Nevada Senate votes to tighten green energy tax breaks
June 1, 2007
(AP) – The Nevada Senate voted Friday to pass an amended “green” building tax break that lowers 2005 tax breaks so that state and local governments don’t lose too much revenue, but gives exemptions to companies that got early approval for the breaks.
The Republican-controlled Senate voted 20-1 to pass AB621, after killing two proposed amendments to the bill on Thursday. The measure now returns to the Assembly for final legislative action.
One of the amendments, from Sen. Terry Care, D-Las Vegas, proposed dropping the exemptions and forcing all companies to adhere to the new, tighter rules. Senate Minority Leader Dina Titus, D-Las Vegas, pushed an amendment that would have dropped the maximum property tax break to 20 percent. Instead, lawmakers voted to support a version pushed by Sen. Randolph Townsend, R-Reno, that will set three tiers of property tax break ranging up to 35 percent.