Revises provisions relating to transferable tax credits for affordable housing. (BDR 32-437)

AB 62 revises rules for transferable tax credits that help fund affordable housing projects in Nevada. It shortens the deadline for submitting final credit applications from 45 to 15 days before project completion, allows project sponsors to use long-term ground leases instead of purchasing land, and expands who can receive transferred credits (including project members/partners and subsequent entities). The bill also increases the annual credit cap from $10 million to $13 million (with carryover rules) and raises the lifetime cap from $40 million to $100 million. Additionally, it changes when credits expire - starting from the Division's notification date rather than the credit issuance date. These changes directly affect housing developers and entities buying/selling tax credits.