Provides for taxes on the sale or transfer of a controlling interest in an entity which possesses an interest in real property. (BDR 32-687)

REQUIRES TWO-THIRDS MAJORITY VOTE
(§§ 7, 8)
(Reprinted with amendments adopted on April 21, 2025)
FIRST REPRINT A.B. 362

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ASSEMBLY BILL NO. 362–ASSEMBLYMEMBER CONSIDINE

MARCH 4, 2025
____________

Referred to Committee on Revenue

SUMMARY—Provides for taxes on the sale or transfer of a
controlling interest in an entity which possesses an
interest in real property. (BDR 32-687)

FISCAL NOTE: Effect on Local Government: May have Fiscal Impact.
Effect on the State: Yes.

~

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

AN ACT relating to taxation; providing for the imposition,
collection, administration and enforcement of taxes on the
sale or transfer of a controlling interest in an entity which
possesses an interest in real property in this State;
providing penalties; and providing other matters properly
relating thereto.
Legislative Counsel’s Digest:
Existing law imposes several taxes, known as real property transfer taxes, on 1
each deed by which lands, tenements or other r ealty are assigned, transferred or 2
otherwise conveyed to, or vested in, another person, or land sale installment 3
contract, if the consideration or value of the interest or property conveyed exceeds 4
$100. The amount of the real property transfer taxes owed is required to be 5
computed on the basis of the value of the transferred real property. (NRS 375.020, 6
375.023, 375.026) Existing law provides for the disposition and use of the proceeds 7
of the real property transfer taxes for specific purposes, including: (1) deposit in the 8
State General Fund; (2) deposit in the Account for Affordable Housing; (3) deposit 9
in the Local Government Tax Distribution Account for credit to the accounts of 10
each county; (4) deposit in the county school district’s fund for capital pr ojects, 11
with respect to proceeds collected in a county whose population is 700,000 or 12
more; and (5) transmittal to the State Treasurer for use by the Division of Plant 13
Health and Compliance of the State Department of Agriculture. (NRS 375.023, 14
375.026, 375.070) 15
Section 8 of this bill imposes taxes on the sale or transfer of a controlling 16
interest in an entity which possesses, directly or indirectly, an interest in real 17
property in this State when the value of the real property interest exceeds $100. 18
Section 8 imposes the taxes at the same rate as the existing real property transfer 19
taxes and requires the taxes to be computed based on the value of the entity’s 20

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interest in the real property, which corresponds to the estimated fair market value of 21
the real pro perty. Section 9 of this bill requires the person who receives a 22
controlling interest in an entity which is subject to the tax to file a return and remit 23
the tax to the county recorder of each county in which the entity has a controlling 24
interest in real p roperty on or before the last day of the month immediately 25
following the month in which the sale or transfer was made. Section 11 of this bill 26
requires the county recorder to dispose of the proceeds of the tax in the same 27
manner as the corresponding real property transfer taxes. Sections 11 and 25.5 28
authorize the county recorder to deduct and withhold from the tax required to be 29
transmitted to the State Controller for deposit in the State General Fund: (1) for the 30
first 5 years after the effective date of this bill, 2 percent of those taxes to reimburse 31
the county for the cost of collecting the tax; and (2) for each year thereafter, 1 32
percent of those taxes. Section 12 of this bill exempts certain transfers of the 33
controlling interest in an entity from the taxes imposed by section 8. Section 23 of 34
this bill makes it a misdemeanor to willfully falsely declare the estimated fair 35
market value of real property on a return filed pursuant to section 9 and requires the 36
payment of any additional tax required plus a penalty of 25 percent of that amount. 37
Sections 2.5, 3 and 4 of this bill define the terms “controlling interest,” 38
“estimated fair market value” and “taxpayer,” respectively, for the purposes of the 39
provisions governing the taxes imposed by section 8. 40
Section 25 of this bill requires money from the taxes imposed by section 8 41
which is received by the Division of Plant Health and Compliance to be allocated 42
for disbursement to each county in proportion to the money collected with respect 43
to real property in t hat county: (1) for use by the State Department of Agriculture 44
for programs on the exclusion, detection and control of invasive species and 45
endemic pests and weeds; and (2) to make grants to local governments and 46
nonprofit organizations for the control or management of such species, pests 47
and weeds. 48
Sections 5-5.7, 10.5, and 24.1 -24.18 of this bill provide for the administration 49
and enforcement of the taxes imposed by section 8 in, to the extent applicable, the 50
same manner as the real property transfer taxes. 51

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Section 1. Title 32 of NRS is hereby amended by adding 1
thereto a new chapter to consist of the provisions set forth as 2
sections 2 to 24.18, inclusive, of this act. 3
Sec. 2. As used in this chapter, unless the context otherwise 4
requires, the words and terms defined in sections 2.5, 3 and 4 of 5
this act have the meanings ascribed to them in those sections. 6
Sec. 2.5. “Controlling interest” means: 7
1. With respect to a corporation, owning, controlling or 8
holding more than 50 percent of: 9
(a) The total combined voting power of all classes of stock of 10
the corporation; or 11
(b) The capital, profits or beneficial interest in the voting stock 12
of the corporation. 13

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2. With respect to any entity other than a corporation, 1
owning, controlling or holding more than 50 percent of the 2
capital, profits or beneficial interest in the entity. 3
Sec. 3. “Estimated fair market value” means the estimated 4
price the real property would bring on the open market in a sale 5
between a willing buyer and a willing seller. Such price must be 6
derived from the assessor’s taxable value or the prior purchasing 7
price, if the prior purchase was within the 5 years immediately 8
preceding the date of valuation, whichever is higher. 9
Sec. 4. “Taxpayer” means any person liable for a tax 10
imposed by this chapter. 11
Sec. 5. The Department may prescribe such regulations as it 12
may deem necessary to carry out the purposes of this chapter. 13
Sec. 5.3. With regard to the administration of any tax 14
imposed by this chapter, the county recorder shall apply the 15
principles set forth in NRS 375.018. 16
Sec. 5.5. 1. A county recorder who has any question of law 17
regarding the imposition or collection of any tax imposed by this 18
chapter shall request an opinion from the district attorney 19
pursuant to NRS 252.160. The district attorney shall request an 20
opinion from the Attorney General pursuant to NRS 228.150 if: 21
(a) The county recorder informs the district attorney that there 22
is a conflict between the opinions of two or more district attorneys 23
in this State on the question; or 24
(b) The district attorney: 25
(1) Chooses not to render an opinion on the question; or 26
(2) Determines that he or she will not be able to render an 27
opinion on the question within a reasonable time. 28
2. If, according to an opinion issued by the Attorney General 29
in response to a request submitted pursuant to subsection 1, the 30
amount of any taxes received by a county recorder differs from the 31
amount required by law, the county recorder shall cause the notice 32
required by section 24.13 of this act to be given to the taxpayer. 33
Sec. 5.7. 1. The Department shall, to ensure that the tax 34
imposed by subsection 2 of section 8 of this act is collected fairly 35
and equitably in all counties, coordinate the collection and 36
administration of that tax. For this purpose, the Department may 37
conduct such audits of the records of the various counties as are 38
necessary to carry out the provisions of this chapter with respect to 39
subsection 2 of section 8 of this act. 40
2. When requested, the Department shall render assistance to 41
the county recorder of a county whose population is less than 42
30,000 relating to the imposition and collection of the tax im posed 43
by subsection 2 of section 8 of this act. 44

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3. The Department is not entitled to receive any fee for 1
rendering any assistance pursuant to subsection 2. 2
Sec. 6. (Deleted by amendment.) 3
Sec. 7. (Deleted by amendment.) 4
Sec. 8. 1. There is hereby imposed a tax on the sale or 5
transfer of a controlling interest in any entity which possesses, 6
directly or indirectly, an interest in real property in this State when 7
the value of the interest in real property exceeds $100, at the rate 8
of: 9
(a) If the real property is located in a county whose population 10
is 700,000 or more, $1.25; and 11
(b) If the real property is located in a county whose population 12
is less than 700,000, 65 cents, 13
 for each $500 of value, or fraction thereof, of the interest in 14
real property possessed, directly or indirectly, by the entity. 15
2. In addition to all other taxes imposed pursuant to this 16
section, there is hereby imposed a tax on the sale or transfer of a 17
controlling interest in any entity which possesses, directly or 18
indirectly, an interest in real property in this State when the value 19
of the interest in real property exceeds $100, at the rate of $1.30 20
for each $500 of value, or fraction thereof, of the interest in real 21
property possessed, directly or indirectly, by the entity. 22
3. In addition to all other taxes imposed pursuant to this 23
section, there is hereby imposed a tax on the sale or transfer of a 24
controlling interest in any entity which possesses, directly or 25
indirectly, an interest in real property which is located in a county 26
whose board of county commissioners has imposed a tax pursuant 27
to NRS 375.026 when the value of the interest in real property 28
exceeds $100, at the rate which is an amount of cents per $500 of 29
value, or fraction thereof, of the interest in real property 30
possessed, directly or indirectly, by the entity that is equal to the 31
amount of cents per $500 of value, or fraction thereof, im posed by 32
the board of county commissioners of the county as the rate for 33
the tax pursuant to NRS 375.026. 34
4. For the purposes of this section, an entity only possess an 35
interest in real property if the entity possesses, directly or 36
indirectly, more than 50 percent of the total ownership interest in 37
the real property. The value of an entity’s interest in real property 38
is the estimated fair market value of the real property. 39
5. A taxable sale or transfer of a controlling interest in an 40
entity includes a single transaction or a series of related 41
transactions. It is presumed that transactions which occur within 42
24 months of each other are a series of related transactions. 43
6. A taxable sale or transfer of a controlling interest in an 44
entity includes a sale or transfer made by one seller or transferor 45

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or a sale or transfer made by a group of sellers or transferors 1
acting in concert. It is presumed that sellers or transferors are 2
acting in concert if the sellers or transferors are: 3
(a) Persons who are related to each other by blood or marriage 4
within the fourth degree of consanguinity; or 5
(b) Entities which are under common control. 6
Sec. 9. 1. On or before the last day of the month 7
immediately following the month in which the sale or transfer of a 8
controlling interest in an entity which is subject to any of the taxes 9
imposed by section 8 of this act occurs, the person receiving the 10
interest shall file with the county recorder of each county in which 11
the entity has an interest in real property a return and remit to the 12
county recorder any tax due pursuant to section 8 of this act. The 13
return must separately: 14
(a) Identify each parcel of real property in the county in which 15
the entity possesses, directly or indirectly, an interest; 16
(b) State the estimated fair market value of each parcel of real 17
property in the county in which the entity possesses, directly or 18
indirectly, an interest; and 19
(c) State the amount of tax remitted with respect to each suc h 20
parcel. 21
2. Unless filed electronically, returns must be signed by the 22
person required to file the return or by his or her authorized agent 23
but need not be verified by oath. 24
Sec. 10. (Deleted by amendment.) 25
Sec. 10.5. If, after acceptance of the return filed pursuant to 26
section 9 of this act, the county recorder disallows an exemption 27
that was claimed at the time the return was filed or through audit 28
or otherwise determines that a n additional amount of tax is due, 29
the county recorder shall promptly notify the person who filed the 30
return of the additional amount of tax due. If the additional 31
amount of tax is not paid within 30 days after the date the person 32
is notified, the county r ecorder shall impose a penalty of 10 33
percent of the additional amount due in addition to interest at a 34
rate of 1 percent per month, or a portion thereof, of the additional 35
amount due calculated from the date the return was filed through 36
the date on which t he additional amount due, penalty and interest 37
are paid to the county recorder. 38
Sec. 11. 1. The county recorder shall transmit the proceeds 39
of the tax imposed by section 8 of this act at the end of each 40
quarter in the following manner: 41
(a) An amount equal to that portion of the proceeds which is 42
equivalent to 10 cents for each $500 of value or fraction thereof in 43
the Account for Affordable Housing created pursuant to 44
NRS 319.500. 45

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(b) In a county whose population is 7 00,000 or more, an 1
amount equal to that portion of the proceeds which is equivalent 2
to 60 cents for each $500 of value or fraction thereof must be 3
transmitted to the county treasurer for deposit in the county school 4
district’s fund for capital projects est ablished pursuant to NRS 5
387.328, to be held and expended in the same manner as other 6
money deposited in that fund. 7
(c) In a county whose population is less than 700,000, an 8
amount equal to that portion of the proceeds which is derived from 9
the tax impose d by subsection 3 of section 8 of this act must be 10
transmitted to the State Treasurer for use as required by 11
NRS 561.355. 12
(d) An amount equal to that portion of the proceeds which is 13
equivalent to $1.30 for each $500 of value or fraction thereof must 14
be transmitted to the State Controller for deposit in the State 15
General Fund. 16
(e) The remaining proceeds must be transmitted to the State 17
Controller for deposit in the Local Government Tax Distribution 18
Account created by NRS 360.660 for credit to the respect ive 19
accounts of Carson City and each county. 20
2. From the tax es required to be transmitted to the State 21
Controller pursuant to paragraph (d) of subsection 1, t he county 22
recorder of each county may deduct and withhold 2 percent of 23
those taxes to reimburse the county for the cost of collecting the 24
tax. 25
3. In addition to any other authorized use of the proceeds it 26
receives pursuant to subsection 1, a county or city may use the 27
proceeds to pay expenses related to or incurred for the 28
development of tier one affordable housing and tier two affordable 29
housing. A county or city that uses the proceeds in that manner 30
must give priority to the development of tier one affordable 31
housing and tier two affordable housing for persons who are 32
elderly or persons with disabilities. 33
4. The expenses authorized by subsection 3 include, without 34
limitation: 35
(a) The costs to acquire land and development rights; 36
(b) Related predevelopment expenses; 37
(c) The costs to develop the land, including the payment of 38
related rebates; 39
(d) Contributions toward down payments made for the 40
purchase of affordable housing; and 41
(e) The creation of related trust funds. 42
5. As used in this section: 43
(a) “Tier one affordable housing” has the meaning ascribed to 44
it in NRS 278.01902. 45

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(b) “Tier two affordable housing” has the meaning ascribed to 1
it in NRS 278.01906. 2
Sec. 12. The taxes imposed by section 8 of this act do not 3
apply to a transfer of the controlling interest in an entity: 4
1. To the United States, any territory or state or any agency, 5
department, instrumentality or political subdivision thereof. 6
2. Between former spouses in compliance with a decree of 7
divorce. 8
3. To or from a trust without consideration. 9
4. Which possesses, directly or indirec tly, an interest in an 10
unpatented mine or mining claim, with respect to the unpatented 11
mine or mining claim. The taxes imposed by section 8 of this act 12
remain applicable with respect to other real property which the 13
entity possess. 14
5. To a corporation or other business organization if the 15
person making the transfer owns 100 percent of the corporation or 16
organization to which the transfer is made. 17
Sec. 13. (Deleted by amendment.) 18
Sec. 14. (Deleted by amendment.) 19
Sec. 15. (Deleted by amendment.) 20
Sec. 16. (Deleted by amendment.) 21
Sec. 17. (Deleted by amendment.) 22
Sec. 18. (Deleted by amendment.) 23
Sec. 19. (Deleted by amendment.) 24
Sec. 20. (Deleted by amendment.) 25
Sec. 21. (Deleted by amendment.) 26
Sec. 22. (Deleted by amendment.) 27
Sec. 23. Any person who willfully falsely declares the 28
estimated fair market value of real property on a return filed 29
pursuant to section 9 of this act is guilty o f a misdemeanor and 30
shall pay the amount of any additional tax required on account of 31
the falsification and a penalty which is equal to 25 percent of that 32
amount. 33
Sec. 24. (Deleted by amendment.) 34
Sec. 24.1. The county recorder shall: 35
1. Conduct and apply audits and other procedures for 36
enforcement as uniformly as is feasible. 37
2. Collect any tax that is due pursuant to the provisions of 38
this chapter in an equitable m anner so that every taxpayer pays 39
the full amount imposed by law. 40
Sec. 24.2. 1. The county recorder may audit all records 41
relating to the collection and calculation of any tax imposed by 42
this chapter. If the county recor der deems it necessary to conduct 43
an audit, the audit must be completed within 3 years after the date 44
the relevant return was filed. 45

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2. The county recorder may issue subpoenas to require the 1
production of documents necessary to determine the amount of the 2
tax due pursuant to this chapter or to determine whether a person 3
qualifies for an exemption from taxes pursuant to this chapter. 4
The county recorder may have the subpoenas served, and upon 5
application of the district attorney, to any court of competent 6
jurisdiction, enforced in the manner provided by law for the 7
service and enforcement of subpoenas in a civil action. 8
Sec. 24.3. 1. If an audit is conducted by the county 9
recorder pursuant to the provisions of this chapte r, the date on 10
which the audit will be completed must be included in the notice to 11
the taxpayer that the audit will be conducted. 12
2. The date on which the audit will be completed may be 13
extended by the county recorder if the county recorder gives prior 14
written notice of the extension to the taxpayer. The notice must 15
include an explanation of the reason or reasons that the extension 16
is required. 17
3. If, after the audit, the county recorder determines that 18
delinquent taxes are due, interest and penalties may not be 19
imposed for the period of the extension if the taxpayer did not 20
request the extension or was not otherwise the cause of the 21
extension. 22
Sec. 24.4. Any amount determined to be refundable by the 23
county recorder after an audit must be refunded to the taxpayer. 24
Sec. 24.5. 1. If any tax imposed pursuant to this chapter is 25
not paid when due, the county may, within 4 years after the date 26
that the tax was due, record a certificate in the office of the county 27
recorder which states: 28
(a) The amount of the tax and any interest or penalties due; 29
(b) The name and address of the person who is liable for the 30
amount due as they appear on the records of the county; and 31
(c) That the county rec order has complied with all procedures 32
required by law for determining the amount due. 33
2. From the time of the recording of the certificate, the 34
amount due, including interest and penalties, constitutes a 35
demand for payment. 36
Sec. 24.6. 1. If a person is delinquent in the payment of any 37
tax imposed by this chapter or has not paid the amount of a 38
deficiency determination, the county may bring an action in a 39
court of this State, a court of a county of any other state or a court 40
of the United States that has competent jurisdiction to collect the 41
delinquent or deficient amount, penalties and interest. The action: 42
(a) May not be brought if the decision that the payment is 43
delinquent or that there is a deficiency determination is on appeal 44
to a hearing officer pursuant to section 24.17 of this act. 45

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(b) Must be brought not later than 4 years after the payment 1
became delinquent or the determination became final. 2
2. The district attorney shall prosecute the action. The 3
provisions of the Nevada Revised Statutes, Nevada Rules of Civil 4
Procedure and Nevada Rules of Appellate Procedure relating to 5
service of summons, pleadings, proofs, trials and appeals are 6
applicable to the proceedings. In the action, a writ of attachment 7
may issu e. A bond or affidavit is not required before an 8
attachment may be issued. 9
3. In an action, a certificate by the county recorder showing 10
the delinquency is prima facie evidence of: 11
(a) The determination of the tax or the amount of the tax; 12
(b) The delinquency of the amounts; and 13
(c) The compliance by the county recorder with all the 14
procedures required by law relating to the computation and 15
determination of the amounts. 16
Sec. 24.7. In an action relating to a tax imposed pursuant to 17
this chapter, process must be served: 18
1. In accordance with the requirements for service of process 19
set forth in the Nevada Rules of Civil Procedure; or 20
2. By serving the taxpayer at their place of residence in this 21
State or their last known address. 22
Sec. 24.8. A lien may, within 5 years after the date of the 23
judgment or within 5 years after the last extension of the lien in a 24
manner provided in this chapter, be extended by recording in the 25
office of the county recorder a certified copy of the judgment, and 26
from the time of that recording, the lien must be extended upon 27
the property in that county for 5 years unless sooner released or 28
otherwise discharged. 29
Sec. 24.9. 1. The county or its authorized representative 30
may issue a warrant for the enforcement of a lien and for the 31
collection of any delinquent tax that is administered pursuant to 32
this chapter: 33
(a) Within 4 years after the person is delinquent in the 34
payment of the tax; or 35
(b) Within 5 years after the last recording of a certificate copy 36
constituting a lien for the tax. 37
2. The warrant must be directed to a sheriff or constable and 38
has the same effect as a writ of execution. 39
3. The warrant must be levied and the sale made pursuant to 40
the warrant in the same manner and with the same effect as a levy 41
of and a sale pursuant to a writ of execution. 42
Sec. 24.10. The county may pay or advance to the sheriff or 43
constable the same fees, commissions and expenses or acting upon 44
the warrant as are provided by law for acting upon a writ of 45

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execution. The county must approve the fees for publication in a 1
newspaper. Approval from a court is not required for the 2
publication. 3
Sec. 24.11. 1. The amounts, including interest and 4
penalties, required to be paid by any person pursuant to this 5
chapter must be satisfied first if: 6
(a) The person is insolvent; 7
(b) The person makes a voluntary assignment of his o r her 8
assets; 9
(c) The estate of the person in the hands of executors, 10
administrators or heirs, before distribution, is insufficient to pay 11
all the debts due from the deceased; or 12
(d) The estate and effects of an absconding, concealed or 13
absent person required to pay any amount by force of such 14
revenue act are levied upon by process of law. 15
2. This section does not give the county recorder a preference 16
over: 17
(a) Any recorded lien that attached before the date when the 18
amounts required to be paid became a lien; or 19
(b) Any costs of administration, funeral expenses, expenses of 20
personal illness, family allowances or debts preferred pursuant to 21
federal law or wages as provided in NRS 147.195. 22
Sec. 24.12. A certificate b y the county recorder stating that 23
real property has been released from a lien imposed pursuant to 24
this chapter is conclusive evidence that the property has been 25
released. 26
Sec. 24.13. If an officer or employee of the county recorder 27
determines that a taxpayer is entitled to an exemption or has been 28
taxed more than is required by law, he or she shall give written 29
notice of that determination to the taxpayer. The notice must: 30
1. Be given within 30 days after the office r or employee 31
makes his or her determination or, if the determination is made as 32
a result of an audit, within 30 days after the completion of the 33
audit; and 34
2. If appropriate, include instructions indicating the manner 35
in which the taxpayer may petition for a refund of any 36
overpayment. 37
Sec. 24.14. A taxpayer is entitled to receive on any 38
overpayment of any tax imposed by this chapter a refund together 39
with interest at a rate determined pursuant to NRS 17.130. No 40
interest is allowed on a refund of any penalties or interest on the 41
tax that is paid by a taxpayer. 42
Sec. 24.15. The county recorder shall provide a taxpayer 43
with a response to any written request submitted by the taxpayer 44

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that relates to a tax imposed by this chapter within 30 days after 1
the county treasurer receives the request. 2
Sec. 24.16. 1. After reviewing a petition for a refund, the 3
county recorder or his or her designee shall approve or disapprove 4
the refund. If the county recorder approves the refund, he or she 5
shall grant the refund to the taxpayer. 6
2. If the county recorder denies a refund, the petitioner may 7
file a written notice of appeal to the county recorder within 45 8
days after the date the county recorder decides to deny the petition. 9
If notice is not received by the county recorder within 45 days after 10
his or her decision to deny the petition, the decision of the county 11
recorder is final. 12
3. If the county recorder receives a timely notice of appeal 13
pursuant to subsection 2, he or she shall set a date for a hearing 14
before a hearing officer and notify the parties of the date, place 15
and time of the hearing. 16
Sec. 24.17. 1. Any person who is aggrieved by a decision of 17
the county recorder made pursuant to this chapter may appeal the 18
decision by filing a notice of appeal with the county recorder 19
within 30 days after service of the decision upon that person. 20
2. A hearing officer, appointed by the county, may review any 21
decision made by the county recorder and may reverse, affirm or 22
modify any decision of the county recorder. A hearing officer 23
appointed pursuant to this section must not be an employee of the 24
county recorder’s office. A decision of a hearing officer is a final 25
decision for purposes of judicial review. 26
3. Service of a decision made by the county recorder or a 27
hearing officer pursuant to this chapter must be made personally 28
or by certified mail. If service is made by certified mail: 29
(a) The decision must be enclosed in an envelope that is 30
addressed to the taxpayer at his or her address as it appears on the 31
declaration of value or in the records of the county. 32
(b) It is deemed to be complete at the time the appropriately 33
addressed enve lope containing the decision is deposited with the 34
United States Postal Service. 35
4. All decisions of the county recorder made pursuant to this 36
chapter are final unless appealed. 37
5. A county recorder or local government that is a party and 38
is aggrieved by the decision of the hearing officer may seek 39
judicial review of the decision in the district court of that county. 40
Sec. 24.18. 1. The county recorder may waive any tax, 41
penalty and interest owed by the taxpayer pursuant to this chapter, 42
other than the tax imposed by subsection 2 of section 8, if the 43
taxpayer meets the criteria adopted by regulation. If a waiver is 44

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granted pursuant to this subsection, the county shall prepare and 1
maintain on file a statement that contains: 2
(a) The reason for the waiver; 3
(b) The amount of the tax, penalty and interest owed by the 4
taxpayer; and 5
(c) The amount of the tax, penalty and interest waive d by the 6
county. 7
2. If the county recorder or a designated hearing officer finds 8
that the failure of a person to make a timely payment of any tax 9
imposed is the result of circumstances beyond his or her control 10
and occurred despite the exercise of ordina ry care and without 11
intent to avoid such payment, the county recorder may relieve the 12
person of all or part of any interest or penalty or both. 13
3. If a person proves to the satisfaction of the county recorder 14
that the person has in good faith remitted th e tax in reliance upon 15
written advice provided by an officer or employee of the county 16
recorder, an opinion of the district attorney or Attorney General or 17
the written results of an audit of the taxpayer’s records conducted 18
by the county recorder, the coun ty recorder may not require the 19
taxpayer to pay delinquent taxes, penalties or interest if the county 20
recorder determines after the completion of a subsequent audit 21
that the taxes the taxpayer remitted were deficient. 22
Sec. 25. NRS 561.355 is hereby amended to read as follows: 23
561.355 1. The following fees and money must be used by 24
the Division of Plant Health and Compliance of the Department 25
only for the purposes of carrying out the provisions of this chapter 26
and chapters 552, 554, 555 and 587 of NRS: 27
(a) Except as otherwise provided in NRS 552.095 and 555.570, 28
fees and money collected pursuant to the provisions of chapters 552, 29
555 and 587 of NRS. 30
(b) Laboratory fees collected for the diagnosis of infectious, 31
contagious and parasitic diseases of bees, as authorized by NRS 32
561.305, and as are necessary pursuant to the provisions of chapter 33
552 of NRS. 34
(c) Laboratory fees collected for the diagnosis of infectious, 35
contagious and destructive diseases of agricultural commodities, and 36
infestations thereof by pests, as authorized by NRS 561.305, and as 37
may be necessary pursuant to the provisions of chapter 554 of NRS. 38
(d) Laboratory fees collected for the survey and identification of 39
insect pests, plant diseases and noxious w eeds, as authorized by 40
NRS 561.305, and as may be necessary pursuant to the provisions of 41
NRS 555.005 to 555.249, inclusive. 42
(e) Laboratory fees collected for the testing of the purity and 43
germinating power of agricultural seeds, as authorized by 44

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NRS 561.305, and as may be necessary pursuant to the provisions of 1
NRS 587.015 to 587.123, inclusive. 2
(f) Money received from a tax on the transfer of real property 3
imposed pursuant to NRS 375.026. 4
(g) Money received from a tax on the sale or transfer of a 5
controlling interest in an entity which possesses an interest in real 6
property imposed pursuant to section 8 of this act. 7
2. The money received pursuant to paragraph (f) or (g) of 8
subsection 1 mu st be allocated for disbursement to each county in 9
proportion to the amount of money collected with respect to real 10
property in that county and must only be used: 11
(a) By the Department for programs on the exclusion, detection 12
and control of: 13
(1) Invasive species; and 14
(2) Endemic pests and weeds designated by the Director; and 15
(b) For grants to local governments and nonprofit organizations 16
for the control or management of such species, pests and weeds. 17
3. As used in this section: 18
(a) “Invasive species” means any living organism not native to 19
this State that may present a threat to the economy, environment or 20
public health of this State. 21
(b) “Local government” has the meaning ascribed to it in 22
NRS 237.050. 23
Sec. 25.5. Section 11 of this act is hereby amended to read as 24
follows: 25
Sec. 11. 1. The county recorder shall transmit the 26
proceeds of the tax imposed by section 8 of this act at the end 27
of each quarter in the following manner: 28
(a) An amount equal to that portion of the proceeds which 29
is equivalent to 10 cents for each $500 of value or fraction 30
thereof in the Account for Affordable Housing created 31
pursuant to NRS 319.500. 32
(b) In a county whose population is 700,000 or more, an 33
amount equal to that portion of th e proceeds which is 34
equivalent to 60 cents for each $500 of value or fraction 35
thereof must be transmitted to the county treasurer for deposit 36
in the county school district’s fund for capital projects 37
established pursuant to NRS 387.328, to be held and 38
expended in the same manner as other money deposited in 39
that fund. 40
(c) In a county whose population is less than 700,000, an 41
amount equal to that portion of the proceeds which is derived 42
from the tax imposed by subsection 3 of section 8 of this act 43
must be transmitted to the State Treasurer for use as required 44
by NRS 561.355. 45

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(d) An amount equal to that portion of the proceeds which 1
is equivalent to $1.30 for each $500 of value or fraction 2
thereof must be transmitted to the State Controller for deposit 3
in the State General Fund. 4
(e) The remaining proceeds must be transmitted to the 5
State Controller for deposit in the Local Government Tax 6
Distribution Account created by NRS 360.660 for credit to 7
the respective accounts of Carson City and each county. 8
2. From the taxes required to be transmitted to the State 9
Controller pursuant to paragraph (d) of subsection 1, t he 10
county recorder of each county may deduct and withhold 1 11
percent of those taxes to reimburse the county for the cost of 12
collecting the tax. 13
3. In addition to any other authorized use of the proceeds 14
it receives pursuant to subsection 1, a county or city may use 15
the proceeds to pay expenses related to or incurred for the 16
development of tier one affordable housing and tier two 17
affordable housing. A county or city that uses the proceeds in 18
that manner must give priority to the development of tier one 19
affordable housing and tier two affordable housing for 20
persons who are elderly or persons with disabilities. 21
4. The expenses authorized by subsection 3 include, 22
without limitation: 23
(a) The costs to acquire land and development rights; 24
(b) Related predevelopment expenses; 25
(c) The costs to develop the land, including the payment 26
of related rebates; 27
(d) Contributions toward down payments made for the 28
purchase of affordable housing; and 29
(e) The creation of related trust funds. 30
5. As used in this section: 31
(a) “Tier one affordable housing” has the meaning 32
ascribed to it in NRS 278.01902. 33
(b) “Tier two affordable housing” has the meaning 34
ascribed to it in NRS 278.01906. 35
Sec. 26. 1. This section becomes effective upon passage and 36
approval. 37
2. Sections 1 to 25, inclusive, of this act become effective: 38
(a) Upon passage and approval for the purpose of adopting any 39
regulations and performing any other preparatory administrative 40
tasks that are necessary to carry out the provisions of this act; and 41
(b) On October 1, 2025, for all other purposes. 42

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3. Section 25.5 of this act becomes effective on October 1, 1
2030. 2

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