NAC319.996. Projects financed by tax-exempt bonds: Applicability of certain provisions; application for tax credits.

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     1. Except as otherwise provided in this section, tax credits awarded to a project that is financed by 50 percent or more of the proceeds of tax-exempt bonds are governed by the provisions of NAC 319.951 to 319.999, inclusive.

     2. The provisions of NAC 319.972 to 319.978, inclusive, 319.980, 319.981, 319.988, 319.990, 319.991 and 319.992 do not apply to tax credits awarded to a project specified in subsection 1.

     3. An application for tax credits for a project specified in subsection 1 must be completed and will be evaluated in connection with the application for the financing of any bonds for that project.

(Added to NAC by Housing Div. by R057-97, eff. 1-15-98; A by R124-04, 10-4-2004)

                    
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