AZ SB1281

Amends Arizona Revised Statutes Section 42-12009 to modify the definition of "class nine" property for property tax purposes.

Changes language from "primarily" to "exclusively" for improvements on public property used for athletic, recreational, entertainment, artistic, cultural or convention facilities to qualify for class nine classification.

Changes "activities" to "facilities" when describing the use requirements for class nine property classification.

Adds requirement that improvements "are required to" become property of the federal, state, county or municipal owner upon termination of leasehold interest, rather than current language.

Maintains that all class nine property is subject to valuation at full cash value.