Bill > SB1516

This bill makes several changes related to aircraft registration and tax exemptions. It amends existing law to exempt "always hangared aircraft" from registration requirements, defining this as an aircraft stored in a hangar and not flown. Additionally, it establishes a process for verifying significant capital investments in aviation maintenance facilities, requiring businesses to file certifications with the Arizona Commerce Authority (ACA), and the ACA will notify the Department of Revenue once a threshold of $150 million in investments is met. This verification process is tied to specific tax deductions for aircraft repair and maintenance services, with the exemptions becoming effective after the ACA provides notice. The bill also repeals an older version of a tax exemption statute and makes conforming changes to other tax-related sections.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/85119