Nev. Admin. Code § 361.123

Current through June 11, 2024

Section 361.123 - Contaminated property: Definitions

As used in NAC 361.123 to 361.1236, inclusive, unless the context otherwise requires:

1. "Contaminated site" means:

(a) Land on which the release of a hazardous substance has been verified pursuant to NAC 361.1232; or

(b) An improvement for which permeation or incorporation into construction by a hazardous substance has been verified pursuant to NAC 361.1232, on or before the assessment date of the property.

2. "Cost-to-cure" means the present value of the remedial work to be performed to remove, contain or treat a hazardous substance on the property being valued. The term includes the cost of continued monitoring of the site after the remedial work has been completed if such monitoring is required.

3. "Hazardous substance" means a hazardous material or hazardous waste as those terms are defined in NRS 459.428 and 459.430, respectively.

Nev. Admin. Code § 361.123

Added to NAC by Tax Comm'n, eff. 7-16-92; A by R031-03, 8-4-2004

NRS 360.090, 360.250, 361.227