HB 2478 Summary

• Amends Arizona Revised Statutes Section 42-12009 to modify the classification of Class Nine property for property tax purposes.

• Changes language from "primarily" to "exclusively" for athletic, recreational, entertainment, artistic, or cultural facilities located on government property and leased by private parties.

• Adds a new category (subsection 6) for improvements on federal, state, county, or municipal property used primarily for convention activities that become government property upon lease termination.

• Applies full cash value valuation to all Class Nine property classifications.

• Effective date: May 14, 2012 (signed into law by Governor).