AZ HB2211

Amends Arizona's corporate income tax credit for contributions to school tuition organizations (STOs) to modify the annual increase mechanism for the tax credit cap beginning in fiscal year 2016-2017.

Maintains the existing $10 million aggregate tax credit cap for fiscal year 2006-2007 and implements a 20% annual increase through fiscal year 2015-2016.

Beginning in fiscal year 2016-2017, ties future increases in the tax credit cap to economic growth triggers: if both the transaction privilege tax growth rate and total nonfarm employment growth rate are each less than 2%, the cap does not increase from the previous year.

If either economic growth metric meets or exceeds 2%, the aggregate tax credit cap increases by 20% from the previous fiscal year.

Requires the Director of the Office of Strategic Planning and Budgeting and the Director of the Joint Legislative Budget Committee to jointly notify the Department of Revenue by February 1 if both growth rates fall below 2%.