NRS701A.380. Termination of partial abatement for noncompliance; opportunity to cure noncompliance; required notices; repayment of taxes after termination. [Effective through June 30, 2049.]

      1.  A partial abatement approved by the Director pursuant to NRS 701A.300 to 701A.390, inclusive, terminates upon any determination by the Director that the facility has ceased to meet any eligibility requirements for the abatement.

      2.  The Director shall provide notice and a reasonable opportunity to cure any noncompliance issues before making a determination that the facility has ceased to meet those requirements.

      3.  The Director shall immediately provide notice of each determination of termination to:

      (a) The Department of Taxation, which shall immediately notify each affected local government of the determination;

      (b) The board of county commissioners;

      (c) The county assessor;

      (d) The county treasurer; and

      (e) The Office of Economic Development.

      4.  A facility whose partial abatement is terminated pursuant to this section shall repay to:

      (a) The county treasurer the amount of the exemption from property taxes imposed pursuant to chapter 361 of NRS; and

      (b) The Department of Taxation the amount of the exemption from local sales and use taxes,

Ê that was allowed pursuant to this section before the date of that termination. Except as otherwise provided in NRS 360.232 and 360.320, the facility shall, in addition to the amount of the exemption required to be paid pursuant to this subsection, pay interest on the amount due at the rate most recently established pursuant to NRS 99.040 for each month, or portion thereof, from the last day of the month following the period for which the payment would have been made had the partial abatement not been approved until the date of payment of the tax.

      (Added to NRS by 2009, 2004; A 2011, 102, 2074, 3482)