October 25, 2014
After months of hassles, new state rules on tax breaks for Nevada businesses that build environmentally friendly buildings quietly won final approval from a legislative panel.
There was no debate as the Legislature's Subcommittee to Review
Regulations signed off on the rules - in contrast to drawn-out discussions during and after the 2007 legislative session.
During the session, legislators revised a 2005 green construction law after learning it would result in more than $900 million in sales and property tax breaks, reducing funding for local government and public schools.
The new law, signed by Gov. Jim Gibbons after he vetoed an earlier proposal to limit the green-building tax cuts, was designed to cut the tax breaks in half.
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