NAC348A.300. Fee for allocation of portion of state ceiling.

     1. If a portion of the state ceiling for private activity bonds allocated to or controlled by the Director is assigned, transferred or committed to a recipient or an allocation certificate is issued by the Director, the sponsor of the project shall pay or become obligated to pay to the Director a fee for the allocation of that portion of the state ceiling for private activity bonds in the amount of $600 per $1,000,000 or any fraction thereof of the portion that is the subject of the transfer, assignment, commitment or allocation certificate.

     2. The payment must be remitted at the time of:

     (a) The assignment or transfer;

     (b) The issuance of the allocation certificate; or

     (c) The issuance of the bonds,

Ê whichever date of payment is agreed to by the Director and the applicant or recipient.

     3. The Director will use the fees collected pursuant to this section exclusively to support the operations of his or her office that are in connection with the programs administered pursuant to the provisions of chapters 348A and 349 of NRS and any regulations adopted pursuant thereto.

     4. The Director will establish the appropriate accounts and procedures for the deposit and expenditure of money received pursuant to this section.

     5. This section applies to:

     (a) Any transfer or assignment of, or any allocation certificate issued for, any portion of the state ceiling for private activity bonds that is subject to the authority of the Director; and

     (b) Any other official act performed by the Director that allocates, obligates, uses or commits any such portion of the state ceiling for private activity bonds.

     (Added to NAC by Dep’t of Commerce, eff. 7-6-92; A by Dep’t of Business & Industry by R104-08, 12-17-2008)