The agency may in any year during which it owns property in a redevelopment project pay to any city, county, district or other public corporation which would have levied a tax upon such property, had it not been exempt, an amount of money in lieu of taxes.
NRS 279.496
Property owned in redevelopment project: Payment of money in lieu of taxes
Known as the Community Redevelopment Law
The act spans §§ 279–279 (157 sections).
(Added to NRS by 1959, 656)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.