AZ HB2191

Amends Arizona Revised Statutes section 41-1518 to modify the capital investment tax incentive program administered by the Arizona Commerce Authority.

Changes the tax credit cap structure: maintains a $20 million total cap through June 30, 2017, then allows an additional $2.5 million per fiscal year from July 1, 2017 through June 30, 2021, plus any unused credit capacity carried over from prior years.

Tax credits that expire or are not timely used by investors are included in the applicable dollar limit for future certifications.

Updates terminology throughout the statute from "per cent" to "PERCENT," "manufacture" to "MANUFACTURING," and "sale" to "SALES," and clarifies other linguistic provisions.

Maintains existing credit rates: 12% annually for rural county and bioscience businesses (first two years) and 11% (third year); 10% annually for other qualified small businesses over three years.