Section 231A.060 - Notice to Department of qualified low-income community investments1. Not later than 30 days after the date on which a qualified community development entity or impact qualified community development entity makes a qualified low-income community investment, the entity shall notify the Department of the investment.2. Not later than 30 days after the date on which a qualified community development entity or impact qualified community development entity makes a qualified low-income community investment which causes 85 percent or more of the amount of a qualified equity investment or impact qualified equity investment, as applicable, regarding which the qualified community development entity or impact qualified community development entity has certified investment authority to have been invested in qualified low-income community investments in this State, in accordance with the requirements of subsection 3 of NRS 231A.250, as amended by section 19 of Senate Bill No. 240, chapter 517, Statutes of Nevada 2023, at page 3363, as interpreted by the Department pursuant to NAC 231A.100, the qualified community development entity or impact qualified community development entity shall notify the Department that 85 percent or more of the applicable amount of the qualified equity investment or impact qualified equity investment has been invested in qualified low-income community investments in this State.3. A notification made in accordance with this section must include any other information required by the Department.Nev. Admin. Code § 231A.060
Added to NAC by Dep't of Business & Industry by R103-13, eff. 6-23-2014; A by R036-23A, eff. 4/19/2024