AB528

Existing law requires the Director of the Office of Energy to grant a partial abatement of certain property taxes for a building or other structure that meets certain energy efficiency standards under the Green Building Rating System adopted by the Director. However, existing law prohibits the Director from: (1) approving applications for the partial tax abatement submitted on or after July 1, 2021; and (2) altering or amending the Green Building Rating System after that date. (NRS 701A.100, 701A.110) Section 2 of this bill removes the prohibition on the Director approving applications on or after July 1, 2021, thereby allowing the Director to begin approving applications for the partial abatement again. Section 2 revises the amount and duration of the partial abatement available to buildings and other structures meeting certain requirements to provide: (1) a partial abatement of 20-35 percent annually for a duration of not more than 10 years for a building or other structure that is new; (2) a partial abatement of 20-35 percent annually for a duration of not more than 5 years for an existing building or other structure which did not receive a partial abatement before July 1, 2021; and (3) a partial abatement of 5 percent annually for a duration of not more than 3 years for an existing building or structure that previously received a partial abatement before July 1, 2021, and which is recertified under the Green Building Rating System. Existing law requires the Green Building