This bill proposes several updates to the Arizona Revised Statutes regarding individual income tax credits. It introduces a new section, 43-1080, which establishes a tax credit for taxpayers with qualified children, specifically those five years of age or younger who receive certified child care services. The credit amount is tiered based on the taxpayer's federal adjusted gross income, allowing $2,000 for incomes of $75,000 or less and $1,000 for incomes between $75,000 and $150,000. Additionally, the bill stipulates that if the credit exceeds the taxpayer's tax liability, the excess will be refunded, and the total credits authorized cannot exceed $15,000,000. The bill also modifies existing statutes by removing references to section 43-1075 and section 43-1165, while adding section 43-1080 to the list of applicable sections for tax credits. Furthermore, it expands the eligibility criteria for taxpayers opting not to file for certain credits to include section 43-1080. Overall, the bill aims to support working families in accessing quality child care through financial incentives.

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