HB 2183 Summary

• Amends the school tuition organization (STO) tax credit under Arizona Revised Statutes Section 43-1183 to modify the annual increase calculation for the aggregate tax credit cap beginning in fiscal year 2018-2019.

• Changes the annual cap increase from a fixed 20 percent to the greater of either: the percentage increase in the metropolitan phoenix consumer price index or 2 percent.

• Maintains the existing $10 million combined aggregate cap for STO tax credits and insurance company tax credits under Section 20-224.06, with annual adjustments applied to this base amount.

• Applies retroactively from and after June 30, 2018.