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REFERENCE TITLE: tax credit; higher education students |
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State of Arizona House of Representatives Fifty-sixth Legislature Second Regular Session 2024
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HB 2579 |
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Introduced by Representatives Quiñonez: Crews, Ortiz, Schwiebert, Seaman
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An Act
amending section 43-222, Arizona Revised Statutes; amending title 43, chapter 10, article 5, Arizona Revised Statutes, by adding section 43-1080; relating to individual income tax credits.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 43-222, Arizona Revised Statutes, is amended to read:
43-222. Income tax credit review schedule
The joint legislative income tax credit review committee shall review the following income tax credits:
1. For years ending in 0 and 5, sections 43-1079.01, 43-1088, 43-1089.04, 43-1167.01 and 43-1175.
2. For years ending in 1 and 6, sections 43-1072.02, 43-1074.02, 43-1075, 43-1076.01, 43-1077, 43-1078, 43-1083, 43-1083.02, 43-1162, 43-1164.03 and 43-1183.
3. For years ending in 2 and 7, sections 43-1073, 43-1082, 43-1085, 43-1086, 43-1089, 43-1089.01, 43-1089.02, 43-1089.03, 43-1164, 43-1165, and 43-1181.
4. For years ending in 3 and 8, sections 43-1074.01, 43-1168, 43-1170 and 43-1178.
5. For years ending in 4 and 9, sections 43-1073.01, 43-1080, 43-1081.01, 43-1083.03, 43-1084, 43-1164.04, 43-1164.05 and 43-1184.
Sec. 2. Title 43, chapter 10, article 5, Arizona Revised Statutes, is amended by adding section 43-1080, to read:
43-1080. Credit for low-income university and community college students
A. A credit is allowed against the taxes imposed by this chapter for a taxable year for a taxpayer who meets the following requirements:
1. Is not claimed as a dependent by any other taxpayer.
2. Is currently enrolled as a student at any university under the jurisdiction of the Arizona board of regents or a community college in this state.
3. Completes and submits the free application for federal STUDENT aid and meets the eligibility criteria for a federal pell grant.
B. The amount of the credit is $1,000 for each person who meets the requirements prescribed in subsection A of this section and who is either the taxpayer or the taxpayer's spouse who does not file a return.
C. If the allowable amount of the credit exceeds the income taxes otherwise due on the claimant's income, the amount of the claim not used as an offset against income taxes shall be paid in the same manner as a refund granted under section 42-1118. Refunds made pursuant to this subsection are subject to setoff under section 42-1122.
Sec. 3. Purpose
Pursuant to section 43-223, Arizona Revised Statutes, the legislature enacts section 43-1080, Arizona Revised Statutes, as added by this act, to support low-income taxpayers in this state who are pursuing higher education.