Nevada Revised Statutes
Chapter 231A - Nevada New Markets Jobs Act
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 development entity from allocating or distributing income earned by it to such affiliates or paying reasonable interest on amounts loaned to the qualified community development entity by those affiliates.
(Added to NRS by 2013, 3453)

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Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 231A - Nevada New Markets Jobs Act

NRS 231A.010 - Short title.

NRS 231A.020 - Legislative findings and declaration.

NRS 231A.030 - Definitions.

NRS 231A.040 - "Applicable percentage" defined.

NRS 231A.050 - "Credit allowance date" defined.

NRS 231A.060 - "Department" defined.

NRS 231A.070 - "Director" defined.

NRS 231A.075 - "Fresh food retailer" defined.

NRS 231A.080 - "Liability for insurance premium tax" defined.

NRS 231A.090 - "Long-term debt security" defined.

NRS 231A.100 - "Purchase price" defined.

NRS 231A.110 - "Qualified active low-income community business" defined.

NRS 231A.120 - "Qualified community development entity" defined.

NRS 231A.130 - "Qualified equity investment" defined.

NRS 231A.135 - "Qualified fresh food retailer" defined.

NRS 231A.140 - "Qualified low-income community investment" defined.

NRS 231A.145 - "Underserved community" defined.

NRS 231A.150 - Regulations.

NRS 231A.160 - Qualifications for long-term debt security.

NRS 231A.170 - Qualified active low-income community business: Qualification; limitations; exclusions.

NRS 231A.180 - Qualified community development entity: Requirement for allocation agreement; additional entities included.

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.

NRS 231A.210 - Tax credits not to be refunded or sold; allocation of tax credits to partners, members or shareholders of earning entity.

NRS 231A.220 - Limitations on relationship between insurer or affiliate and qualified community development entity.

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; transferab...

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.

NRS 231A.245 - Qualified low-income community investments: Investments from more than one qualified community development entity; use of certain money for investments.

NRS 231A.250 - Circumstances requiring recapture by Department of tax credits.

NRS 231A.260 - Recapture: Cure period; notice requirement.

NRS 231A.270 - Designation of investment or security as qualified equity investment by qualified community development entity: Fee.

NRS 231A.280 - Department to issue letter rulings regarding tax credits: Requirements for letter rulings; letter rulings binding on Department, agents or successors until tax credits claimed.

NRS 231A.290 - Entity claiming tax credit not required to pay additional taxes resulting from claim of credit.

NRS 231A.300 - Decertification of qualified equity investment: Circumstances; limitations on distribution and payment on securities by qualified community development entity; notice requirements.

NRS 231A.310 - Qualified community development entity not entitled to pay to affiliates fees in connection with qualified investments before decertification.

NRS 231A.320 - Duties of Director: Annual review of qualified community development entity; report to Legislature.