This bill proposes amendments to sections 41-1512, 43-1083.03, and 43-1164.04 of the Arizona Revised Statutes, specifically relating to income tax credits. The current law, which includes provisions for tax credits based on qualifying investments and job creation, will see the deletion of the word "Either" in multiple instances, replaced with "any of the following." Additionally, the language regarding the tax credit for net new full-time employment positions associated with qualified facilities in rural locations will be clarified and standardized across the relevant sections.

Furthermore, the bill introduces a new provision stating that these amendments will apply to taxable years beginning from and after December 31, 2026. This change aims to ensure that the updated tax credit structure is implemented in a timely manner, allowing for better planning and compliance by affected entities.

Statutes affected:
Introduced Version: 43-1083.03, 43-1164.04, 41-1512, 42-2003, 32-725, 43-105, 42-1118, 42-1122, 42-1108, 43-1074