AZ SB1438

Amends Arizona Revised Statutes section 42-13355 regarding the valuation and assessment of clean rooms used in semiconductor manufacturing, processing, fabrication, or research and development as tangible personal property.

Defines "clean room" as property that creates an environment with precisely controlled humidity, temperature, particulate matter, and contamination levels, including integrated systems, fixtures, piping, movable partitions, lighting, and equipment necessary to control environmental conditions or manufacturing tolerances.

Clarifies that clean room assets include production machinery and equipment operating within the clean room environment.

Specifies that clean rooms do not include the building itself or permanent, nonremovable building components that house the clean room environment.