2021 Legislature Sets Stage for Nevada’s Economic Recovery
June 11, 2021
CARSON CITY, Nev. – Michael Brown, Nevada Governor’s Office of Economic Development Executive Director, today thanked the 2021 Legislature for its work to enhance the State’s economic development and recovery plan.
“We spent a considerable amount of time leading up to the legislative session during the pandemic working with SRI International and Brookings Mountain West at UNLV to develop an economic development and recovery plan,” Brown said. “We presented this plan to the legislature and I’m both grateful and pleased that their actions during the 120-day session resulted in an important endorsement of the direction Governor Steve Sisolak is leading our economic development and recovery efforts.”
Some of the critical bills the 2021 Legislature passed and signed by Governor Sisolak include:
AB20 revises provisions relating to transferable tax credits for film and other productions. The legislation also more clearly defines both qualified and excluded productions and gives the Nevada Film Office more flexibility and authority in applications for transferable tax credits. Movies and television shows are important in the promotion of the State.
AB66 revises provisions relating to the abatement of certain taxes. This bill prohibits companies from receiving an abatement past one year after entering into an agreement. If the applicant fails to enter into an agreement within one year after the application is received, the applicant is required to submit a new application.
AB69 revises provisions governing economic development. The definition of motion pictures is broadened to include feature films, programs made for broadcast or other electronic transmission, commercials, and other audiovisual media. The Director of the Department of Business and Industry is added as a non-voting member to the Board of Economic Development. The library of the variety and extent of locations in the State, which are available to produce motion pictures, must be made available on GOED’s website.
SB24 revises both workforce development requirements governing the approval of a GOED workforce development program, and provisions governing the administration of the Workforce Innovations for a New Nevada (WINN) account.
AB106 makes an appropriation to GOED for the provision of grants to certain entities impacted by the COVID-19 pandemic. This included a $50 million boost to the PETS grant program administered by GOED and the Treasurer’s Office.
AB184 temporarily creates the Office of Small Business Advocacy within the Office of the Lieutenant Governor to provide certain information to small business and to coordinate with certain State agencies and local governments to facilitate interactions between such entities and small businesses.
AB412 provides that a neighborhood occupantless vehicle may be operated on roadways with speed limits up to 45 miles per hour. The measure provides that a fully autonomous vehicle that is exclusively operated by an automated driving system is exempt from certain equipment requirements.
AB486 temporarily authorizes tenants subject to designated eviction proceedings to assert certain affirmative defenses relating to rental assistance.
SB9 creates a State-level exemption from licensure requirements for investment advisors to specific types of qualifying private funds as defined by federal law. The bill also defines conditions an adviser must meet to qualify for an exemption.
SB52 establishes a dark sky designation to sites in Nevada that possess varying degrees of exceptional or distinguished quality of starry nights and a nocturnal environment that is specifically protected for its scientific, natural, and educational value, as well as for public enjoyment. This is considered an important economic development tool for tourism throughout the State.
SB448 revises provisions in government public utilities. During the 12-year construction period of the Greenlink Nevada project, it is expected to generate $690 million in economic activity and support more than 3,700 jobs that will pay more than $406 million in wages and salaries. GOED currently has five projects in its business pipeline that are EV related.
AB191 requires the State Plan for Medicaid to include coverage for the services of a Community Health Worker under certain circumstances. This is critical in developing the healthcare workforce pipeline.
SB379 provides for the collection data concerning providers of health care. This will allow for the development of a baseline of characteristics of providers that can better assist workforce development planners on future deficits in any facet of health care.
SB434 appropriates $25 million for the construction of a medical school at UNLV. This will help Nevada recruit, train, and keep more medical professionals and could generate as many as 16,000 jobs over the next decade.
AB450 aligns workforce training and programs offered by community colleges in Nevada, to ensure that Nevadans are trained and ready for jobs of the future by bringing renewed focus and resources to Nevada’s community colleges recognizing the important role they play in Nevada’s future workforce development, economic growth, and higher education mission.
SB430 launches Nevada’s Infrastructure Bank with a $75 million appropriation to fast-track much-needed infrastructure projects across the State and create thousands of good-paying jobs.
AB494 appropriates $5 million over the biennium to the Nevada Knowledge Fund. The Knowledge Fund has been building research capacity for the development of new technologies at UNLV, UNR, and DRI which can be commercialized, as well as setting up and operating centers to engage in research and development collaborations with the private sector particularly with highly scalable small technology-based businesses. This will assist in further stimulating the growth of vibrant entrepreneurial ecosystems.
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the State. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development. More information on the Governor’s Office of Economic Development can be viewed at diversifynevada.com.