REFERENCE TITLE: capital expenditures; tax incentives; reporting

State of Arizona

Senate

Fifty-sixth Legislature

First Regular Session

2023

SB 1685

Introduced by

Senator Epstein

An Act

amending title 41, chapter 10, article 1, Arizona Revised Statutes, by adding section 41-1527; relating to the Arizona commerce authority.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Title 41, chapter 10, article 1, Arizona Revised Statutes, is amended by adding section 41-1527, to read:

START_STATUTE41-1527. Capital expenditure reporting; definitions

A. On or before March 1 of each year, any person that receives a tax incentive pursuant to this article shall report to the AUTHORITY the person's total capital expenditures made in this state.

B. On or before May 1 of each year, the authority shall consolidate and report the information received pursuant to subsection A of this section to the joint legislative budget committee. 

C. For the purposes of this section:

1. "Capital expenditures":

(a) means an expenditure to acquire, lease or improve property that is used in operating a business, including land, buildings, machinery, equipment and fixtures.

(b) Includes supplies and materials used to improve property.

2. "Tax incentive" means an exemption, in whole or in part, that exempts any person, income, good, service or property from the impact established by taxes and classifications, including deductions, subtractions, exclusions, exemptions, allowances and credits. END_STATUTE