AZ SB1468

Establishes certification for international operations centers through the Arizona commerce authority, requiring minimum annual capital investments of $100 million for 10 consecutive years and a total investment of $1.25 billion within 10 years.

Provides utility tax relief for certified international operations centers by exempting electricity and natural gas purchases from transaction privilege tax under sections 42-5063, 42-5159, and 42-6012.

Allows international operations centers to qualify for renewable energy investment tax credits of up to $5 million per year for five years per facility, with a cumulative limit of $25 million per taxpayer, requiring minimum $100 million investment in renewable energy facilities within three years.

Requires certified centers to maintain detailed records of capital investments and utility relief, with authority to revoke certification if investment thresholds are not met; operators can avoid revocation by repaying utility relief received in shortfall years.

Effective from June 30, 2015 for utility relief provisions; renewable energy credit provisions apply retroactively to taxable years beginning after December 31, 2014.