This bill proposes to amend the Arizona Revised Statutes by adding section 43-1080, which introduces a new tax credit for taxpayers who hire qualified members of targeted groups. Specifically, for taxable years beginning after December 31, 2025, taxpayers would be eligible for a credit against their income tax liability for each qualified member hired. The credit amount would be the lesser of the federal work opportunity tax credit claimed, the taxpayer's Arizona income tax liability, or $1,000 for each qualified member's wages.

Additionally, the bill outlines the certification process for claiming the credit, stipulating that taxpayers must attach a certification from the Department of Economic Security to their tax returns. The department is limited to certifying a total of $10,000,000 in credits and no more than ten thousand certifications per calendar year, with a first-come, first-served basis for issuing these certifications. The bill also clarifies definitions related to the credit, including "qualified wages" and "targeted group," aligning them with the federal definitions in the Internal Revenue Code.

Statutes affected:
Introduced Version: 43-222, 43-1080, 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