AZ HB2061

Requires the Department of Revenue to estimate additional transaction privilege and use tax revenue collected from out-of-state retailers under a qualifying federal law during the first full taxable year of collection.

Directs the department to determine individual income tax rate reductions for the following taxable year that would offset the estimated additional tax revenue, calculated proportionally across each income tax bracket based on the prior year's collections.

Requires the department to certify the estimated revenue and proposed tax rate reductions to the governor, speaker of the house, and president of the senate, with new rates taking effect in the taxable year following certification.

Defines "qualifying federal law" as any federal law expanding Arizona's authority to require out-of-state retailers to collect and remit transaction privilege and use taxes on purchases by state residents.

States legislative intent that the act not be construed as support for or opposition to the Marketplace Fairness Act or similar federal legislation.