AZ HCR2024

Establishes automatic repeal dates for new transaction privilege and use tax deductions and exemptions enacted by the legislature, set to expire December 31 of the seventh full calendar year following enactment.

Eliminates specified existing tax deductions and exemptions (sections 42-5061, 42-5062, 42-5063, and others) for taxable periods beginning after December 31, 2020, unless the legislature extends the date.

Revises the income tax credit review schedule for the joint legislative income tax credit review committee, with reviews occurring in years ending in 0, 1, 2, 3, 4, 5, 6, 7, 8, and 9.

Requires new income tax credits to include a specific review year (fifth full calendar year after enactment) and a specific repeal date (December 31 of the seventh full calendar year after enactment), while allowing taxpayers to continue applying carryforward amounts.

Submits the proposition to voters at the next general election per Arizona Constitution article IV, part 1, section 1.