SB 1073 Summary

• Establishes "green manufacturing business" certification through the Arizona Commerce Authority for enterprises in LEED-certified facilities using environmentally friendly manufacturing technologies, with minimum fixed asset investments ranging from $500,000 to $2 million depending on county and city population.

• Classifies certified green manufacturing property as Class Six for property tax assessment purposes, valued at full cash value, for twenty tax years from the date placed in service.

• Creates income tax credits for green manufacturing businesses for net increases in qualified employment positions, allowing credits of up to $500 (first year), $1,000 (second year), and $1,500 (third year) per employee, limited to 200 positions per taxpayer annually.

• Requires certified green manufacturing businesses to submit annual reports to the Arizona Commerce Authority documenting employment, wages, capital investment, and compliance with program requirements, with five-year certification periods subject to annual recertification.

• Establishes reporting deadlines and certification procedures requiring businesses to notify county assessors by December 10 annually and submit applications to the Commerce Authority by October 1 of each year.