AZ HB2328

Freezes the Arizona corporate income tax rate at 5.5 percent for taxable years beginning after December 31, 2015, eliminating the previously scheduled reduction to 4.9 percent.

Repeals the planned further reduction to 4.9 percent that was set to take effect for taxable years beginning after December 31, 2016.

Applies retroactively to taxable years beginning from and after December 31, 2016.

Requires an affirmative vote of at least two-thirds of the members of each house of the legislature for enactment and takes effect immediately upon the governor's signature or upon a three-fourths vote in each house if vetoed.