This bill proposes amendments to the Arizona Revised Statutes, specifically adding sections 43-1080 and 43-1169, which would introduce new income tax credits for landowners who permit the federal government to use their land for the construction of an international boundary wall. The new provisions would allow taxpayers to claim a credit equal to the fair market value of the land used, as determined by an appraisal. Co-owners of a business would be able to claim a pro rata share of the credit based on their ownership interest, and if the credit exceeds the taxpayer's tax liability, it can be carried forward for up to five consecutive years.

The bill also clarifies that the total credits allowed to co-owners cannot exceed what would have been allowed to a sole owner, ensuring equitable distribution of the tax benefits. The intent of these amendments is to support private landowners who are contributing to federal efforts in border security by allowing the use of their land. Overall, the bill aims to provide financial relief and incentives for landowners involved in this federal project.

Statutes affected:
Introduced Version: 43-222, 43-1080, 43-1169, 43-1079.01, 43-1088, 43-1089.04, 43-1167.01, 43-1175, 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, 43-1183, 43-1073, 43-1082, 43-1085, 43-1086, 43-1089, 43-1089.01, 43-1089.02, 43-1089.03, 43-1164, 43-1165, 43-1181, 43-1074.01, 43-1168, 43-1170, 43-1178, 43-1073.01, 43-1081.01, 43-1083.03, 43-1084, 43-1164.04, 43-1164.05, 43-1184, 32-3601