NRS 274.240
Powers of designating municipality: Issuing securities

  • reducing certain taxes, fees or service charges
  • improving governmental services
  • providing financing
  • cooperating with other governmental agencies.
To encourage the revitalization of specially benefited zones, the governing body of a designating municipality may:

1.

Issue bonds or other securities authorized by other law for the purposes of economic development and use the proceeds for loans to any new or expanding qualified businesses in the specially benefited zone.

2.

Reduce or eliminate any license or franchise tax, fee or service charge which would otherwise be imposed against qualified businesses within the specially benefited zone.

3.

Develop and carry out, alone or where feasible with the participation of one or more designated neighborhood organizations as provided in NRS 274.250, programs to improve needed governmental services within the specially benefited zone.

4.

Develop and carry out a plan to:

(a)

Ensure the availability of resources to assist residents of the specially benefited zone in their own efforts to improve the condition of property and the availability and quality of public services within the zone.

(b)

Provide or seek assistance for persons or businesses displaced as a result of undertakings or other activities conducted pursuant to this chapter.

5.

Provide financing by tax increment pursuant to chapter 278C of NRS.

6.

Cooperate with any other governmental agency to provide any other incentive likely to encourage private investment within the specially benefited zone.

Source: Section 274.240 — Powers of designating municipality: Issuing securities; reducing certain taxes, fees or service charges; improving governmental services; providing financing; cooperating with other governmental agencies., https://www.­leg.­state.­nv.­us/NRS/NRS-274.­html#NRS274Sec240.

274.010
Definitions. 274.020
“Administrator” defined. 274.030
“Depressed area” defined. 274.040
“Designating municipality” defined. 274.050
“Governing body” defined. 274.060
“Municipality” defined. 274.070
“Qualified business” defined. 274.080
“Zone” defined. 274.090
Administrator: Administration of chapter 274.100
Administrator: Duties. 274.110
Administrator: Procedure for review of state regulations. 274.120
Administrator: Adoption of regulations exempting certain businesses from state regulations. 274.130
Exemption of businesses by agency from its regulations 274.140
Exceptions to exemptions from regulations or ordinances. 274.150
Qualifications for zone. 274.160
Designation of area as zone 274.170
Contents of application to Governor for designation of area as zone. 274.180
Review of application by Administrator and Governor. 274.190
Criteria for designation of zone by Governor. 274.200
Certification of zone by Governor 274.210
Program for training and employment of residents in zone 274.220
Manager of zone: Appointment 274.230
Powers of designating municipality: Cooperation with federal, state and local governments 274.240
Powers of designating municipality: Issuing securities 274.250
Powers of designating municipality: Delegation of services to private organizations. 274.260
Proposal by business to participate in benefits of zone 274.270
Investigation by governing body of proposal by business to participate in benefits of zone 274.280
Procedure to amend ordinance designating zone. 274.290
Termination of zone. 274.300
Effect upon benefits if zone terminated or modified or benefits reduced or eliminated.
Last Updated

Feb. 5, 2021

§ 274.240’s source at nv​.us