AZ SB1212

Amends Arizona's capital investment tax credit program by modifying the certification cap structure for tax credits authorized by the Arizona Commerce Authority.

Establishes a two-tier cap system: through June 30, 2017, the authority cannot certify credits exceeding $20 million total; from July 1, 2017 through June 30, 2021, the authority may certify an additional $2.5 million per fiscal year plus any unused credit capacity carried over from prior years.

Allows expired or unused tax credits to count toward the applicable dollar limit, and credits applications on a first-come, first-served basis when applications would exceed the dollar cap.

Sunsets the entire capital investment tax credit program on June 30, 2021, after which the authority cannot authorize new tax credits.

Makes technical corrections to language throughout the statute, including changing "per cent" to "percent" and "of" to "after" in various provisions.