summary
Introduced
01/27/2025
01/27/2025
In Committee
Crossed Over
Passed
Dead
06/27/2025
06/27/2025
Introduced Session
Fifty-seventh Legislature - First Regular Session (2025)
Bill Summary
AN ACT amending section 43-222, Arizona Revised Statutes; amending title 43, chapter 10, article 5, Arizona Revised Statutes, by adding section 43-1073.02; relating to individual income tax credits.
AI Summary
This bill establishes a new earned income tax credit (EITC) for Arizona taxpayers who qualify for the federal Earned Income Tax Credit under section 32 of the Internal Revenue Code. The credit provides a fixed amount of $350 for eligible individuals, with several key provisions: only one claim per household per year is allowed, taxpayers must file a claim form with their tax return (or certify no tax liability if below filing requirements), and if the credit amount exceeds the taxpayer's tax liability, the excess will be refunded. The bill specifies that this credit is intended to provide an economic benefit to low-income persons and families in Arizona, and it will apply retroactively to taxable years beginning after December 31, 2024. Additionally, the bill amends the existing income tax credit review schedule to include this new earned income tax credit in the periodic review cycle conducted by the joint legislative income tax credit review committee.
Committee Categories
Budget and Finance
Sponsors (9)
Consuelo Hernandez (D)*,
Leo Biasiucci (R),
Tim Dunn (R),
Alma Hernandez (D),
Lydia Hernandez (D),
Teresa Martinez (R),
Tony Rivero (R),
T.J. Shope (R),
Myron Tsosie (D),
Last Action
House read second time (on 01/28/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.azleg.gov/BillStatus/BillOverview/82618 |
| Fiscal Note - FISCAL NOTE: As Introduced | https://apps.azleg.gov/BillStatus/GetDocumentPdf/523417 |
| BillText | https://www.azleg.gov/legtext/57leg/1r/bills/hb2685p.htm |
Loading...