Section 361.620 - Grant of abatement by Commission1. Except as otherwise provided in subsection 2, if the Commission determines that the application satisfies all requirements of NAC 361.617 to 361.620, inclusive, the Commission will grant a partial abatement of the taxes on real property payable each year pursuant to chapter 361 of NRS in accordance with the following table: | LEED Level | LEED-NC Points | LEED-EB Points | Term of Abatement | Amount of Abatement |
| Silver | 33 to 36 | 40 to 45 | 10 years | 35 to 42 percent |
| | | 5 to 7 years | 50 percent |
| 37 or 38 | 46 or 47 | 10 years | 43 to 48 percent |
| | | 8 or 9 years | 50 percent |
| Gold | 39 or more | 48 or more | 10 years | 49 or 50 percent |
2. The Commission will reduce the partial abatement of real property taxes authorized by subsection 1 to the extent necessary to ensure that: (a) If the real property for which the partial abatement is sought is located in a redevelopment area created pursuant to chapter 279 of NRS, the partial abatement authorized by subsection 1 together with any partial abatement of taxes to which the owner of the property is entitled pursuant to NRS 361.4722, 361.4723 or 361.4724 does not exceed 82 percent of the assessed value of the property; and(b) The partial abatement authorized by subsection 1 does not result in the inability of a local government to pay debt service on any obligation or of a redevelopment agency created pursuant to chapter 279 of NRS to pay any outstanding indebtedness.3. If the Commission grants a partial abatement of real property taxes, the abatement applies beginning July 1 of the next following fiscal year, unless the applicant and the governing body of the local government whose tax revenue will be affected by the abatement agree upon a different date and the governing body provides written authorization for the different date.4. Upon granting a partial abatement of real property taxes, the Commission will issue a certificate of eligibility for the abatement that sets forth all parcel numbers of the affected property and the percentage of the taxes on real property payable each year pursuant to chapter 361 of NRS and duration for which the abatement is granted.5. As used in this section, unless the context otherwise requires: (a) "LEED-EB" means the LEED Green Building Rating System for Existing Buildings, Upgrades, Operations and Maintenance; and(b) "LEED-NC" means the LEED Green Building Rating System for New Construction & Major Renovations.Nev. Admin. Code § 361.620
Added to NAC by Comm'n on Econ. Development by R220-05, eff. 9-18-2006