Section 387.550 - Fund to Assist School Districts in Financing Capital Improvements: Determination by Department of Taxation of compliance with criteria for grant of moneyIf the board of trustees of a school district applies to the Director of the Department of Administration for a grant of money from the Fund to Assist School Districts in Financing Capital Improvements created pursuant to NRS 387.333, the Department of Taxation shall establish whether:
1. A comparison of the assessed valuation of the taxable property of the county in which the school district is located for each of the immediately preceding 3 years illustrates that the assessed valuation is declining as required pursuant to subsection 1 of NRS NRS 387.3335;2. All resources other than the information required pursuant to subsection 1 that are available to the school district are diminishing as required pursuant to subsection 1 of NRS NRS NRS 387.3335; and3. The combined ad valorem tax rate of the county in which the school district is located is at the limit imposed by NRS NRS NRS 361.453 as required by NRS NRS NRS 387.3335.Nev. Admin. Code § 387.550
Added to NAC by Tax Comm'n by R005-00, eff. 3-2-2001