Bill Amendment: AZ SB1149 | 2019 | Fifty-fourth Legislature 1st Regular

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Tax credit review; evaluation standard

Status: 2019-04-02 - House minority caucus: Do pass [SB1149 Detail]

Download: Arizona-2019-SB1149-SENATE_-_Navarrete_flr_amend_ref_Bill_.html

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            Bill Number: S.B. 1149

            Navarrete Floor Amendment

            Reference to: printed bill

            Amendment drafted by: Sean Laux

 

 

FLOOR AMENDMENT EXPLANATION

 

·         Requires the Joint Legislative Income Tax Credit Review Committee (Committee) to meet at least once annually.

 

·         Requires Legislative Council to prepare proposed legislation for consideration in the next legislative session based on the Committee’s recommendations.

 

·         Requires any new income tax credit to contain a sunset date of December 31 of the taxable year the credit is reviewed by the Committee.

 

 

 

 

 

     

                             

 

Fifty-fourth Legislature                                                Navarrete

First Regular Session                                                   S.B. 1149

 

NAVARRETE FLOOR AMENDMENT

SENATE AMENDMENTS TO S.B. 1149

(Reference to printed bill)

Page 1, between lines 14 and 15, insert:

 "B.  THE COMMITTEE SHALL MEET AT LEAST ANNUALLY AND ON THE CALL OF THE CHAIRPERSON."

Reletter to conform

Between lines 45 and 46, insert:

 "F.  IF NECESSARY, THE LEGISLATIVE COUNCIL STAFF SHALL PREPARE PROPOSED LEGISLATION FOR CONSIDERATION IN THE NEXT LEGISLATIVE SESSION BASED ON THE RECOMMENDATIONS OF THE COMMITTEE."

Reletter to conform

After line 47, insert:

"Sec. 2. Section 43-223, Arizona Revised Statutes, is amended to read:

START_STATUTE43-223.  Requirements for new income tax credits established by the legislature

Any new individual or corporate income tax credit that is enacted by the legislature shall include in its enabling legislation:

1.  A specific review year for the joint legislative income tax credit review committee to review the credit.  The specific review year shall be NOT LATER THAN the fifth full calendar year following the date the credit is enacted.

2.  A SPECIFIC TAXABLE YEAR REPEAL DATE FOR THE CREDIT THAT IS FROM AND AFTER DECEMBER 31 OF THE REVIEW YEAR.

2.  3.  A purpose clause that explains the rationale and objective of the tax credit."

Amend title to conform

TONY NAVARRETE

1149NAVARRETE0954

02/14/2019

09:54 AM

S: SL/dr