HCR 2018 Summary

• Submits a measure to voters for approval that would extend a 0.6% temporary transaction privilege tax (TPT) rate increment on retail and certain service classifications beyond the current June 30, 2021 expiration date.

• The additional tax rate applies to businesses in classifications listed under section 42-5010, including retail, restaurants, amusement, and personal property rental, generating revenues designated for education funding under section 42-5029, subsection E.

• Applies the same 0.6% rate increment to use tax under section 42-5155 for tangible personal property purchased from retailers or utility businesses.

• Modifies statutory language to correct grammar and terminology in sections 42-5010 and 42-5155 (e.g., changing "per cent" to "percent" and "which" to "that").

• Requires submission of the measure to Arizona voters at the next statewide general election for approval before implementation.