A.B. 5 – Universal Film Tax Credit Bill

ASSEMBLY BILL NO. 5—ASSEMBLYMEMBERS JAUREGUI AND MONROE-MORENO

November 17, 2025

Referred to Select Committee on Jobs & Economy

SUMMARY—Enacts the Nevada Film Infrastructure and Workforce Training Act. (BDR S-63)

FISCAL NOTE: Effect on Local Government: May have Fiscal Impact. Effect on the State: Yes.

AN ACT relating to economic development; enacting the Nevada Film Infrastructure and Workforce Training Act; establishing requirements for production companies and infrastructure developers to be eligible for film infrastructure transferable tax credits for qualified productions and infrastructure projects in this State; providing for the calculation of the amount of film infrastructure transferable tax credits; revising provisions governing noninfrastructure transferable tax credits for motion pictures and other qualified productions produced in this State; authorizing annual amounts of infrastructure and noninfrastructure transferable tax credits; establishing the Account for Nevada Film, Media and Related Technology Education and Vocational Training and a board to approve distributions from the Account; providing for the distribution of money from the Account to entities and organizations for workforce training; establishing the Pre-K Education Enhancement Account and providing for direct distributions from the Account to school districts and other entities for prekindergarten programs statewide; and providing other matters properly relating thereto. Legislative Counsel’s Digest: Existing law provides transferable tax credits for production companies in Nevada. (NRS 360.758-360.7598) This bill enacts the Nevada Film Infrastructure and Workforce Training Act, authorizing film infrastructure transferable tax credits for qualified productions and infrastructure projects statewide, including facilities for production, distribution, and exhibition of motion pictures and other qualified productions. Sections 1 to 12 of this bill establish the eligibility requirements and calculation for infrastructure credits. Sections 13 to 15 of this bill amend existing law governing noninfrastructure transferable tax credits to align with this framework, including an exception for non-Nevada productions using Nevada post-production services. Sections 16 to 21 of this bill establish the Account for Nevada Film, Media and Related Technology Education and Vocational Training and a board to distribute money for workforce training. Sections 22 to 25 of this bill establish the Pre-K Education Enhancement Account and provide for direct distributions of money from the Account to school districts and other entities for prekindergarten programs statewide. The total amount of infrastructure and noninfrastructure transferable tax credits authorized annually is $105,000,000, effective January 5, 2026. THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Section 1. This act may be cited as the Nevada Film Infrastructure and Workforce Training Act. Sec. 2. 1. The Legislature hereby finds and declares that: (a) The film and media industry offers substantial economic benefits, including job creation and diversification, across all regions of this State. (b) Transferable tax credits for infrastructure and production expenditures will encourage investment and development of a sustainable film industry in Nevada, accessible to all qualifying entities. (c) The economic benefits of these incentives are expected to outweigh any revenue impact on state or local governments, supporting public services. (d) These incentives will further support early childhood education statewide, fostering long-term workforce development and community well-being by utilizing revenue from the film and media industry to fund prekindergarten programs.

1. These incentives are intended for statewide application, not limited to specific projects or locations.

Sec. 3. As used in sections 1 to 12, inclusive, of this act, unless the context otherwise requires, the words and terms defined in NRS 360.7581 to 360.7586, inclusive, as amended by section 13 of this act, and in sections 4 to 6, inclusive, of this act have the meanings ascribed to them in those sections.

Sec. 4. “Capital investment” means all costs and expenses incurred by an applicant in connection with the acquisition, construction, installation, and equipping of facilities, buildings, structures, or other infrastructure in this State intended primarily for the production, distribution, or exhibition of qualified productions, including any portion of such costs financed by loans, grants, or other financial assistance, but excluding costs related to marketing, distribution of the final product, or financing fees. Sec. 5. “Office” means the Office of Economic Development within the Office of the Governor. Sec. 6. “Qualified infrastructure project” means a project undertaken by a business or group of businesses in this State that involves the construction, improvement, or equipping of facilities, buildings, structures, or other infrastructure primarily intended for: (a) The production of qualified productions, including, without limitation, film and television production studios, interactive media studios, soundstages, backlots, or postproduction facilities; (b) The distribution of qualified productions, including, without limitation, distribution centers, warehouses, or digital streaming platforms based in Nevada; (c) The exhibition of qualified productions, including, without limitation, movie theaters, film festival venues, broadcast facilities, or screening rooms.

Sec. 7. 1. Beginning January 5, 2026, a production company that produces, in whole or in part, a qualified production in this State, or an infrastructure developer that undertakes a qualified infrastructure project in this State, may apply to the Office for a certificate of eligibility for film infrastructure transferable tax credits for any qualified direct production expenditures or capital investment incurred in this State.

1. The film infrastructure transferable tax credits issued pursuant to this section may be applied to: (a) Any tax imposed by chapter 363A or 363B of NRS; (b) The gaming license fees imposed by NRS 463.370; (c) Any tax imposed by chapter 680B of NRS; or (d) Any combination of the fees and taxes described in paragraphs (a), (b), and (c).
2. Except as otherwise provided in section 10 of this act, the Executive Director of the Office shall approve an application for a certificate of eligibility for film infrastructure transferable tax credits if the Office finds that the production company or infrastructure developer qualifies for the credits pursuant to subsection 4. If the Office approves an application, the Office shall calculate the estimated amount of film infrastructure transferable tax credits pursuant to sections 9 and 10 of this act.
3. To be eligible for film infrastructure transferable tax credits pursuant to this section, the production company or infrastructure developer must: (a) Submit an application that meets the requirements of subsection 5; (b) Provide proof satisfactory to the Office that at least 70 percent of the funding for the

qualified production or qualified infrastructure project has been obtained; (c) For a production company producing a qualified production: Provide proof satisfactory to the Office that: (1) At least 50 percent of the total number of days of principal photography will occur in this State; or (2) At least $50,000 of qualified direct production expenditures will be incurred in this State; (d) For an infrastructure developer undertaking a qualified infrastructure project: Provide proof satisfactory to the Office that at least $1,000,000 of capital investment will be incurred in this State for the project; (e) Not later than 365 days after the completion of principal photography of the qualified production or, if any direct production expenditures for postproduction will be incurred in this State, not later than 365 days after the completion of postproduction, or for a qualified infrastructure project, not later than 365 days after the completion of construction, unless the Office agrees to extend this period by not more than 180 days, provide the Office with: (1) An audit of the qualified production or qualified infrastructure project that: (I) Is performed by an independent certified public accountant in this State who is approved by the Office; (II) Includes an itemized report of all qualified direct production expenditures or capital investment; and (III) Shows that the qualified production or qualified infrastructure project satisfies the requirements of paragraph (c) or (d), as applicable; (f) Pay the cost of the audit required by subparagraph (1) of paragraph (e); (g) For a production company producing a qualified production: Enter into a written agreement with the Office that requires the production company, except when prohibited by law or when the qualified production is not distributed, to include in the end screen credits of the qualified production: (1) An on-screen acknowledgment of the State of Nevada, the language of which may be chosen by the applicant if approved by the Office; or (2) If the qualified production does not have end screen credits, an acknowledgment of the State of Nevada in the final version of the qualified production, the form of which must be approved by the Office and the production company; (h) Enter into an agreement with the Office that requires the production company or infrastructure developer to provide to each contractor, vendor, or loan-out company engaged to provide services in this State in connection with the qualified production or qualified infrastructure project a notice stating: (1) That this State imposes a tax pursuant to chapters 363A and 363B of NRS on wages paid by certain employers and a commerce tax pursuant to chapter 363C of NRS on business entities engaging in business in this State; and (2) Instructions for obtaining additional information from the Department of Taxation regarding the imposition, collection, and remittance of those taxes.

1. An application submitted pursuant to subsection 4 must contain: (a) For a production company producing a qualified production: A script, storyboard, or

synopsis of the qualified production; for an infrastructure developer undertaking a qualified infrastructure project: A detailed plan or blueprint of the qualified infrastructure project; (b) The names of the production company or infrastructure developer and, if known at the time of submission of the application, the proposed key personnel or contractors; (c) An estimated timeline to complete the qualified production or qualified infrastructure project; (d) A summary of the budgeted expenditures for the entire qualified production or qualified infrastructure project, including, without limitation, projected expenditures outside of Nevada; (e) Details regarding the financing of the qualified production or qualified infrastructure project, including, without limitation, any binding financing commitment, loan application, commitment letter, or investment letter; (f) An acknowledgment that the application and all documentation submitted in support of the application are public records pursuant to NRS 239.010 unless the Office approves a request for confidentiality pursuant to NRS 231.069; (g) An affirmation that, before beginning the production of the qualified production or construction of the qualified infrastructure project, the applicant will obtain a policy of general liability insurance in an amount of at least $1,000,000 and provide proof of such policy to the Office; (h) The business address of the production company or infrastructure developer, which must not be a residential address; (i) Proof that the qualified production or qualified infrastructure project meets any applicable requirements relating to workers’ compensation insurance pursuant to chapter 616A to 617, inclusive, of NRS; (j) Proof that the production company or infrastructure developer has secured all licenses and registrations required to do business in each location in this State at which the qualified production will be produced or the qualified infrastructure project will be constructed.

1. If the Office approves an application submitted pursuant to subsection 4, the Office shall immediately forward a copy of the certificate of eligibility, which identifies the estimated amount of the film infrastructure transferable tax credits calculated pursuant to sections 9 and 10 of this act, to: (a) The applicant; (b) The Department of Taxation; and (c) The Nevada Gaming Control Board.
2. Within 45 business days after receipt of an audit provided pursuant to paragraph (e) of subsection 4 and any other account, statement, or other information required by the Office, the Office shall determine whether to certify the audit and make a final determination of whether a certificate of film infrastructure transferable tax credits will be issued. If the Office certifies the audit and determines that all other requirements for the credits have been met, the Office shall notify the applicant that the credits will be issued. Within 30 days after receipt of the notice, the applicant shall make an irrevocable declaration of the amount of film infrastructure transferable tax credits that will be applied to each fee or tax set forth in subsection 2, thereby accounting for all the credits to be issued. Upon receipt of the declaration, the Office shall issue to the applicant a certificate of film infrastructure transferable tax credits in the amount approved by the Office for the fees or taxes included in the declaration. The applicant shall notify the Office upon transferring any credits issued pursuant to this subsection, and the Office shall notify the Department of Taxation and Nevada Gaming Control Board of all credits issued and transferred, segregated by fee or tax.
3. Within 60 days after the issuance of a certificate of film infrastructure transferable tax credits pursuant to subsection 7 or the use or transfer of such credits by the applicant, whichever occurs earlier, the applicant shall pay to the Office an amount equal to 1 percent of the amount of credits issued to the applicant. The Office shall deposit such money with the State Treasurer for credit to the Account created by section 20 of this act. For the purposes of calculating the amount of credits to be issued, this payment is deemed to be an amount from credits that would have been approved if the payment were not required by this subsection.
4. Within 60 days after the issuance of a certificate of film infrastructure transferable tax credits pursuant to subsection 7 or the use or transfer of such credits by the applicant, whichever occurs earlier, the applicant shall pay to the Office an additional amount equal to 1 percent of the amount of credits issued to the applicant. The Office shall deposit such money with the State Treasurer for credit to the Pre-K Education Enhancement Account created by section 23 of this act. For the purposes of calculating the amount of credits to be issued, this payment is deemed to be an amount from credits that would have been approved if the payment were not required by this subsection.
5. An applicant for film infrastructure transferable tax credits pursuant to this section shall, upon request of the Executive Director, furnish to the Office copies of any records deemed necessary by the Executive Director to verify eligibility under subsection 4.
6. The Office:

(a) Shall adopt regulations prescribing: (1) Additional qualified expenditures or costs for which credits may be approved pursuant to section 8 of this act; (2) The review process for applications; (3) That qualified productions requiring records under 18 U.S.C. § 2257 are not eligible; (4) Procedures for notice and correction of incomplete information; (b) May adopt any other regulations necessary to carry out sections 1 to 12 of this act.

1. The Nevada Tax Commission and Nevada Gaming Commission:

(a) Shall adopt regulations prescribing the manner in which credits issued pursuant to this section must be administered; (b) May adopt any other regulations necessary to carry out sections 1 to 12 of this act.

Sec. 8. 1. Qualified direct production expenditures or capital investments must be for purchases, rentals, leases, or construction of tangible personal property or services from a Nevada business during the period in which the qualified production is produced or the qualified infrastructure project is constructed, must be customary and reasonable, and must relate to: (a) Set construction and operation; (b) Wardrobe, makeup, and related accessories; (c) Photography, sound, and lighting; (d) Filming, film processing, and film editing; (e) Rental or leasing of facilities, locations, equipment, and vehicles; (f) Food and lodging or other travel expenses, including airfares purchased through a Nevada travel agency or business; (g) Editing, sound mixing, special effects, visual effects, and other postproduction services; (h) Payroll for Nevada residents employed in connection with the qualified production or qualified infrastructure project, including wages, fringe benefits, and per diem living expenses; (i) Payments for goods or services from a Nevada business to support production, distribution, or exhibition; (j) Design, construction, improvement, or repair of property, infrastructure, buildings, or facilities intended for production, distribution, or exhibition of qualified productions; (k) State and local taxes not included in other costs; (l) Other similar transactions authorized by regulation of the Office pursuant to section 7 of this act.

1. Expenditures and costs: (a) Related to the acquisition, transfer, or use of transferable tax credits, marketing or

distribution of the final product, financing fees, depreciation, amortization, audit costs required by section 7, or goods or services that cannot be attributed to a specific qualified production or qualified infrastructure project; (b) Reimbursed or expected to be reimbursed by a third party; (c) Paid to affiliates unless at fair market value and approved by the Office; (d) Previously claimed for credits under this act or another law, are not qualified direct production expenditures or capital investments and are not eligible for credits.

1. Tangible personal property acquired by a Nevada business from an out-of-state vendor for immediate resale, rental, or lease to an applicant is a qualified direct production expenditure or capital investment if the business regularly deals in such property and the expenditures meet the requirements of subsection 1.

Sec. 9. 1. Except as otherwise provided in subsection 2 and section 10 of this act, the base amount of film infrastructure transferable tax credits issued pursuant to section 7 of this act must equal 30 percent of the qualified direct production expenditures or capital investments incurred in this State.

1. The Office may:

(a) Reduce the base amount of credits issued pursuant to subsection 1 by 5 percent if less than 50 percent of the below-the-line personnel employed in connection with the qualified production or qualified infrastructure project are Nevada residents; (b) Reduce the cumulative amount of credits by an amount equal to damages incurred by the State or any political subdivision as a result of a qualified production or qualified infrastructure project; (c) Withhold credits, in whole or in part: (1) Until any pending legal action against the applicant or involving the qualified production or qualified infrastructure project is resolved; (2) If the applicant violates any state or local law in connection with the qualified production or qualified infrastructure project; (3) If the applicant knowingly submits false statements or documents to obtain credits. Sec. 10. 1. The Executive Director of the Office shall not approve applications for film infrastructure transferable tax credits if approval would cause the total amount of infrastructure and noninfrastructure transferable tax credits approved in any fiscal year to exceed $105,000,000 in any fiscal year beginning on or after January 5, 2026.

1. The total amount of film infrastructure transferable tax credits issued to an infrastructure developer or production company for a single qualified infrastructure project must not exceed $30,000,000 in any fiscal year.
2. If an application for film infrastructure transferable tax credits for a qualified infrastructure project that requires multiple fiscal years to complete would cause the total amount approved for that project in a fiscal year to exceed the limit prescribed by subsection 2, the Executive Director shall approve the application up to the limit for that fiscal year and allow the remaining amount, not to exceed $30,000,000 per fiscal year, to be carried forward and issued in subsequent fiscal years until the project is completed or the credits expire pursuant to subsection 6, provided that the total amount approved for the project across all fiscal years does not exceed the cumulative limit of $30,000,000 multiplied by the number of fiscal years required for completion.
3. If an application would cause the total amount of infrastructure and noninfrastructure transferable tax credits approved in a fiscal year to exceed the limit prescribed by subsection 1, the Executive Director shall approve the application and reduce the total amount available for approval in the next fiscal year by the amount of the excess.
4. Not more than 50 percent of the amount of credits not approved in a fiscal year because of the limit prescribed by subsection 1 may be carried forward to the next fiscal year and must be issued first in that fiscal year.
5. Credits issued pursuant to section 7 of this act expire at the end of the fiscal year that begins 7 years after the credits are issued.

Sec. 11. If a production company or infrastructure developer is found by the Office to have knowingly submitted false statements or documents to obtain credits or becomes ineligible after credits are issued, the production company or infrastructure developer shall repay to the Department of Taxation or Nevada Gaming Control Board, as applicable, any portion of credits to which it is not entitled. Credits purchased in good faith by a transferee are not subject to repayment unless the transferee knowingly submitted fraudulent information. Sec. 12. On or before January 5 of each year, the Office shall submit to the Governor and to the Director of the Legislative Counsel Bureau for transmittal to the Legislature an annual report that includes, for the immediately preceding fiscal year:

1. The number of applications submitted for film infrastructure transferable tax credits;
2. The number of qualified productions and qualified infrastructure projects approved;
3. The amount of credits approved, used, and transferred;
4. The amount of credits taken against each fee or tax set forth in subsection 2 of section 7;
5. The total amount of qualified direct production expenditures and capital investments and the portion incurred in Nevada;
6. The number of employees who are Nevada residents employed in connection with qualified productions and qualified infrastructure projects and the total amount of wages paid to those employees;
7. The period during which those employees were employed in this State.
8. The amount of money transferred to the Pre-K Education Enhancement Account pursuant to subsection 9 of section 7 of this act, the direct distributions made from the Account, and the use of such money by recipients, including program outcomes and enrollment impacts.

Sec. 13. NRS 360.759 is hereby amended to read as follows: 360.759 1. Beginning January 5, 2026, a production company that produces a qualified production in this State may apply to the Office of Economic Development for a certificate of eligibility for noninfrastructure transferable tax credits for any qualified direct production expenditures incurred in this State. The noninfrastructure transferable tax credits issued pursuant to this section may be applied to: (a) Any tax imposed by chapters 363A and 363B of NRS; (b) The gaming license fees imposed by NRS 463.370; (c) Any tax imposed by chapter 680B of NRS; or (d) Any combination of the fees and taxes described in paragraphs (a), (b), and (c).

1. Except as otherwise provided in NRS 360.7594 and subsection 8 of this section, the Executive Director of the Office shall approve an application for a certificate of eligibility for noninfrastructure transferable tax credits if the Office finds that the production company qualifies for the credits pursuant to subsection 3.
2. To be eligible for noninfrastructure transferable tax credits pursuant to this section, a production company must: (a) Submit an application that meets the requirements prescribed by subsection 5 of section 7

of this act; (b) Provide proof satisfactory to the Office that at least 70 percent of the funding for the qualified production has been obtained; (c) Provide proof satisfactory to the Office that: (1) At least 50 percent of the total number of days of principal photography will occur in this State; or (2) At least $50,000 of qualified direct production expenditures will be incurred in this State; (d) Not later than 365 days after the completion of principal photography of the qualified production or, if any direct production expenditures for postproduction will be incurred in this State, not later than 365 days after the completion of postproduction, unless the Office agrees to extend this period by not more than 180 days, provide the Office with: (1) An audit of the qualified production that: (I) Is performed by an independent certified public accountant in this State who is approved by the Office; (II) Includes an itemized report of all qualified direct production expenditures; and (III) Shows that the qualified production satisfies the requirements of paragraph (c) or subsection 8, as applicable; (e) Pay the cost of the audit required by subparagraph (1) of paragraph (d); (f) Enter into a written agreement with the Office that requires the production company, except when prohibited by law or when the qualified production is not distributed, to include in the end screen credits of the qualified production: (1) An on-screen acknowledgment of the State of Nevada, the language of which may be chosen by the applicant if approved by the Office; or (2) If the qualified production does not have end screen credits, an acknowledgment of the State of Nevada in the final version of the qualified production, the form of which must be approved by the Office and the production company; (g) Enter into an agreement with the Office that requires the production company to provide to each contractor, vendor, or loan-out company engaged to provide services in this State in connection with the qualified production a notice stating: (1) That this State imposes a tax pursuant to chapters 363A and 363B of NRS on wages paid by certain employers and a commerce tax pursuant to chapter 363C of NRS on business entities engaging in business in this State; and (2) Instructions for obtaining additional information from the Department of Taxation regarding the imposition, collection, and remittance of those taxes.

1. An application submitted pursuant to this section must contain the information and be submitted in the manner prescribed by subsection 5 of section 7 of this act.
2. If the Office approves an application submitted pursuant to this section, the Office shall follow the procedure set forth in subsections 6 and 7 of section 7 of this act for issuing a certificate of noninfrastructure transferable tax credits in the amount calculated pursuant to NRS 360.7592 and 360.7594.
3. Within 60 days after the issuance of a certificate of noninfrastructure transferable tax credits pursuant to subsection 5 or the use or transfer of such credits by the applicant, whichever occurs earlier, the applicant shall pay to the Office an amount equal to 1 percent of the amount of credits issued to the applicant, which the Office shall deposit with the State Treasurer for credit to the Account created by section 20 of this act.
4. Within 60 days after the issuance of a certificate of noninfrastructure transferable tax credits pursuant to subsection 5 or the use or transfer of such credits by the applicant, whichever occurs earlier, the applicant shall pay to the Office an additional amount equal to 1 percent of the amount of credits issued to the applicant, which the Office shall deposit with the State Treasurer for credit to the Pre-K Education Enhancement Account created by section 23 of this act.
5. For productions filmed outside Nevada seeking noninfrastructure transferable tax credits for post-production services performed exclusively by a Nevada business, the Office may, upon request, provide an exception to the requirements of paragraph (c) of subsection 3, provided that the production incurs at least $10,000 in qualified direct production expenditures for such services in this State.
6. The Office, Nevada Tax Commission, and Nevada Gaming Commission shall adopt regulations as set forth in subsections 10 and 11 of section 7 of this act.

Sec. 14. NRS 360.7592 is hereby amended to read as follows: 360.7592 1. Except as otherwise provided in subsection 2 and NRS 360.7594, the base amount of noninfrastructure transferable tax credits issued pursuant to NRS 360.759 must equal 30 percent of the qualified direct production expenditures incurred in this State.

1. The Office may reduce or withhold credits as set forth in subsection 2 of section 9 of this act.

Sec. 15. NRS 360.7594 is hereby amended to read as follows: 360.7594 1. The Executive Director of the Office shall not approve applications for noninfrastructure transferable tax credits if approval would cause the total amount of infrastructure and noninfrastructure transferable tax credits approved in any fiscal year to exceed $105,000,000 in any fiscal year beginning on or after January 5, 2026.

1. If an application would cause the total amount of infrastructure and noninfrastructure transferable tax credits approved in a fiscal year to exceed the limit prescribed by subsection 1, the Executive Director shall approve the application and reduce the total amount available for approval in the next fiscal year by the amount of the excess.
2. Not more than 50 percent of the amount of credits not approved in a fiscal year because of the limit prescribed by subsection 1 may be carried forward to the next fiscal year and must be issued first in that fiscal year.
3. The total amount of noninfrastructure transferable tax credits issued to a production company for a single qualified production must not exceed $8,000,000, except that for productions qualifying under subsection 8 of section 13 of this act, the total amount must not exceed $3,000,000.
4. Credits issued pursuant to NRS 360.759 expire at the end of the fiscal year that begins 6 years after the credits are issued.

Sec. 16. 1. NRS 360.7586 is hereby amended to align with the definitions and timelines set forth in this act.

1. NRS 360.7595 is hereby amended to align with the procedures and requirements set forth in this act.

Sec. 17. Chapter 231 of NRS is hereby amended by adding thereto the provisions set forth as sections 18 to 25, inclusive, of this act. Sec. 18. “Account” means the Account for Nevada Film, Media and Related Technology Education and Vocational Training created by section 20 of this act. Sec. 19. “Board” means the Board for Nevada Film, Media and Related Technology Education and Vocational Training created by section 21 of this act.

Sec. 20. 1. The Account for Nevada Film, Media and Related Technology Education and Vocational Training is hereby created in the State General Fund.

1. The Account must be administered by the Office in accordance with the directions of the Board.
2. The Account consists of: (a) Money paid to the Office pursuant to subsection 8 of section 7 and subsection 6 of section

13 of this act; (b) Any grants, gifts, or donations received for deposit in the Account; (c) Any money appropriated to the Account by the Legislature; (d) Any interest and income earned on money in the Account.

1. The money in the Account must be used to pay the costs of providing grants to educational institutions, governmental entities, and nonprofit organizations in this State to establish or enhance workforce training programs relating to qualified productions.
2. The money in the Account does not revert to the State General Fund at the end of any fiscal year and must be carried forward to the next fiscal year.

Sec. 21. 1. The Board for Nevada Film, Media and Related Technology Education and Vocational Training is hereby created within the Office.

1. The Board consists of 9 voting members as follows:

(a) Three members appointed by the Governor; (b) Two members appointed by the Majority Leader of the Senate; (c) Two members appointed by the Speaker of the Assembly; (d) Two members appointed by the Chancellor of the Nevada System of Higher Education or a designee.

1. Members serve terms of 4 years, with initial terms staggered, and may be reappointed.
2. The Board shall meet at least twice each year and at the call of the Chair, with a majority constituting a quorum.

Sec. 22. 1. The Board shall establish: (a) Procedures for applying for a grant from the Account; (b) Criteria for approving applications; (c) Requirements for recipients to report on the use of grant money.

1. Any grant from the Account must be approved by a majority vote of the Board.
2. A recipient of a grant shall adopt a community benefits program that includes, without limitation: (a) Workforce development and training strategies; (b) Actions and strategies to enhance workforce skills; (c) Goals and measures to assess the success of training programs.

Sec. 23. 1. The Pre-K Education Enhancement Account is hereby created in the State General Fund.

1. The Pre-K Education Enhancement Account must be administered by the Office in consultation with the Department of Education.
2. The Pre-K Education Enhancement Account consists of:(a) Money paid to the Office pursuant to subsection 9 of section 7 and subsection 7 of section 13 of this act;(b) Any grants, gifts, or donations received for deposit in the Pre-K Education Enhancement Account;(c) Any money appropriated to the Pre-K Education Enhancement Account by the Legislature;(d) Any interest and income earned on money in the Pre-K Education Enhancement Account.
3. The money in the Pre-K Education Enhancement Account must be used to provide direct funding to school districts, governmental entities, and nonprofit organizations in this State to establish or enhance prekindergarten education programs, including the development and implementation of early childhood education opportunities statewide.
4. The money in the Pre-K Education Enhancement Account does not revert to the State General Fund at the end of any fiscal year and must be carried forward to the next fiscal year.

Sec. 24. 1. The Office, in consultation with the Department of Education, shall allocate and distribute money from the Pre-K Education Enhancement Account directly to eligible recipients statewide, based on criteria established pursuant to subsection 1 of section 25 of this act.

1. Distributions must be made pursuant to interlocal or cooperative agreements entered into under chapter 277 of NRS between the Office, the Department of Education, and the recipient entity. Such agreements:(a) May pledge and commit money from the Pre-K Education Enhancement Account for periods extending beyond a single fiscal year, notwithstanding the provisions of NRS 354.626;(b) Must require the recipient to deposit the distributed money into a separate account within its fund and use the money solely for prekindergarten programs;(c) Must provide that the distributed money supplements, and does not supplant, any existing funding for prekindergarten programs.
2. Eligible recipients include school districts, governmental entities, and nonprofit organizations that provide prekindergarten education services in this State.
3. The pledge and distribution of money pursuant to this section does not affect the use of revenues for public safety, indigent services, or the payment of principal or interest on any existing bonds or other obligations.

Sec. 25. 1. The Office, in consultation with the Department of Education, shall adopt regulations to: (a) Establish criteria for allocating and distributing money from the Pre-K Education Enhancement Account, including considerations for underserved communities and statewide equity; (b) Prescribe the form and content of agreements required pursuant to subsection 2 of section 24 of this act; (c) Require recipients to submit annual reports to the Office on the use of distributed money, including program outcomes, enrollment impacts, and compliance with the requirements of this act.

1. Recipients shall use distributed money solely for prekindergarten programs, which may include, without limitation, the development and implementation of early childhood education opportunities.

Sec. 26. 1. This act becomes effective on January 5, 2026, and expires by limitation on June 30, 2039.

1. The provisions of subsection 1 of NRS 218D.380 do not apply to any provision of this act which adds or revises a requirement to submit a report to the Legislature.
2. The Legislative Counsel shall: (a) In preparing the Nevada Revised Statutes, use the authority set forth in subsection 10 of

NRS 220.120 to substitute appropriately the term “noninfrastructure transferable tax credits” in NRS 360.758 to 360.7598, inclusive, for the term “transferable tax credits” as previously used in those sections. (b) In preparing supplements to the Nevada Administrative Code, substitute appropriately the term “noninfrastructure transferable tax credits” in NAC 360.800 to 360.865, inclusive, for the term “transferable tax credits” as previously used in those sections.Sec. 27. The Office shall adopt regulations to implement sections 23 to 25 of this act, including criteria for direct distributions from the Pre-K Education Enhancement Account.Sec. 28. This section and sections 1 to 27, inclusive, of this act apply to all qualified productions and infrastructure projects commencing on or after the effective date of this act.