NevadaSB26983rd Regular Session (2025)SenateWALLET

AN ACT relating to taxation; establishing a credit against the modified business tax for taxpayers who donate money to the Graduate Medical Education Grant Program established and administered by the Office of Science, Innovation and Technology within the Office of the Governor; and providing other matters properly relating thereto.

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BDR 32-578

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Business tax credit for medical education donations

Beginning July 1, 2025, businesses owing Nevada modified business tax can get credit for Graduate Medical Education Grant Program donations. The credit covers both business tax systems and cannot exceed the approved amount or the money donated. Businesses must apply to the Office of Science, Innovation and Technology before donating. The office reviews applications in order received and must decide within 20 days. Businesses must donate within 30 days of the approval notice or lose the credit. After donation, the office issues a credit certificate and notifies the Department of Taxation. Combined credits are capped at $4 million for fiscal year 2025–2026 and $4.12 million for 2026–2027. The cap rises 3% each year afterward; forfeited credits do not count toward it. Credits cannot exceed tax due, and unused donation credits can carry forward until used or the five-year deadline. That deadline falls five years after the donation's calendar year ends. The amended quarterly rules also state a shorter deadline: the fourth calendar quarter after the taxable year ends. For the other-employer tax system, the law sets a 1.475% rate on quarterly wages above $50,000. Existing scholarship donation credits remain available.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. (No further action taken.)

    6/3/2025Senate
  2. Taken from General File. Re-referred to Committee on Finance. Exemption effective. To committee.

    4/15/2025Senate
  3. Read second time.

    4/15/2025Senate
  4. Placed on Second Reading File.

    4/14/2025Senate
  5. From committee: Do pass.

    4/14/2025Senate
  6. Notice of eligibility for exemption.

    3/27/2025Senate
  7. From printer. To committee.

    3/5/2025Senate
  8. Read first time. Referred to Committee on Revenue and Economic Development. To printer.

    3/4/2025Senate

Bill Text

  • As Introduced

Related Bills

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