

approved until the date of payment of the tax.

(a) Shall deposit any money that he receives pursuant to subsection 7

in one or more of the funds established by a local government of the

county pursuant to NRS 354.611, 354.6113 or 354.6115; and

(b) May use the money deposited pursuant to paragraph (a) only for

the purposes authorized by NRS 354.611, 354.6113 and 354.6115.

(a) Shall adopt regulations regarding:

(1) The minimum level of benefits that a business must provide to

its employees if the business is going to use benefits paid to employees as

a basis to qualify for a partial abatement; and

(2) The notice that must be provided pursuant to subsection 4.

(b) May adopt such other regulations as the commission on economic

development determines to be necessary to carry out the provisions of this

section.

(a) Shall adopt regulations regarding:

(1) The capital investment that a new business must make to meet

the requirement set forth in paragraph (d) or (e) of subsection 2; and

(2) Any security that a business is required to post to qualify for a

partial abatement pursuant to this section.

(b) May adopt such other regulations as the Nevada tax commission

determines to be necessary to carry out the provisions of this section.

decision of the commission on economic development may petition for

judicial review in the manner provided in chapter 233B of NRS.

1. partial abatement from the taxes imposed by this chapter, the

1. commission on economic development must determine that, in addition

1. to meeting the other requirements set forth in subsection 2 of that

1. section:

1. (a) If the business is a new business in a county or city whose

1. population is 50,000 or more:

1. (1) The business will make a capital investment in the county of at

1. least $50,000,000 if the business is an industrial or manufacturing

1. business or at least $5,000,000 if the business is not an industrial or

1. manufacturing business; and

1. (2) The average hourly wage that will be paid by the new business

1. to its employees in this state is at least 100 percent of the average

1. statewide hourly wage as established by the employment security division

1. of the department of employment, training and rehabilitation on July 1

1. of each fiscal year.

1. (b) If the business is a new business in a county or city whose

1. population is less than 50,000:
2. (1) The business will make a capital investment in the county of at

1. least $5,000,000 if the business is an industrial or manufacturing

1. business or at least $500,000 if the business is not an industrial or

1. manufacturing business; and

1. (2) The average hourly wage that will be paid by the new business

1. to its employees in this state is at least 100 percent of the average

1. statewide hourly wage as established by the employment security division

1. of the department of employment, training and rehabilitation on July 1

1. of each fiscal year.

1. 3. If a partial abatement from the taxes imposed by this chapter is

1. approved by the commission on economic development pursuant to

1. section 1 of this act:

1. (a) The partial abatement must:

1. (1) Be for a duration of at least 1 year but not more than 10 years;

1. (2) Not exceed 50 percent of the taxes payable by a business each

1. year pursuant to this chapter; and

1. (3) Be administered and carried out in the manner set forth in

1. section 1 of this act.

1. (b) The executive director of the commission on economic

1. development shall notify the county assessor of the county in which the

1. business is located of the approval of the partial abatement, including,

1. without limitation, the duration and percentage of the partial abatement

1. that the commission granted. The executive director shall, on or before

1. April 15 of each year, advise the county assessor of each county in which

1. a business qualifies for a partial abatement during the current fiscal year

1. as to whether the business is still eligible for the partial abatement in the

1. next succeeding fiscal year.

1. due pursuant to NRS 364A.140 is approved by the commission on
2. economic development pursuant to section 1 of this act, the partial

1. abatement must be administered and carried out in the manner set forth

1. in section 1 of this act.

1. manner set forth in section 1 of this act.

director of the legislative counsel bureau for transmission to the

legislature a report concerning the abatements from taxation that the

commission approved pursuant to section 1 of this act. The report must

set forth, for each abatement from taxation that the commission

approved in the 2-year period immediately preceding the submission of

the report:

approved;

abatement was approved employs or will employ;

new business or an existing business; and

.