If enacted, this bill would extend the transaction privilege tax (TPT) deduction and use tax exemption for qualifying equipment purchased by certified healthy forest enterprises from the current expiration date of December 31, 2026, to December 31, 2028. This change is reflected in the updated language that replaces the year "2026" with "2028" in the relevant statutes. The qualifying equipment must still be used for harvesting or processing qualifying forest products as defined in section 41-1516, and businesses must present their certification from the Arizona Commerce Authority at the time of purchase to qualify for the deduction or exemption.

Additionally, the bill clarifies the requirements for obtaining the exemption by specifying that the qualified business must present its certification from the Arizona Commerce Authority at the time of purchase, rather than simply stating it must be "approved by the department." This change aims to streamline the process and ensure that businesses are aware of the certification requirement to benefit from the tax incentives. Overall, the bill seeks to support the Healthy Forest Enterprise Incentives Program by providing a longer timeframe for tax benefits associated with qualifying equipment purchases.

Statutes affected:
Introduced Version: 42-5061, 42-5159, 42-5156, 23-501, 36-1901, 28-5201, 42-5074, 42-6017, 88-525, 95-627, 99-661, 111-296, 28-5739, 28-8344, 42-5001, 42-5075, 42-5009, 28-2154, 28-2154.01, 42-5073, 3-311, 46-191, 36-551, 41-3201, 41-1514.02, 1-215, 49-426, 49-480, 41-1516, 44-1771, 42-5014, 42-5063, 45-604, 28-1171, 104-104, 41-1519, 44-1302, 42-5064, 42-5029, 42-5032.01
House Engrossed Version: 42-5061, 42-5159, 42-5156, 23-501, 36-1901, 28-5201, 42-5074, 42-6017, 88-525, 95-627, 99-661, 111-296, 28-5739, 28-8344, 42-5001, 42-5075, 42-5009, 28-2154, 28-2154.01, 42-5073, 3-311, 46-191, 36-551, 41-3201, 41-1514.02, 1-215, 49-426, 49-480, 41-1516, 44-1771, 42-5014, 42-5063, 45-604, 28-1171, 104-104, 41-1519, 44-1302, 42-5064, 42-5029, 42-5032.01