Existing law requires the Director of the Office of Energy to grant a partial abatement of certain property taxes for a building or other structure that meets certain energy efficiency standards under the Green Building Rating System adopted by the Director. However, existing law prohibits the Director from: (1) approving applications for the partial tax abatement submitted on or after July 1, 2021; and (2) altering or amending the Green Building Rating System after that date. (NRS 701A.100, 701A.110) Section 2 of this bill removes the prohibition on the Director approving applications on or after July 1, 2021, thereby allowing the Director to begin approving applications for the partial abatement again. Section 2 revises the amount and duration of the partial abatement available to buildings and other structures meeting certain requirements to provide: (1) a partial abatement of 20-35 percent annually for a duration of not more than 10 years for a building or other structure that is new; (2) a partial abatement of 20-35 percent annually for a duration of not more than 5 years for an existing building or other structure which did not receive a partial abatement before July 1, 2021; and (3) a partial abatement of 5 percent annually for a duration of not more than 3 years for an existing building or structure that previously received a partial abatement before July 1, 2021, and which is recertified under the Green Building Rating System. Existing law requires the Green Building Rating System adopted by the Director to include standards and ratings equivalent to the standards and ratings provided pursuant to the Leadership in Energy and Environmental Design (LEED) Green Building Rating System or an equivalent rating system. (NRS 701A.100) Section 1 of this bill revises the requirements for the Green Building Rating System adopted by the Director. Section 1 requires the Green Building Rating System adopted by the Director to require a building or other structure which did not receive an abatement before July 1, 2021, to obtain certain resilience credits to meet the equivalent of the silver, gold, platinum or zero carbon level. The amount of the partial abatement which a building or other structure is eligible to receive pursuant to section 2 relates to which of these levels the building or other structure meets. Section 1 requires the Director to adopt regulations identifying the credits under the LEED Green Building Rating System or equivalent rating system that are deemed resilience credits for the purposes of the Green Building Rating System adopted by the Director. Section 1 requires the Green Building Rating System to require a new building or other structure to have energy performance which exceeds the applicable building code by certain percentage amounts to meet the equivalent of the silver, gold or platinum level. Section 1 requires the Green Building Rating System to require an existing building or other structure that has not previously received a partial abatement to: (1) qualify for the alternative deduction for energy efficient building retrofit property under the Internal Revenue Code; and (2) to achieve net zero carbon emissions to meet the equivalent of the zero carbon level. Section 1 requires the Green Building Rating System to require a building or other structure that received a partial abatement before July 1, 2021, to obtain recertification under the LEED Green Building Rating System or its equivalent and either have energy performance which meets the requirements of the building code of the applicable jurisdiction with respect to new buildings or qualify for the alternative deduction for energy efficient building retrofit property. Section 1 requires the Green Building Rating System to require a building or other structure that includes connected parking to obtain certain certifications with respect to such parking. Section 2 requires the Director to adopt regulations: (1) prescribing a procedure for the State or a local government to obtain a partial abatement and, in exchange for compensation, assign it to another building or other structure in the same county that has also received a partial abatement; and (2) requiring recipients of a partial abatement to annually report to the Office of Economic Development the energy and water consumption of the building or other structure that is subject to a partial abatement and such other information as the Director requires. Section 2 requires the Director to include information relating to energy and water savings by buildings and other structures that received a partial abatement in the annual report the Director is required to submit to the Office.

Statutes affected:
As Introduced: 701A.100, 701A.110
BDR: 701A.100, 701A.110