Section 231A.Sec. 3 - NEW1. For the purpose of making a qualified low-income community investment, a qualified community development entity or an impact qualified community development entity may: (a) Directly make a capital or equity investment in or issue a loan to a qualified active low-income community business or an impact qualified active low-income community business, as applicable; or(b) Make such an investment or issue such a loan indirectly through one or more special purpose entities.2. A special purpose entity through which a capital or equity investment is made or a loan is issued pursuant to paragraph (b) of subsection 1 may not pay any fees associated with the qualified low-income community investment.3. For the purposes of this section, "special purpose entity" means an entity created solely for the purpose of making or otherwise facilitating a qualified low-income community investment in a qualified active low-income community business or an impact qualified active low-income community business.Nev. Admin. Code § 231A.Sec. 3
Added to NAC by Dep't of Business & Industry by R036-23A, eff. 4/19/2024