AZ SB1169

Adds Article 7 to Title 42, Chapter 1 of Arizona Revised Statutes establishing conditions for suspending certain tax credits and rate reductions.

Defines a "trigger event" as occurring when any one of three conditions is met: per-student K-12 state spending reaches the median of all fifty states, at least 94% of third-grade students read at grade level, or the high school graduation rate reaches 93% or higher.

Requires the Superintendent of Public Instruction to determine annually whether a trigger event has occurred and report findings to the governor, Department of Revenue director, Senate President, and House Speaker by December 1.

Until a trigger event occurs, maintains the assessed valuation of class one property at 18.5% of full cash value and maintains corporate income tax at 6% of net income or $50, whichever is greater.

Ensures that disallowance of tax credits under this section does not affect carryover of tax credits from prior years.