Exemption of certain property used for housing elderly or handicapped persons. All real property and tangible personal property used exclusively for housing and related facilities for elderly or handicapped persons are exempt from taxation if:
1. The property was wholly or partially financed by a loan under the Housing Act of 1959, as amended, 12 U.S.C. § 1701q; and
2. The property is owned or operated:
(a) By a nonprofit corporation organized under the laws of the State of Nevada; or
(b) By a nonprofit corporation organized under the laws of another state and qualified to do business as a nonprofit corporation under the laws of the State of Nevada.
Last modified: February 27, 2006