NV AB557

Department of Taxation must develop and operate an automated data-matching system with financial institutions to collect outstanding debts owed to the State, including delinquent taxes, penalties, and interest

Financial institutions must provide quarterly reports to the Department containing names, addresses, and Social Security/taxpayer identification numbers of account holders identified as owing state debts

Upon receiving debt notification from the Department, financial institutions must encumber and surrender a debtor's assets sufficient to cover the outstanding debt

Financial institutions receive immunity from civil and criminal liability for disclosing information, encumbering assets, or taking other good-faith actions to comply with the law

Effective date: July 1, 2025