Bill > SB1496

This bill modifies Arizona's tax credit for contributions to qualifying charitable organizations by making several key changes. It maintains existing tax credit provisions that allow individuals and married couples to claim credits for cash contributions to charitable organizations, with separate limits for general charitable organizations and foster care charitable organizations. The bill updates definitions and requirements for qualifying charitable organizations, including specifying that organizations must direct or spend at least 50% of their budget on services to low-income residents, people receiving temporary assistance, or individuals with chronic illnesses. The bill clarifies what constitutes "services," expanding the definition to include items like behavioral health services, character education programs, job training, and workforce development programs. It also reinforces that qualifying organizations cannot provide, pay for, or support abortions. The bill mandates that charitable organizations provide written certification to the state detailing their financial data, service focus, and compliance with requirements. Additionally, the bill allows for annual adjustments to credit dollar amounts based on the Phoenix metropolitan consumer price index and permits taxpayers to carry forward unused credits for up to five consecutive tax years. The changes aim to provide more precise guidelines for tax credits while maintaining support for charitable organizations serving vulnerable populations.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/82921