1. The Director shall administer the provisions of NRS 349.700 to 349.870, inclusive. The Director may:

(a) Employ or contract for the services of attorneys, accountants, financial experts, and other advisers, employees, consultants and agents as the Director determines to be necessary.

(b) Enter into any agreement or other transaction with, or accept any grant from and cooperate with any governmental entity or other source in furtherance of the purposes of NRS 349.700 to 349.870, inclusive.

(c) Within the financial resources made available to the Director in administering the program:

(1) Create or cause to be created any nonprofit corporation, pursuant to chapter 82 of NRS, which the Director determines is necessary or convenient for the furtherance of the purposes of NRS 349.700 to 349.870, inclusive. The purposes, powers and operation of the corporation must be consistent with the purposes of NRS 349.700 to 349.870, inclusive.

(2) Promote and assist the creation of any corporate entity formed under the general corporation laws of this or any other state or nation for the purpose of qualifying as a shared foreign sales corporation or other similar entity pursuant to 26 U.S.C. §§ 922 to 927, inclusive. The State must not have any financial interest in such a corporation.

2. If revenue bonds have been issued pursuant to NRS 349.825, the Director shall, before September of each even-numbered year, submit a report of the operations of the Department of Business and Industry in connection with this program for the biennium ending June 30 of that year to the State Board of Finance and the Legislative Commission. This report must include a complete statement of the income, expenses, assets and liabilities of the program.

(Added to NRS by 1985, 2014; A 1987, 1348; 1991, 1313; 1995, 644)