Section 231A.090 - Recapture: Notice to Department1. For the purposes of subsection 1 of NRS 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363, a qualified community development entity or impact qualified community development entity which has certified investment authority pursuant to NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, regarding any portion of a qualified equity investment or impact qualified equity investment shall notify the Department not later than 30 days after the qualified community development entity or impact qualified community development entity, as applicable:(a) Learns of the recapture under section 45D of the Internal Revenue Code of 1986, 26 U.S.C. § 45D, of any amount of a federal tax credit relating to the portion of the qualified equity investment or impact qualified equity investment regarding which the qualified community development entity or impact qualified community development entity has certified investment authority; or(b) Experiences a recapture event as described in section 45D of the Internal Revenue Code of 1986, 26 U.S.C. § 45D.2. For the purposes of section 2, a qualified community development entity or impact qualified community development entity which has certified investment authority pursuant to NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, regarding any portion of a qualified equity investment or impact qualified equity investment shall notify the Department not later than 30 days after the qualified community development entity or impact qualified community development entity, as applicable, experiences a recapture event described in section 2.3. The provisions of this section apply to a qualified community development entity or impact qualified community development entity without regard to whether the entity received its certified investment authority regarding a portion of a qualified equity investment or impact qualified equity investment, as applicable: (a) By applying for and receiving certification pursuant to NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, for the qualified equity investment or impact qualified equity investment; or(b) Through a transfer pursuant to subsection 7 of NRS 231A.230, as amended by section 16 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3360, from another qualified community development entity or impact qualified community development entity.Nev. Admin. Code § 231A.090
Added to NAC by Dep't of Business & Industry by R103-13, eff. 6-23-2014; A by R036-23A, eff. 4/19/2024NRS 231A.150, 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363