“Capital improvement” defined.

NRS 118B.0113 “Capital improvement” defined. “Capital improvement” means an addition or betterment made to a manufactured home park that: 1. Consists of more than the repair or replacement of an existing facility; 2. Is required by law to be amortized over its useful life for the purposes of income tax; and 3. Has a useful life of 5 years or more. (Added to NRS by 1995, 2752; A 2001, 1170)