Program would encourage investment in universities
The Assembly Ways and Means Committee was asked Saturday to create a system of tax breaks for businesses willing to invest in university programs.
Assembly Bill 191 by Assemblyman Marcus Conklin and Assemblywoman Marilyn Kirkpatrick, both D-Las Vegas, would provide property and business tax breaks to businesses willing to invest at least $500,000 in programs at University of Nevada, Reno, Desert Research Institute or University of Nevada, Las Vegas or $250,000 in one of Nevada’s community colleges.
Conklin said the maximum abatement would be half of the tax.
“It’s not like the abatements we’ve done in the past,” he said. “Not every business will request an abatement and not every business will qualify for an abatement.”
He also said the idea is not to get businesses to build buildings on campuses.
“We’re looking for things that are programmatic,” he said. “Research or training.”
Kirkpatrick said the business also would have to employ 15 or more employees, have two or more post-graduate students and provide health insurance to qualify.
Assemblywoman Maggie Carlton, D-Las Vegas, said she sees great opportunity to attract medical companies that would be interested in specific research programs.
The committee took no action on the measure.