First bill in Tesla deal sails through Assembly
The Nevada Assembly has unanimously approved the first of four bills that make up a package of up to $1.3 billion in tax breaks and incentives the Legislature is considering to seal a deal to bring Tesla Motors' $5 billion battery factory to Nevada.
After just two minutes of debate, the Assembly voted 39-0 Thursday and sent to the Senate a bill that would end a $125 million annual tax break for insurance companies that locate their home offices in Nevada.
Democratic Assemblywoman Maggie Carlton of Las Vegas said only 1 percent of the 1,200 insurance companies in Nevada benefit from the current law.
The money would be used to help pay for up to $195 million in tax credits for Tesla to build the "gigafactory" at an industrial park east of Sparks.
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Nevada Assembly Speaker Marilyn Kirkpatrick, D-North Las Vegas, talks with Assemblyman Paul Anderson, R-Las Vegas, at the Legislature in Carson City, Nev., on Wednesday, Sept. 10, 2014. Nevada Gov. Brian Sandoval called lawmakers into a special session to examine a deal that gives $1.3 billion in tax breaks and other incentives to bring Tesla Motors to Nevada. (AP Photo/Cathleen Allison) -
Nevada Senators, from left, Ruben Kihuen, David Parks and Barbara Cegavske talk with Gov. Brian Sandoval, right center, at the Capitol, in Carson City, Nev., on Wednesday, Sept. 10, 2014. Sandoval called lawmakers into a special session to examine a deal that gives $1.3 billion in tax breaks and other incentives to bring Tesla Motors to Nevada. (AP Photo/Cathleen Allison)
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