HCR 2057 Summary

• Establishes a requirement that any new transaction privilege or use tax deduction or exemption enacted by the legislature must include a specific repeal date of December 31 of the seventh full calendar year following enactment.

• Modifies numerous existing tax deductions and exemptions to include automatic repeal dates of December 31, 2019, unless the legislature extends them by majority vote.

• Requires any new individual or corporate income tax credit enacted by the legislature to include a specific review year (fifth full calendar year after enactment) and a repeal date (December 31 of the seventh full calendar year after enactment).

• Applies sunset provisions to existing tax credits including those for research activities, employment, pollution control, solar energy, renewable energy production, school donations, and various other credits, with most set to expire December 31, 2019.

• Proposes submission of these tax policy changes to Arizona voters as a ballot measure at the next general election.