AZ HB2407

Amends Arizona law to prohibit cities and towns from levying transaction privilege, sales, use, franchise or similar taxes on the provision, furnishing, transmitting or delivery of electricity, gas or water to customers outside the corporate boundaries of the taxing jurisdiction.

Requires that any increase in the nominal tax rate on any business classification or class of taxpayers must apply equally to all classes of taxpayers subject to the tax.

Requires the Arizona Corporation Commission to approve any increase in the nominal tax rate imposed on public service corporations before it may take effect.

Removes outdated exemptions for lake facility developments in commercial enhancement reuse districts (expired December 31, 2009) and renumbers remaining exemptions accordingly.

Applies all requirements regardless of whether a city or town has adopted the model city tax code.