This bill proposes to amend current statutes regarding personal property exemptions in Arizona, specifically concerning federal and state Earned Income Tax Credits (EITCs) and Child Tax Credits. Under current law, only the refundable portion of these credits is exempt from debt collection actions, with the exemption amount limited to the lesser of the total combined amount of tax refunds or the total combined amount of the credits claimed. The new bill language would expand this exemption to include all federal and state EITCs and Child Tax Credits, thereby protecting the entire amount from execution, attachment, or sale for debt collection purposes.

Additionally, the bill includes technical and conforming changes, such as updating the exemption amounts for certain personal property and repealing previous amendments that limited the exemptions. Specifically, it would remove the existing statute that only exempts the refundable portion of the credits, thus simplifying the legal framework and enhancing protections for individuals receiving these tax credits. Overall, if enacted, the bill would provide broader financial protections for low-income and moderate-income individuals and families in Arizona.