Bill > HB2939

This bill modifies existing Arizona law to adjust the calculation of tax credits for businesses that expand or locate a "qualified facility" in the state, which generally refers to businesses involved in manufacturing, headquarters operations, or research that meet specific revenue and employment criteria. The key changes involve increasing the potential tax credit amount per net new full-time employment position for projects with significant capital investments of $2 billion or more, specifically adding a higher credit amount of $250,000 per position for such projects located in a "rural location," defined as areas within tribal lands, cities or towns with populations under 50,000, or counties with populations under 800,000. These adjustments are made to sections of Arizona Revised Statutes related to income tax credits for qualified facilities, impacting how the credit is calculated and applied.

Business and Industry

https://apps.azleg.gov/BillStatus/BillOverview/84990