HB 2619 Summary

• Amends tax credit provisions in Arizona Revised Statutes sections 20-224.03, 43-1074, and 43-1161 for businesses creating new qualified employment positions.

• Allows taxpayers to carry forward unused tax credits for up to five taxable years, use credits as offsets against real or personal property tax liability, or use credits as offsets against withholding tax liability.

• Maintains existing credit amounts of $3,000 per full-time employee hired in qualified employment positions for each of the first three years of continuous employment.

• Requires businesses to meet capital investment and new qualified employment position requirements within twelve months and must timely report to the Arizona Commerce Authority to remain eligible for credits.

• Clarifies that credits are subject to recovery for violations and that businesses cannot claim the same employment positions under multiple competing tax credit programs.