AZ HB2027

Amends section 41-1525 to allow the Department of Revenue to share confidential business information with the Arizona Commerce Authority for the annual report of corporate tax credits required by the new section 42-1131.

Creates a new annual reporting requirement (section 42-1131) beginning in 2017 for the Department of Revenue to report on corporations claiming or carrying forward authorized tax credits of $5,000 or more, including aggregate credit amounts, carryforward balances, and individual corporation names and credit amounts.

Requires the Department of Revenue to transmit the corporate tax credit report to the Governor, President of the Senate, Speaker of the House of Representatives, and relevant committee chairpersons, and the Secretary of State.

Amends section 42-2003 to authorize disclosure of the annual corporate tax credit report as statistical information that may be publicly disclosed without violating tax confidentiality laws.

Makes technical corrections to statutory language regarding grammar and terminology throughout the amended sections.