NAC354.8662. “Payments in lieu of taxes” defined.

Latest version.

“Payments in lieu of taxes” means payments that:

     1. Are made to a local government to help offset losses in property taxes;

     2. Can be independently determined and verified; and

     3. Relate to specific property taxes.

(Added to NAC by Com. on Local Gov’t Finance by R007-12, eff. 12-20-2012)

                    
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