Budget & Taxes (Procurement)

AB 481 creates the Sustainable Aviation Fuel Incentive Program to provide financial incentives to U.S. domestic air carriers for purchasing sustainable aviation fuel (SAF) in Nevada. The program offers $1.75 per gallon for SAF produced outside Nevada and $2.50 per gallon for SAF produced within Nevada, funded by a $10 million state appropriation. Air carriers must submit claims to the State Treasurer for verification before receiving payments. The program is administered through a new Sustainable Aviation Fuel Incentive Fund established in the state treasury.

AB 62 revises rules for transferable tax credits that help fund affordable housing projects in Nevada. It shortens the deadline for submitting final credit applications from 45 to 15 days before project completion, allows project sponsors to use long-term ground leases instead of purchasing land, and expands who can receive transferred credits (including project members/partners and subsequent entities). The bill also increases the annual credit cap from $10 million to $13 million (with carryover rules) and raises the lifetime cap from $40 million to $100 million. Additionally, it changes when credits expire - starting from the Division's notification date rather than the credit issuance date. These changes directly affect housing developers and entities buying/selling tax credits.

AB 403 proposes that if approved by Nevada voters in 2026, retailers would not charge sales tax on the value of a used portable electronic (like a phone or tablet) traded in for a new one. This exemption would apply only when the trade-in value is clearly stated on the sales receipt and the trade-in occurs during the same transaction as the new purchase. If enacted, the tax exemption would take effect January 1, 2027, and expire December 31, 2050. The bill directly affects consumers purchasing new electronics through trade-ins and retailers handling such transactions.

AB 362 is a proposed Nevada bill that imposes a tax on the sale or transfer of a controlling interest (majority ownership stake) in any entity owning real property in the state, when the property's value exceeds $100. It applies to buyers of such entity stakes (e.g., purchasing majority shares in a company that owns land), taxing them at rates similar to existing real property transfer taxes ($1.25 per $500 of value in high-population counties, $0.65 in others). The tax must be filed and paid by the buyer to county recorders within a month of the transfer, with proceeds distributed identically to current real property tax funds (e.g., to local governments, affordable housing, or state agricultural programs). The bill defines key terms like "controlling interest" and includes penalties for falsely reporting property value, but remains pending in committee as of April 2025.