AZ HB2038

Establishes mandatory sunset provisions for new transaction privilege and use tax expenditures, requiring a specific repeal date no later than December 31 of the eighth full calendar year following enactment.

Requires new individual or corporate income tax credits to include a specific repeal date no later than December 31 of the eighth full calendar year following enactment, along with a purpose clause explaining the credit's rationale and objectives.

Modifies the joint legislative income tax credit sunset review committee structure and extends its termination date to July 1, 2022, with updated procedures for reviewing and recommending whether credits should be retained, amended, or allowed to expire.

Updates income tax credit review schedules and procedures for the sunset review committee to follow a five-year rotation based on years ending in specific numbers (0-9).

Amends section 42-2003 regarding authorized disclosure of confidential tax information by the Department of Revenue, with specific reference to the joint legislative income tax credit sunset review committee.