118B.0113 - “Capital improvement” defined. - Nevada Statutes

118B.0113  “Capital improvement” defined.  “Capital improvement” means an addition or betterment made to a manufactured home park that:

      1.  Consists of more than the repair or replacement of an existing facility;

      2.  Is required by law to be amortized over its useful life for the purposes of income tax; and

      3.  Has a useful life of 5 years or more.

      (Added to NRS by 1995, 2752; A 2001, 1170)