AZ HB2625

Increases the transaction privilege tax (TPT) rate for mining classification from 3 and one-eighth percent to 4 and one-eighth percent of the tax base.

Increases the severance tax rate on mining operations from 2.5 percent to 3.5 percent of the net severance base.

Requires an affirmative vote of at least two-thirds of both houses of the legislature for enactment, consistent with Arizona constitutional requirements for tax increases.

Makes the changes effective immediately upon the governor's signature or upon a three-fourths vote override if the governor vetoes the legislation.