NV AB481

Creates the Sustainable Aviation Fuel Incentive Fund as a special revenue fund in the State Treasury, administered by the State Treasurer, with $10,000,000 appropriated from the State General Fund

Establishes the Sustainable Aviation Fuel Incentive Program providing $2.50 per gallon incentives to domestic air carriers for purchasing sustainable aviation fuel produced in Nevada

Eligible air carriers must be based in the United States and provide commercial air transportation to passengers; carriers obtain incentives by submitting claims to the State Treasurer for review

"Sustainable aviation fuel" is defined as liquid fuel meeting criteria in 26 U.S.C. § 40B (federal tax code provisions)

Legislative findings cite aviation's contribution to 10% of U.S. transportation sector greenhouse gas emissions and aim to reduce emissions from takeoff/landing at Nevada airports while developing the state's sustainable fuel industry