Bill Doubling Nevada NMTC Ceiling Heads to Governor’s Desk

Tuesday, June 4, 2019 - 11:45am

A bill to revise Nevada’s New Markets Jobs Act to increase the amount of qualified equity investments (QEI) by $200 million and allow more investment to be eligible for a tax credit passed the state Senate and will now go to Gov. Steve Sisolak’s desk. A.B. 446 increases the amount eligible for the tax credit in a single QEI from $5 million to $8 million, adds $200 million in QEI eligibility after July 2, 2019, and allows two community development entities to jointly make investments. The bill also states that any QEI made after July 1, 2019, can’t be used for a credit until July 1, 2021.