AZ HB2232

Increases the tax credit for single individuals and heads of household from $200 to $500 for contributions to public schools for extracurricular activities or character education programs.

Changes the married filing jointly limit from $400 (in tax years 2006-2015) to $1,000 starting in tax year 2016 and thereafter.

Allows taxpayers to apply contributions made on or before the 15th day of the fourth month following the close of the taxable year to either the current or preceding taxable year.

Maintains the ability to carry forward unused tax credits for up to five consecutive taxable years if the credit exceeds taxes owed.

Preserves existing reporting requirements for public schools receiving contributions and the definitions of eligible extracurricular activities and character education programs.