All Roll Calls
Yes: 56 • No: 7
NevadaSB6983rd Regular Session (2025)SenateWALLET
AN ACT relating to taxation; requiring an applicant for the issuance of transferable tax credits and the partial abatement of certain taxes for a project that is located in an economic diversification district to enter into an agreement with certain local governments to defray the cost of services provided by the local governments under certain circumstances; revising provisions governing applications for the issuance of transferable tax credits and the partial abatement of certain taxes for a project that satisfies certain capital investment and other requirements; authorizing a fire protection district to abate certain fees; and providing other matters properly relating thereto.
Sponsored By: Senate Committee on Revenue and Economic Development
Signed by Governor
BDR 32-369
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 1 benefits, 2 costs, 2 mixed.
Higher bar for mega-project tax incentives
For the large‑project track, applicants must show at least $3.5 billion in new capital investment within 10 years to get transferable tax credits and partial abatements. If the project sits in an economic diversification district and the local government requires it, the lead must sign a payment agreement. Payments are capped at the lesser of 10% of the approved partial property and local sales/use tax abatement or the local service and infrastructure costs during the pledged‑money term. These rules apply to applications filed on or after October 1, 2025 and end June 30, 2036.
Local fee breaks for qualified projects
Cities, counties, and fire protection districts may cut or waive permitting and licensing fees for participants in a qualified project. A city or county must pass an ordinance, and a fire district must adopt a pilot regulation, before granting abatements. Any local government that grants these abatements must file an annual report by October 1 with project, abatement, job, and wage details. These authorities start October 1, 2025. One program ends June 30, 2032 and the parallel program ends June 30, 2036.
Payments to help cover local services
If a project is in an economic diversification district and the local government requires it, the lead participant must sign a payment agreement. Total payments are capped at the lesser of 10% of the approved partial abatement or the amount needed to defray local service and infrastructure costs during the pledged‑money term. A city or county may also make agreements with property owners in the district to pay a set yearly amount or a formula amount to help cover these costs. These provisions start October 1, 2025. The required project‑payment rule ends June 30, 2032; the city‑to‑property‑owner agreement authority ends June 30, 2036.
New transparency and confidentiality for incentive deals
The Office must tell the county, city, and fire district within 15 days when it gets an incentive application. Those bodies can name a representative who signs a nondisclosure agreement to review details before the public meeting. The Office asks affected local entities for a letter and may proceed if none is returned in 30 days; letters must say if a payment agreement will be required and that costs cannot be passed through a special use permit. Applications stay confidential until the Office gives public notice of the application and meeting; after notice, most details are public except trade secrets. Records used to negotiate required payment agreements are confidential, but approval meetings must follow open‑meeting law. The public‑records statute now lists these confidentiality rules. These rules start October 1, 2025; parts tied to one program end June 30, 2032 and others end June 30, 2036.
When these incentive rules take effect
Most changes start October 1, 2025. New rules apply only to applications filed on or after that date. Some sections end June 30, 2032 and others end June 30, 2036. New or revised reports created by this act are exempt from the usual reporting limit in NRS 218D.380(1).
Sponsors & Cosponsors
Sponsor
Senate Committee on Revenue and Economic Development
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 5/23/2025
Final Passage - Assembly (2nd Reprint)
Yes: 39 • No: 3
Senate vote • 4/22/2025
Final Passage - Senate (1st Reprint)
Yes: 17 • No: 4
Actions Timeline
Chapter 334.
6/6/2025legislatureApproved by the Governor.
6/5/2025legislatureEnrolled and delivered to Governor.
6/1/2025legislatureAssembly Amendment No. 693 concurred in. To enrollment.
5/30/2025SenateIn Senate.
5/23/2025SenateRead third time. Passed, as amended. Title approved. (Yeas: 39, Nays: 3.) To Senate.
5/23/2025HouseFrom printer. To reengrossment. Reengrossed. Second reprint.
5/23/2025HouseRead second time. Amended. (Amend. No. 693.) To printer.
5/22/2025HousePlaced on Second Reading File.
5/22/2025HouseFrom committee: Amend, and do pass as amended.
5/22/2025HouseRead first time. Referred to Committee on Revenue. To committee.
4/28/2025HouseIn Assembly.
4/28/2025HouseTo Assembly.
4/28/2025SenateFrom printer. To engrossment. Engrossed. First reprint.
4/25/2025SenateRead third time. Passed, as amended. Title approved, as amended. (Yeas: 17, Nays: 4.) To printer.
4/22/2025SenateReprinting dispensed with.
4/21/2025SenateRead second time. Amended. (Amend. No. 362.)
4/21/2025SenatePlaced on Second Reading File.
4/21/2025SenateFrom committee: Amend, and do pass as amended.
4/21/2025SenateRead first time. To committee.
2/3/2025SenateFrom printer.
11/26/2024SenatePrefiled. Referred to Committee on Revenue and Economic Development. To printer.
11/20/2024Senate
Bill Text
As Enrolled
As Introduced
Reprint 1
Reprint 2
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