Existing law authorizes a person who intends to locate or expand a business in this State to apply to the Office of Economic Development for a partial abatement of certain taxes. Under existing law, if the applicant is locating a new business in this State and satisfies certain criteria, the Office is authorized to approve a partial abatement of certain property taxes, the modified business tax and all sales and use taxes except for the taxes imposed by the Sales and Use Tax Act of 1955. However, if the applicant is expanding a business in this State and satisfies certain criteria, the Office is authorized to approve a partial abatement of the same types of taxes except that the Office is additionally prohibited from approving a partial abatement of the Local School Support Tax. In addition, existing law prohibits the Office from approving an application for such a partial abatement if the applicant intends to expand a business in a county and has already received a partial abatement for expanding that business in that county. (NRS 360.750) This bill removes this prohibition, thereby authorizing a business to obtain a partial abatement for multiple expansions of a business in a county while maintaining the existing prohibition against the approval of a partial abatement of the Local School Support Tax for an expanding business.

Statutes affected:
BDR: 360.750