NRS 231A.310 – Qualified community development entity not entitled to pay to affiliates fees in connection with qualified investments before decertification.
A qualified community development entity is not entitled to pay to any affiliate of the qualified community development entity any fees in connection with any activity under this chapter before decertification pursuant to NRS 231A.300 of all qualified equity investments issued by the qualified community development entity. This section does not prohibit a qualified community […]
NRS 231A.320 – Duties of Director: Annual review of qualified community development entity; report to Legislature.
1. The Director shall conduct an annual review of each qualified community development entity that has been granted an application for a qualified equity investment pursuant to NRS 231A.230 to ensure that: (a) The qualified community development entity remains in compliance with the provisions of this chapter and any regulations adopted pursuant thereto; and (b) […]
NRS 231A.180 – Qualified community development entity: Requirement for allocation agreement; additional entities included.
For the purpose of NRS 231A.120, a qualified community development entity is limited to an entity that has entered into, for the current year or any prior year, an allocation agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury with respect to credits authorized by section 45D of […]
NRS 231A.200 – Vested right to credit against insurance premium tax liability: Use of credit; maximum yearly amount of credit; amount of credit that may carry forward to subsequent year.
An entity that makes a qualified equity investment earns a vested right to credit against the entity’s liability for insurance premium tax on a premium tax report filed pursuant to NRS 680B.030 that may be used as follows: 1. Except as otherwise provided in this subsection, on each credit allowance date of the qualified equity […]
NRS 231A.210 – Tax credits not to be refunded or sold; allocation of tax credits to partners, members or shareholders of earning entity.
No tax credit claimed under this chapter may be refunded or sold on the open market. Tax credits earned by a partnership, limited-liability company, S corporation or other similar pass-through entity may be allocated to the partners, members or shareholders of such an entity for their direct use in accordance with the provisions of any […]
NRS 231A.220 – Limitations on relationship between insurer or affiliate and qualified community development entity.
1. An insurer or an affiliate of an insurer may not: (a) Manage a qualified community development entity; or (b) Control the direction of equity investments for a qualified community development entity. 2. The provisions of subsection 1 apply to any entity described in subsection 1 regardless of whether the entity does business in this […]
NRS 231A.230 – Designation of investment or security as eligible for tax credit by qualified community development entity: Application requirements; duties of Department; certification of investment or security as eligible for tax credits; transferability of certified investment authority.
1. A qualified community development entity that seeks to have an equity investment or long-term debt security designated as a qualified equity investment and eligible for tax credits under this chapter must apply to the Department for that designation. An application submitted by a qualified community development entity must include the following: (a) Evidence of […]
NRS 231A.240 – Use of qualified equity investments by qualified entity: Percentage required to be invested in severely distressed census tracts; reduction in required percentage by Director; refinancing of investments.
1. A qualified community development entity which issues qualified equity investments under this chapter shall make qualified low-income community investments in businesses located in severely distressed census tracts, on a combined basis with all of its affiliated qualified community development entities that have issued qualified equity investments under this chapter, in an amount equal to […]
NRS 231A.245 – Qualified low-income community investments: Investments from more than one qualified community development entity; use of certain money for investments.
1. A qualified community development entity may make a qualified low-income community investment jointly with one or more other qualified community development entities. 2. A qualified community development entity may make a qualified low-income community investment using money attributable to: (a) The purchase price of a qualified equity investment; (b) The amount paid to a […]
NRS 231A.250 – Circumstances requiring recapture by Department of tax credits.
Except as otherwise provided in NRS 231A.260, the Department shall recapture, from the entity that claimed the credit on a return, the tax credit allowed under this chapter if: 1. Any amount of a federal tax credit available with respect to a qualified equity investment that is eligible for a credit under this chapter is […]