AZ SB1192

Increases the tax credit for contributions to public school extracurricular activities and character education programs from $200 to $400 for single individuals and heads of household.

Increases the tax credit for married couples filing jointly from $300 (in 2005) and $400 (in 2006 and after) to $800 for taxable year 2013 and subsequent years.

Requires the Department to adjust the dollar credit amounts annually beginning in 2014 based on the metropolitan Phoenix consumer price index, with adjustments rounded to the nearest dollar and never reduced below the prior year amount.

Specifies that the credit applies only to fees and contributions for extracurricular activities (such as athletic uniforms, band equipment, and competitive trip fees) and character education programs, excluding recreational or tourist activities.

Requires public schools to report annually to the Department the total number and dollar amount of contributions received and spent, categorized by specific extracurricular activity or character education program.