Bill Text: AZ HCR2024 | 2013 | Fifty-first Legislature 1st Regular | Introduced
Bill Title: Tax deductions; exemptions; credits; repeal
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-02-14 - Referred to House WM Committee [HCR2024 Detail]
Download: Arizona-2013-HCR2024-Introduced.html
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REFERENCE TITLE: tax deductions; exemptions; credits; repeal |
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State of Arizona House of Representatives Fifty-first Legislature First Regular Session 2013
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HCR 2024 |
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Introduced by Representative Campbell
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A CONCURRENT RESOLUTION
Enacting and ordering the submission to the people of a measure relating to taxation.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it resolved by the House of Representatives of the State of Arizona, the Senate concurring:
1. Under the power of the referendum, as vested in the legislature, the following measure, relating to taxation, is enacted to become valid as a law if approved by the voters and on proclamation of the Governor:
AN ACT
Amending Title 42, chapter 5, article 1, Arizona Revised Statutes, by adding section 42-5039; Amending sections 43‑222 and 43‑223, Arizona Revised Statutes; relating to taxation.
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 42, chapter 5, article 1, Arizona Revised Statutes, is amended by adding section 42-5039, to read:
42-5039. Requirements for new transaction privilege or use tax deductions and exemptions established by the legislature
A. Any new transaction privilege or use tax deduction or exemption that is established by the legislature under this chapter shall include in its enabling legislation a specific repeal date for the deduction or exemption. The specific repeal date shall be from and after December 31 of the seventh full calendar year following the date the deduction or exemption is enacted.
B. Notwithstanding sections 42-5061, 42-5062, 42-5063, 42-5064, 42‑5065, 42-5066, 42-5067, 42-5069, 42-5070, 42‑5071, 42-5072, 42-5073, 42‑5074, 42‑5075, 42-5102 and 42-5159, any deduction or exemption allowed by these sections shall not be deducted or exempted from the tax base for taxable periods beginning from and after December 31, 2020. The legislature may extend this date for any deduction or exemption allowed by these sections.
Sec. 2. Section 43-222, Arizona Revised Statutes, is amended to read:
43-222. Income tax credit review schedule; automatic repeal
A. 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, 43‑1087, 43‑1088, 43‑1090.01, 43‑1167.01, 43‑1175 and 43‑1182.
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, 43‑1084, 43‑1162, 43‑1162.01, 43‑1164.01, 43‑1170.01 and 43-1184 and, beginning in 2019, sections 43-1083.03 and 43‑1164.04.
B. Unless the legislature enacts legislation to continue the income tax credit before January 1 of the second year following the year prescribed for review in subsection A of this section, an income tax credit described in subsection A of this section is repealed from and after December 31 of the year following the year prescribed for review.
Sec. 3. Section 43-223, Arizona Revised Statutes, is amended to read:
43-223. 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 the fifth full calendar year following the date the credit is enacted.
2. A specific repeal date for the tax credit. The repeal date shall be from and after December 31 of the seventh full calendar year following the date the credit is enacted. The required repeal does not affect the carryforward of any tax credit to which a taxpayer is entitled. A taxpayer may continue to apply the amounts carried forward to subsequent years' income tax liabilities as provided by the credit.
2. 3. A purpose clause that explains the rationale and objective of the tax credit.
2. The Secretary of State shall submit this proposition to the voters at the next general election as provided by article IV, part 1, section 1, Constitution of Arizona.
