NV SB385

Applicants for transferable tax credits or tax abatements from the Office of Economic Development must include a workforce development plan in their agreement that trains incumbent or new employees through Nevada System of Higher Education institutions, private postsecondary schools, school districts, or charter schools

Workforce development programs must result in a postsecondary or industry-recognized credential, or an identifiable occupational skill meeting applicable industry standards upon completion

The Office of Economic Development may investigate recipients to determine substantial compliance with workforce development plan terms

Recipients who fail to substantially comply with their workforce development plan must repay the full amount of tax credits or abatements received, plus interest at the rate established under NRS 99.040

Requirements apply only to applications submitted on or after July 1, 2025, with various sections expiring between June 30, 2032 and June 30, 2036