Bill > SB1749

This bill is an omnibus taxation measure that makes several amendments to Arizona tax laws across multiple sections. The key provisions include: Amending Section 42-5061 (Retail Classification): A minor technical change adding "wastewater" to a list of substances that can be transported through pipes. Amending Section 42-11111 (Property Tax Exemptions): Significantly restructures property tax exemptions for veterans, widows, widowers, and people with disabilities. It establishes new exemption levels based on disability ratings, with 100% disabled veterans receiving a full exemption, and introduces more detailed income and asset calculation rules. Amending Section 42-11127 (Exempt Personal Property): Increases the maximum exemption for agricultural and business personal property from $207,366 to $500,000 for each taxpayer. Amending Section 43-1022 (Income Tax Subtractions): Makes several adjustments, including increasing adoption-related expense deductions from $3,000 to $5,000 for single filers and $10,000 for married couples filing jointly. Amending Section 43-1089.01 (Public School Fees Tax Credit): Extends the period for certain public school fee tax credits from June 30, 2024, to June 30, 2029, allowing continued tax credits for various school-related expenses. The bill also includes specific applicability and effective date provisions for these changes, with most modifications applying to taxable periods beginning after the general effective date.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/83485