Section 231.535 - Use of grant; contribution by airport or recipient of grant1. A grant may only be used to: (a) Guarantee that an air carrier will receive an agreed amount of revenue for each flight that the air carrier operates in or out of the airport; or(b) Guarantee an amount of profit for an air carrier that is established by an agreement between the air carrier and the airport.2. A recipient of a grant must use the grant to pay 80 percent of the cost of the guarantee set forth in the operating agreement between the local government, the airport and the air carrier. Except as otherwise provided in subsection 3, the remaining 20 percent of the cost of the guarantee must be paid by the airport or the recipient of the grant. The contribution to the cost of the guarantee from the airport or the local government must be in the form of money or in kind, or both. An in-kind contribution may be in the following forms: (a) A waiver or reduction in favor of the air carrier, based on reasonable and customary rates for the following: (3) Fees for supporting the operations of the air carrier; or(4) Any other airport charges or taxes; or(b) Marketing and advertising services provided by the airport or the local government to the air carrier.3. All or any portion of the contribution required pursuant to subsection 2 may be provided through the recipient of the grant by a connecting airport or any other business entity receiving a benefit from any air service subsidized pursuant to NAC 231.500 to 231.550, inclusive.Nev. Admin. Code § 231.535
Added to NAC by Comm'n on Tourism by R190-07, eff. 4-17-2008§ 13 of ch. 345, Stats. 2007