All Roll Calls
Yes: 56 • No: 7
NevadaSB6983rd Regular Session (2025)Senate
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
6 provisions identified: 0 benefits, 0 costs, 6 mixed.
Cost-sharing deals in project districts
For projects in an economic diversification district, the lead participant must pay toward local services if the local government requires it. Total payments are capped at the lesser of 10% of the project’s partial property and local sales tax abatements, or the amount needed to defray local costs while pledged money is used. Cities can also make payment agreements with property owners in the district, using a fixed yearly amount or a formula. The city (or the county if outside a city) is the lead negotiator; others may join by interlocal agreement, but no one can charge or shift money obligations to the lead. Talks and draft records stay confidential, but approval votes must be in open meetings. Covered services include fire, EMS, law enforcement, emergency management and hazmat, life-safety training, solid waste, roads, stormwater, water, sewer, and other agreed items.
Mega-project thresholds, audits, and costs
Projects can qualify for transferable tax credits and abatements only with very large investments: at least $1 billion within 10 years for one path, or at least $3.5 billion within 10 years for another. The lead must provide a yearly Nevada CPA audit that shows each participant’s investment and Nevada-resident job counts for construction and operations, and must pay the audit cost. Employers must offer health insurance to construction and project employees. The lead must pay upfront for engineering and design to scope needed public infrastructure and may seek reimbursement later from State bond proceeds.
More Nevada hires and proof rules
At least 50% of construction and 50% of on-site jobs must go to Nevada residents. Employers must keep proof in each worker’s file: a current Nevada ID (veterans may use a current Nevada ID), vehicle registration if they own a car, full-time status of 30 hours a week, and proof the worker is offered employer health insurance. The Office may grant a waiver if there are not enough qualified Nevada workers. Waiver requests are posted within 3 days, held open at least 5 days for public comment, and any approval is posted within 3 days.
Local fee breaks, pilot required
Beginning October 1, 2025, cities, counties, and fire districts may cut or waive permitting and licensing fees for participants in qualified projects. Before granting any fee break, they must adopt a pilot program by ordinance or regulation. Each year by October 1, any government that granted abatements must report how many were approved, the dollar amounts, and jobs and wages tied to those projects.
Deadlines to sign and start abatements
If an application includes an abatement, the Office and the lead participant must sign the agreement within 1 year of the application receipt. If they miss this window, no abatement is approved unless a new application is filed. The agreement must state when the property tax abatement starts: no earlier than July 1 of the fiscal year the agreement is signed, and no later than 1 year after Office approval.
Faster reviews, public notice, redactions
The Office must notify local governments within 15 days of receiving an application and hold a public meeting within 60 days of a completed filing, with at least 30 days’ public notice. Locals can designate a representative at least 15 days before the meeting to review the application under an NDA. The Office requests letters from affected entities, which have 30 days to respond and state if a cost-sharing agreement will be required. The Office decides within 30 days after the meeting and, if tax credits are approved, asks the Interim Finance Committee to approve issuance within 30 days. Applications are confidential until the notice is issued; after notice, they are public but trade secrets may be redacted by the Executive Director. Public-records law now points to these confidentiality rules. These changes apply to applications filed on or after October 1, 2025, and some sections expire June 30, 2032 or June 30, 2036.
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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