Environment (Economic Development)

SB 461 allows Nevada's Office of Economic Development to approve partial tax deductions (for property, business, and sales taxes) for businesses planning to locate or expand in designated high-impact sectors, such as clean energy, advanced manufacturing, aerospace, and defense technologies. The bill limits deductions to no more than 60% of annual taxes or 90% combined with other abatements over a 10-year period. It also creates a new Community Infrastructure Grant Program, expands workforce training initiatives, and authorizes tax partial abatements for businesses recycling materials or producing fuels from recycled materials. These changes directly affect qualifying businesses, economic development agencies, and workforce programs across Nevada.