Nevada § 218D.350 - Requirements for certain legislative measures enacting tax exemptions subject to Section 6 of Article 10 of the Nevada Constitution

§ 218D.350. Requirements for certain legislative measures enacting tax exemptions subject to Section 6 of Article 10 of the Nevada Constitution

In accordance with Section 6 of Article 10 of the Constitution of the State of Nevada : 1. The Legislature shall not enact an exemption from any ad valorem tax on property

or excise tax on the sale, storage, use or consumption of tangible personal property

sold at retail unless the Legislature finds that the exemption: (a) Will achieve a bona fide social or economic purpose and the benefits of the exemption

are expected to exceed any adverse effect of the exemption on the provision of services

to the public by the State or a local government that would otherwise receive revenue

from the tax from which the exemption would be granted; and (b) Will not impair adversely the ability of the State or a local government to pay,

when due, all interest and principal on any outstanding bonds or any other obligations

for which revenue from the tax from which the exemption would be granted was pledged. 2. In enacting an exemption from any ad valorem tax on property or excise tax on the

sale, storage, use or consumption of tangible personal property sold at retail, the

Legislature shall ensure that the requirements for claiming the exemption are as similar

as practicable for similar classes of taxpayers.