This bill proposes several updates to the Arizona Revised Statutes regarding income tax credits, specifically by amending sections 43-222 and 43-323, and adding a new section, 43-1073.02. The bill introduces a new income tax credit for taxpayers with qualifying children, allowing $2,000 for single individuals or heads of households and $4,000 for married couples filing jointly. It also establishes criteria for eligibility, including residency requirements and income thresholds based on the federal poverty level, which will determine the percentage of the credit that can be claimed.

Additionally, the bill removes outdated language, such as the deletion of section 43-1075 and the modification of existing sections to include the new section 43-1073.02. It also specifies documentation requirements for taxpayers claiming the credit, including proof of pregnancy, completion of a parenting education course, and income verification. The intent of the bill is to support families and encourage full-term pregnancies, as stated in the legislative findings.

Statutes affected:
Introduced Version: 43-222, 43-323, 43-1073.02, 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, 43-1012, 43-1041, 43-1072, 43-1072.01, 43-1021, 43-1022, 43-1023, 43-309