AZ SB1493

Freezes the corporate income tax rate at 6 percent of net income (minimum $50) for taxable years beginning after December 31, 2017, unless the statewide high school graduation rate reaches 95 percent or higher in the preceding school year.

Requires the Superintendent of Public Instruction to determine annually whether the statewide high school graduation rate met the 95 percent threshold and report findings to the Governor, Director of Revenue, Senate President, and House Speaker by December 1.

Suspends the application of the standard corporate income tax rates prescribed in section 43-1111 in favor of the 6 percent freeze rate contingent on the educational outcome benchmark.