AZ SB1173

Amends sections 43-1074 and 43-1161 of Arizona Revised Statutes to allow trusts and beneficiaries of trusts to claim pro rata shares of enterprise zone employment tax credits based on ownership interest, similar to existing provisions for partnerships and S corporation shareholders.

Modifies the definition of co-owners eligible to claim credits to explicitly include "trusts and beneficiaries of a trust" alongside partners and S corporation shareholders, with the total credits allowed not exceeding what a sole owner would receive.

Applies retroactively to taxable years beginning after December 31, 2008, and allows amended returns filed within 60 days of the effective date to claim credits without meeting the original return filing requirement.

Maintains existing enterprise zone employment tax credit structure with credits of one-fourth, one-third, and one-half of taxable wages for years one through three respectively, subject to specified caps.

Declared an emergency measure effective immediately upon passage.