State SealARIZONA HOUSE OF REPRESENTATIVES

 

HB 2090: tax credit review; evaluation standard

PRIME SPONSOR: Representative John, LD 14

BILL STATUS: Ways & Means

 

Legend: Committee – Joint Legislative Income Tax Credit Review Committee SOS - Secretary of State Amendments – BOLD and Stricken (Committee)

Abstract

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteRelating to the Joint Legislative Income Tax Credit Review Committee.

Provisions

1.       Expands the Committee standard for evaluating tax credits to include determining if adequate protections are in place to ensure that the fiscal impact of a credit will not increase substantially in future years. (Sec. 1)

2.       Removes the requirement that the Committee provide a report to the Director of the Arizona State Library, Archives and Public Record, but instead requires a copy be provided to the SOS. (Sec. 1)

3.       Makes technical changes. (Sec. 1)

Current Law

A.R.S § 43-221 establishes the Committee, consisting of five members of the House of Representatives Ways and Means Committee and five members of the Senate Finance Committee. The Committee is tasked with determining whether each tax credit should be amended, repealed or retained by evaluating the revenue impact of the credit, whether the credit has provided a benefit to the state and whether the credit is unnecessarily complex. The Committee must report its findings and recommendations to the President of the Senate, the Speaker of the House of Representatives and the Governor. The evaluation of each credit is to take place every five years as prescribed by A.R.S § 43-222.

 

 

 

 

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Fifty-third Legislature                  HB 2090

Second Regular Session                               Version 1: Ways & Means

 

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