ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fifth Legislature

First Regular Session

House: WM DP 6-4-0-0

HB 2113: charitable contribution; deduction; inflation adjustment

Sponsor:  Representative Bolick, LD 20

Caucus and COW

Overview

Increases the 25% of allowed charitable deductions in accordance with changes in the metropolitan Phoenix consumer price index (CPI).

History

Under current law, 25% of the total amount of charitable deductions made by a taxpayer may be taken in addition to the standard deduction on an individual income tax return. The standard deduction for a single person or a married person filing separately is $12,200. The standard deduction for a married couple filing a joint return or a single person who is a head of a household is $24,400. (A.R.S. § 42-1041).

Provisions

1.    ☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteIncreases the 25% of allowed charitable deductions in accordance with the average annual change in the metropolitan Phoenix CPI.

2.    Requires the revised percentage to be raised to the nearest whole percent.

3.    Prohibits the revised percentage from being revised below the amounts prescribed in the prior taxable year.

4.    Applies these provisions to taxable years beginning January 1, 2022.

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8.                      HB 2113

9.    Initials VP  Page 0 Caucus & COW

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