NRS 231A.020
Legislative findings and declaration.

The Legislature hereby finds and declares that:

1.

The purpose of this chapter is to provide community development and economic stimulation, particularly to distressed areas of this State;

2.

All qualified community development entities, including, without limitation, minority-owned community development entities and those that have not entered into an allocation agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury, need to be involved in community development efforts; and

3.

To maximize the benefit of this chapter, qualified community development entities that have entered into such allocation agreements are encouraged to work with all groups that are involved in community development in distressed areas, including, without limitation, minority-owned qualified community development entities, community development entities that have not entered into such allocation agreements and other Nevada-based entities that engage in community development.

Source: Section 231A.020 — Legislative findings and declaration., https://www.­leg.­state.­nv.­us/NRS/NRS-231A.­html#NRS231ASec020.

231A.010
Short title. 231A.020
Legislative findings and declaration. 231A.030
Definitions. 231A.040
“Applicable percentage” defined. 231A.050
“Credit allowance date” defined. 231A.060
“Department” defined. 231A.070
“Director” defined. 231A.075
“Fresh food retailer” defined. 231A.080
“Liability for insurance premium tax” defined. 231A.090
“Long-term debt security” defined. 231A.100
“Purchase price” defined. 231A.110
“Qualified active low-income community business” defined. 231A.120
“Qualified community development entity” defined. 231A.130
“Qualified equity investment” defined. 231A.135
“Qualified fresh food retailer” defined. 231A.140
“Qualified low-income community investment” defined. 231A.145
“Underserved community” defined. 231A.150
Regulations. 231A.160
Qualifications for long-term debt security. 231A.170
Qualified active low-income community business: Qualification 231A.180
Qualified community development entity: Requirement for allocation agreement 231A.200
Vested right to credit against insurance premium tax liability: Use of credit 231A.210
Tax credits not to be refunded or sold 231A.220
Limitations on relationship between insurer or affiliate and qualified community development entity. 231A.230
Designation of investment or security as eligible for tax credit by qualified community development entity: Application requirements 231A.240
Use of qualified equity investments by qualified entity: Percentage required to be invested in severely distressed census tracts 231A.245
Qualified low-income community investments: Investments from more than one qualified community development entity 231A.250
Circumstances requiring recapture by Department of tax credits. 231A.260
Recapture: Cure period 231A.270
Designation of investment or security as qualified equity investment by qualified community development entity: Fee. 231A.280
Department to issue letter rulings regarding tax credits: Requirements for letter rulings 231A.290
Entity claiming tax credit not required to pay additional taxes resulting from claim of credit. 231A.300
Decertification of qualified equity investment: Circumstances 231A.310
Qualified community development entity not entitled to pay to affiliates fees in connection with qualified investments before decertification. 231A.320
Duties of Director: Annual review of qualified community development entity
Last Updated

Feb. 5, 2021

§ 231A.020’s source at nv​.us