AZ SB1217

Amends section 43-1088 of Arizona Revised Statutes to modify the charitable contribution income tax credit for qualifying charitable organizations.

Allows taxpayers to apply charitable contributions made on or before the 15th day of the fourth month following the close of a taxable year to either the current or preceding taxable year.

Increases tax credit limits for contributions to qualifying foster care charitable organizations from $200/$400 to $400/$800 for single individuals/heads of household and married couples filing jointly, respectively.

Maintains existing requirements that qualifying charitable organizations must be tax-exempt under section 501(c)(3), spend at least 50% of budget on services to low-income residents or those with chronic illnesses/disabilities, and not provide or financially support abortion services.

Applies retroactively to taxable years beginning after December 31, 2015.