Bill Text: AZ HB2459 | 2015 | Fifty-second Legislature 1st Regular | Introduced

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Bill Title: Tax credit; foster parents

Spectrum: Partisan Bill (Democrat 12-0)

Status: (Introduced - Dead) 2015-02-09 - Referred to House WM Committee [HB2459 Detail]

Download: Arizona-2015-HB2459-Introduced.html

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REFERENCE TITLE: tax credit; foster parents

 

 

 

State of Arizona

House of Representatives

Fifty-second Legislature

First Regular Session

2015

 

 

HB 2459

 

Introduced by

Representatives Mendez, Cardenas, Gonzales, Steele: Andrade, Bolding, Clark, Espinoza, Fernandez, Gabaldón, Saldate, Velasquez

 

 

AN ACT

 

Amending section 43‑222, Arizona Revised Statutes; Amending Title 43, chapter 10, article 5, Arizona Revised Statutes, by adding section 43‑1075; relating to income tax.

 

 

(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:

START_STATUTE43-222.  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 43‑1075, 43‑1079.01, 43‑1087, 43‑1088, 43‑1167.01 and 43‑1175.

2.  For years ending in 1 and 6, sections 43‑1074.02, 43‑1083, 43‑1083.02, 43‑1085.01, 43‑1164.02, 43-1164.03 and 43‑1183.

3.  For years ending in 2 and 7, sections 43‑1073, 43‑1079, 43‑1080, 43‑1085, 43‑1086, 43‑1089, 43‑1089.01, 43‑1089.02, 43-1089.03, 43‑1090, 43‑1164, 43‑1167, 43‑1169, 43‑1176 and 43‑1181.

4.  For years ending in 3 and 8, sections 43‑1074.01, 43‑1081, 43‑1168, 43‑1170 and 43‑1178.

5.  For years ending in 4 and 9, sections 43‑1076, 43‑1076.01, 43‑1081.01, 43‑1083.01, 43‑1083.04, 43‑1084, 43‑1162, 43‑1162.01, 43‑1164.01, 43‑1164.05, 43‑1170.01 and 43-1184 and, beginning in 2019, sections 43‑1083.03 and 43‑1164.04. END_STATUTE

Sec. 2.  Title 43, chapter 10, article 5, Arizona Revised Statutes, is amended by adding section 43-1075, to read:

START_STATUTE43-1075.  Credit for foster care parents; definitions

A.  A credit is allowed against the taxes imposed by this title for a taxpayer who is a foster parent of a qualified foster child in a foster home for at least six consecutive months during the taxable year.

B.  The amount of the credit is equal to five thousand dollars for each qualified foster child.

C.  If the allowable tax credit exceeds the taxes otherwise due under this title on the claimant's income, or if there are no taxes due under this title, the amount of the claim not used to offset taxes under this title may be carried forward for not more than five consecutive taxable years as a credit against subsequent years' income tax liability.

D.  A husband and wife who file separate returns for a taxable year in which they could have filed a joint return may each claim only one‑half of the tax credit that would have been allowed on a joint return.

E.  Co‑owners of a foster home, including partners in a partnership and shareholders of an S corporation as defined in section 1361 of the internal revenue code, may claim only the pro rata share of the credit allowed under this section based on the ownership interest.  The total of the credits allowed all the owners of the business may not exceed the amount that would have been allowed for a sole owner of the foster home.

F.  The department may adopt rules pursuant to title 41, chapter 6 to carry out this section.

G.  For the purposes of this section:

1.  "Foster home" means a regular foster home as defined in section 8‑501 or a special foster Home as defined in section 8‑501.

2.  "Foster parent" has the same meaning as prescribed in section 8‑501.

3.  "Qualified foster child" means a child who is placed in a foster home by the department of child safety and who is any of the following:

(a)  At least ten years of age.

(b)  The sibling of another foster child in the same foster home.

(c)  A child who requires special care for a physical, mental or emotional reason or who has been adjudicated delinquent. END_STATUTE

Sec. 3.  Purpose

Pursuant to section 43‑223, Arizona Revised Statutes, the legislature enacts the credit under section 43‑1075, Arizona Revised Statutes, to encourage the fostering of qualified foster children by providing additional financial assistance to the foster parents.

Sec. 4.  Effective date

This act is effective from and after December 31, 2015.