Nevada Administrative Code (Last Updated: January 6, 2015)

NAC231A.080. Recapture: Amount of tax credits Department will recapture.

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For the purposes of NRS 231A.250, if a qualified community development entity transfers, pursuant to subsection 6 of NRS 231A.230, all or a portion of its certified qualified equity investment authority regarding a qualified equity investment to another qualified community development entity, and:

1. The transferee causes a recapture of tax credits pursuant to NRS 231A.250, the Department will recapture only those tax credits relating to the portion of the qualified equity investment regarding which the transferee received certified qualified equity investment authority.

2. The transferor causes a recapture of tax credits pursuant to NRS 231A.250, the Department will recapture only those tax credits relating to the portion of the qualified equity investment regarding which the transferor retained certified qualified equity investment authority.

(Added to NAC by Dep’t of Business & Industry by R103-13, eff. 6-23-2014)

                    
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