Bill > AB226

This bill revises provisions related to economic development by requiring businesses applying for certain tax credits or tax abatements to include a commitment to collaborate with the local community and submit a community benefits agreement within two years of application approval. Specifically, the bill amends multiple sections of Nevada Revised Statutes to add a new certification requirement for applicants seeking tax benefits through the Office of Economic Development. Under the new provisions, businesses applying for transferable tax credits, partial tax abatements, or other economic development incentives must certify that they will: (1) collaborate with the community in which they are located, and (2) submit a community benefits agreement to the Office of Economic Development within two years of the application's approval. The bill applies to various types of tax credits and abatements, including those for new businesses, data centers, businesses in historically underutilized zones, and enterprise communities. These amendments are set to take effect on July 1, 2025, and aim to ensure that businesses receiving state economic development incentives actively engage with and contribute to the local communities where they operate.

Budget and Finance, Business and Industry

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12228/Overview