AZ SB1448

Eliminates the hardship tax credit provision for horse and dog racing permittees that allowed reductions in pari-mutuel taxes based on wagering decreases since fiscal years 1989-1994.

Removes language authorizing the department to reduce pari-mutuel tax licensing fees for hardship tax credits under section 5-111, subsection I.

Requires all revenues from the eliminated hardship tax credit to be redirected to trust accounts for supplementing purse amounts for dog racing in an equitable manner as determined by the commission.

Changes two instances of "per cent" to "percent" as technical corrections to existing statute language.

Requires passage by two-thirds vote in both houses of the legislature and takes effect immediately upon the governor's signature.