HB 2263 Summary

• Amends sections 42-5010 and 42-5155 of Arizona Revised Statutes to modify transaction privilege and use tax rates related to education funding.

• Adds a six-tenths of one percent additional tax rate increment on persons engaging in business classifications listed in section 42-5010, subsection A, paragraph 1, contingent on voter approval at a statewide general election.

• The additional tax rate increment applies to the use tax under section 42-5155 at the same rate, also subject to voter approval.

• Requires affirmative vote of at least three-fourths of the members of each house of the legislature for the amended sections to become effective, per Arizona Constitution article IV, part 1, section 1.