Nevada Governor Signs Bill to Increase QEIs in New Markets Jobs Act

Wednesday, June 19, 2019 - 10:15am

Legislation to increase the amount of qualified equity investments (QEI) allowed by Nevada’s New Markets Jobs Act was signed by Gov. Steve Sisolak and is now law. A.B. 446 adds $200 million in QEIs after July 2–while the previously authorized $200 million is available before that date. The bill stipulates that any QEI made after July 1, 2019, can’t be used for a credit until July 1, 2021. A.B. 446 also increases the amount eligible for a single QEI from $5 million to $8 million and allows two community development entities to jointly make investments.