AZ SB1455

Establishes the Education Transformation Fund within the Department of Education to provide funding to public schools for transformative educational practices, student academic performance improvements, and technology/software purchases.

Creates a 50% corporate income tax credit for taxpayers contributing to the Education Transformation Fund, with a combined aggregate cap of $25 million annually across all credits under this section and the insurance premium tax credit.

Creates a 50% insurance premium tax credit for insurers contributing to the Education Transformation Fund, with credits processed on a first-come, first-served basis requiring pre-approval by the Department of Revenue.

Requires the Department of Education to allocate a minimum of 80% of fund revenues to public schools implementing transformative practices, with at least 50% of allocated funds directed to schools with "D" or "F" letter grades.

Allows taxpayers to carry forward unused tax credits for up to five consecutive years if the credit exceeds tax liability in the current year.