File #: 25-2320   
Status: Passed
File created: 4/24/2025 In control: Clark County Board of Commissioners
On agenda: 5/6/2025 Final action: 5/6/2025
Title: Approve and authorize the Chair to sign the Interlocal Agreement with the Clark County Stadium Authority, State of Nevada Department of Taxation and State of Nevada Division of Insurance of the Department of Business and Industry to establish procedures for the collection and distribution of taxes collected in the Sports and Entertainment Improvement District 1. (For possible Action)
Attachments: 1. Staff Report, 2. SEID Interlocal Agreement 05.06.25 BCC

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Jessica Colvin, Chief Financial Officer

Recommendation: 

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Approve and authorize the Chair to sign the Interlocal Agreement with the Clark County Stadium Authority, State of Nevada Department of Taxation and State of Nevada Division of Insurance of the Department of Business and Industry to establish procedures for the collection and distribution of taxes collected in the Sports and Entertainment Improvement District 1.  (For possible Action)

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FISCAL IMPACT:

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Funded PGM/Grant:

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Additional Comments:

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BACKGROUND: 

On April 15, 2025, the Clark County Board of County Commissioners established the Sports and Entertainment Improvement District 1 ("SEID") pursuant to the requirements of the Southern Nevada Tourism Innovation Act, Chapter 1, Statutes of Nevada, 2023, 25th Special Session ("Act').  After the adoption of the SEID, Section 29(7) of the Act requires the County, Department of Taxation and Division of Insurance of the Department of Business and Industry to enter into an agreement establishing the procedures for the distribution of any money pledged pursuant to the Act to pay for the bonds required to be issued pursuant to the Act. This Agreement establishes the process between the parties regarding the collection and distribution of fees, taxes and charges that are identified in the Act to be collected within the SEID.