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Nevada Revised Statutes Title 32. Revenue and Taxation § 361.0683. Partial abatement of taxes imposed on personal property located at new or expanded data center

Current as of January 01, 2025 | Updated by Findlaw Staff

<Section expires by limitation effective Dec. 31, 2056.>

1. A person who intends to locate or expand a data center in this State may, pursuant to NRS 360.754, apply to the Office of Economic Development for a partial abatement from the taxes imposed by this chapter on personal property located at the data center.

2. If a partial abatement from the taxes imposed by this chapter on personal property located at the data center is approved by the Office of Economic Development pursuant to NRS 360.754:

(a) The partial abatement must:

(1) For an applicant seeking an abatement pursuant to paragraph (d) of subsection 2 of NRS 360.754:

(I) Be for a duration of at least 1 year but not more than 10 years; and

(II) Not exceed 75 percent of the taxes payable by the data center each year pursuant to this chapter on personal property located at the data center;

(2) For an applicant seeking an abatement pursuant to paragraph (e) of subsection 2 of NRS 360.754:

(I) Be for a duration of at least 10 years but not more than 20 years; and

(II) Subject to any limitation on the abatement set forth in NRS 360.750, not exceed 75 percent of the taxes payable by the data center each year pursuant to this chapter on personal property located at the data center; and

(3) Be administered and carried out in the manner set forth in NRS 360.754.

(b) The Executive Director of the Office of Economic Development shall notify the county assessor of each county in which the data center is located of the approval of the partial abatement, including, without limitation, the duration and percentage of the partial abatement that the Office granted and the applicability of the partial abatement to any colocated business. The Executive Director shall, on or before April 15 of each year, advise the county assessor of each county in which a data center qualifies for a partial abatement during the current fiscal year as to whether the data center or any colocated business is still eligible for the partial abatement in the next succeeding fiscal year.

3. As used in this section:

(a) “Colocated business” has the meaning ascribed to it in NRS 360.754.

(b) “Data center” has the meaning ascribed to it in NRS 360.754.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 361.0683. Partial abatement of taxes imposed on personal property located at new or expanded data center - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-361-0683/

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