AZ HB2450

Amends section 42-5071 of Arizona Revised Statutes to add a new exemption from transaction privilege tax for leasing or renting billboards designed to advertise or inform and visible from any street, road, or highway.

Makes the billboard rental exemption retroactively applicable from December 31, 2007 forward.

Establishes a September 30, 2015 deadline for taxpayers to file refund claims for transaction privilege or use taxes paid on billboard rentals after December 31, 2007, with failure to file by this date constituting a waiver of the refund claim.

Caps the aggregate amount of refunds under this provision at $10,000 and requires refunds to be paid in the order claims are received by the Department of Revenue.

Allows interest on refunds only if the amount cannot be determined or paid until after March 1, 2016, with interest accruing after that date under existing statute.