Bill for aircraft maintenance tax breaks
The Ways and Means Committee was told Friday giving aircraft maintenance companies tax breaks would bring them to Nevada, more than offsetting the amount of any abatements.
Director Steve Hill of the Governor’s Office of Economic Development told lawmakers his projections are the abatements would cost the state and local governments some $650,000 a year but generate anywhere from $1.1-$4 million in personal property taxes alone.
“We’ve already had several companies both large and small express immediate interest in relocating and bringing those jobs back to Nevada,” he said.
AB161 sponsor Irene Bustamonte-Adams, D-Las Vegas, said the abatements would bring high wage jobs to the state.
But Hill said since the states surrounding Nevada already give aircraft maintenance companies tax breaks the bill would determine whether these companies would move their maintenance back to Nevada.
“We have eight or ten companies currently waiting for the bill to pass that are in the queue to file applications and hopefully be heard at our July meeting,” he said.
The committee took no action on AB161.