231.139 - Certification of businesses for certain benefits: Requirements for certification; allocations from Contingency Fund; fees; regulations. - Nevada Statutes

231.139  Certification of businesses for certain benefits: Requirements for certification; allocations from Contingency Fund; fees; regulations.

      1.  The Commission on Economic Development shall certify a business for the benefits provided pursuant to NRS 704.223 if the Commission finds that:

      (a) The business is consistent with the State Plan for Industrial Development and Diversification and any guidelines adopted pursuant to the Plan;

      (b) The business is engaged in the primary trade of preparing, fabricating, manufacturing or otherwise processing raw material or an intermediate product through a process in which at least 50 percent of the material or product is recycled on-site;

      (c) Establishing the business will require the business to make a capital investment of $50,000,000 in Nevada; and

      (d) The economic benefit to the State of approving the certification exceeds the cost to the State.

      2.  The Commission on Economic Development may:

      (a) Request an allocation from the Contingency Fund pursuant to NRS 353.266, 353.268 and 353.269 to cover the costs incurred by the Commission pursuant to this section and NRS 704.032.

      (b) Impose a reasonable fee for an application for certification pursuant to this section to cover the costs incurred by the Commission in investigating and ruling on the application.

      (c) Adopt such regulations as it deems necessary to carry out the provisions of this section.

      (Added to NRS by 1993, 818; A 1995, 1143; 2001, 1584)