AZ HB2478

Increases the annual tax credit for contributions to public school extracurricular activities and character education programs from $200 to $300 for single filers and heads of household starting in taxable year 2014.

Increases the annual tax credit for married couples filing jointly from $400 to $600 starting in taxable year 2014.

Changes the contribution deadline from during the taxable year to on or before April 15 of each year for the next preceding taxable year.

Extends the carryforward period for unused tax credits from five consecutive taxable years to allow credits to be applied to future tax liability.

Changes the school reporting deadline from February 28 to on or before June 15 of each year for reporting fees and contributions received and spent.