Bill Text: AZ SCR1039 | 2010 | Forty-ninth Legislature 2nd Regular | Introduced

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Bill Title: Income tax credits; mandatory sunset

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2010-02-01 - Referred to Senate FIN Committee [SCR1039 Detail]

Download: Arizona-2010-SCR1039-Introduced.html

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REFERENCE TITLE: income tax credits; mandatory sunset

 

 

 

State of Arizona

Senate

Forty-ninth Legislature

Second Regular Session

2010

 

 

SCR 1039

 

Introduced by

Senators Cheuvront: Landrum Taylor

 

 

A CONCURRENT RESOLUTION

 

Proposing an amendment to the constitution of Arizona; amending article IX, Constitution of Arizona, by adding section 25; relating to income tax credits.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it resolved by the Senate of the State of Arizona, the House of Representatives concurring:

1.  Article IX, Constitution of Arizona, is proposed to be amended by adding section 25 as follows if approved by the voters and on proclamation of the Governor:

START_STATUTE25.  Credits against income taxes; repeal

Section 25.  A.  Any credit against individual or corporate income tax liability enacted by the legislature or by initiative shall apply for not more than ten consecutive taxable years.  The legislature shall establish a schedule consistent with this section, on the affirmative vote of a majority of each house of the legislature, for the repeal of all income tax credits in effect on or enacted after the effective date of this section.  The legislature may:

1.  provide for the review and evaluation of any income tax credit before its repeal.

2.  Extend an income tax credit beyond its repeal date by enacting, on the affirmative vote of at least two-thirds of the members of each house of the legislature, a new repeal date not more than ten consecutive taxable years after the current repeal date.

B.  The requirements of this section apply regardless of any other provision to the contrary prescribed by law or other provision of this constitution. END_STATUTE

2.  The Secretary of State shall submit this proposition to the voters at the next general election as provided by article XXI, Constitution of Arizona.