HB 2339 Summary

• Establishes a new income tax credit for Arizona residents who are members of the state militia, effective for taxable years beginning after December 31, 2010.

• Credits equal the state transaction privilege tax paid on up to 100 rounds of ammunition (same caliber) purchased by the taxpayer plus up to 100 rounds for each dependent who is a militia member.

• Requires taxpayers to submit documentary evidence of militia membership and sales receipts verifying ammunition purchases and transaction privilege taxes paid with their income tax return.

• Credit cannot exceed the taxpayer's total tax liability after subtracting all other applicable credits under the income tax chapter.

• Adds section 43-1072.02 to the Arizona Revised Statutes and schedules the credit for review in years ending in 0 and 5.