NRS 333A.0904
Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages.

For the period during which an installment-purchase contract or lease-purchase contract that was entered into to finance a performance contract is in effect, the property that is the subject of the installment-purchase contract or lease-purchase contract:

1.

Is exempt from ad valorem property taxation by this State and its political subdivisions if:

(a)

An improvement is being constructed on the property pursuant to the installment-purchase contract or lease-purchase contract; or

(b)

This State or a using agency is in possession of the property.

2.

Shall be deemed to be the property of this State or the using agency that is a party to the installment-purchase contract or lease-purchase contract for the purposes of statutory limits on damages that may be awarded against this State, including, without limitation, the limits in chapter 41 of NRS, with respect to any action or claim, including a claim for civil damages, that arises from or is related to the property and is brought by a person who is not a party to the installment-purchase contract or lease-purchase contract if:

(a)

An improvement is being constructed on the property pursuant to the installment-purchase contract or lease-purchase contract; or

(b)

This State or the using agency is in possession of the property.

Source: Section 333A.0904 — Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages., https://www.­leg.­state.­nv.­us/NRS/NRS-333A.­html#NRS333ASec0904.

333A.010
Definitions. 333A.015
“Board” defined. 333A.020
“Building” defined. 333A.030
“Operating cost savings” defined. 333A.040
“Operating cost-savings measure” defined. 333A.050
“Performance contract” defined. 333A.060
“Qualified service company” defined. 333A.070
“Using agency” defined. 333A.075
Authority of using agency to enter into performance contract 333A.080
Procedure for determination of qualified service companies by State Public Works Division 333A.082
Notification to qualified service companies 333A.084
Requirements for comprehensive audits. 333A.086
Third-party consultants. 333A.090
Financing and structure of performance contract 333A.091
Proceeds of refunding obligations in escrow or trust: Investment 333A.092
Recital in resolution as conclusive evidence of validity of obligation. 333A.100
Indebtedness of State under contract 333A.110
Period over which payments become due. 333A.120
Prevailing wage requirement. 333A.130
Monitoring of cost savings attributable to operating cost-savings measures. 333A.140
Information concerning performance contract provided to Office of Energy. 333A.150
Financial mechanisms to guarantee operational cost savings are realized. 333A.0902
Installment-purchase and lease-purchase contracts: Security interests 333A.0904
Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages. 333A.0906
Refunding of obligations: Resolution 333A.0908
Refunding of obligations: Disposition of proceeds 333A.0912
Issuance of refunding and other obligations separately or in combination. 333A.0914
Other statutory provisions applicable to refunding obligations. 333A.0916
Conditions for refunding obligations. 333A.0918
Conclusive determination of using agency that statutory limitations have been met.
Last Updated

Feb. 5, 2021

§ 333A.0904’s source at nv​.us