Nev. Rev. Stat. § 231A.320

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 231A.320 - Duties of Director: Annual review of qualified community development entity and impact qualified community development entity; report to Legislature

1. The Director shall conduct an annual review of each qualified community development entity and impact qualified community development entity that has been granted an application for a qualified equity investment or impact qualified equity investment pursuant to NRS 231A.230 to ensure that:

(a) The qualified community development entity or impact qualified community development entity remains in compliance with the provisions of this chapter and any regulations adopted pursuant thereto; and

(b) Any qualified equity investment or impact qualified equity investment certified pursuant to NRS 231A.230 meets the eligibility criteria prescribed in this chapter and any regulations adopted pursuant thereto.

2. On June 30 of each even-numbered year, the Director shall submit a report to the Director of the Legislative Counsel Bureau for transmittal to the Legislature. The report must include, for each qualified equity investment and impact qualified equity investment certified pursuant to NRS 231A.230:

(a) Information on the impact of the qualified equity investment or impact qualified equity investment on the economy of this State, including, without limitation, the number of jobs created by the qualified equity investment or impact qualified equity investment; and

(b) Proof that the qualified community development entity or impact qualified community development entity responsible for the qualified equity investment or impact qualified equity investment is in compliance with the provisions of this chapter and any regulations adopted pursuant thereto.

NRS 231A.320

Added to NRS by 2013, 3454; A 2023, 3366

Amended by 2023, Ch. 517,§24, eff. 7/1/2023.

Added by 2013, Ch. 532,§23.5, eff. 6/12/2013 for the purpose of adopting regulations and performing any other preparatory administrative tasks that are necessary to carry out the provisions of this act, and on 10/1/2013 for all other purposes.