ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fourth Legislature

Second Regular Session

House: WM DP 7-3-0-0

HB 2409: small business investment credit; extension

Sponsor:  Representative Cobb, LD 5

Caucus and COW

Overview

Extends the capital investment incentives authorization and the tax credit for investment in qualified small businesses 10 years.

History

Allows the Arizona commerce authority to evaluate applications submitted by qualified investors to receive a tax credit through June 30, 2021. The authority will not certify tax credits under this section exceeding $20,000,000 (A.R.S § 41-1518).

For taxable years through December 31, 2024 a credit is allowed against the taxes imposed by this title for investments made after June 30, 2006 in qualified small businesses.  The taxpayer must attach a copy of the Arizona commerce authority certification or the credit will not be granted (A.R.S § 43-1074.02).

Provisions

1.    Extends the capital investment incentives tax credit authorization for 10 years, through June 30, 2031. (Sec. 1)

2.    Extends the tax credit for investment in qualified small businesses pursuant to this section for 10 years, through December 31, 2034.☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note (Sec. 2)

3.    Contains technical changes (Sec. 1, 2)

 

 

 

 

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Initials: VP/BG            Caucus and COW

 

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