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NV Legislative Panel OKs Green Tax Breaks

CARSON CITY, NV-The tax breaks will go to five projects in Las Vegas whose developers applied for them under 2005 legislation that was made less generous this year.

By Brian K. Miller | Updated on December 09, 2007

CARSON CITY, NV-The Nevada Legislature’s Subcommittee to Review Regulations last week signed off on new state rules on tax breaks for Nevada businesses that build “green” buildings. The upshot is that tax breaks likely will go to five projects in Las Vegas whose developers applied for the break under 2005 legislation and any others constructed under the related 2007 legislation.

Legislators revised the 2005 green construction law in 2007 after discovering that it would result in some $900 million in sales and property tax breaks. The new law reduces the tax breaks by approximately half.

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