AZ SB1030

Establishes a joint legislative tax expenditure review committee to evaluate transaction privilege and use tax exemptions, deductions, and credits under a ten-year review schedule, with recommendations due by December 15 of each review year.

Expands the scope of the existing joint legislative income tax credit review committee to include all tax expenditures under title 42, chapter 5 (transaction privilege taxes) and chapters 10-11 (income taxes), renaming it the "joint legislative tax expenditure review committee."

Requires the review committee to evaluate tax expenditures based on original purpose, history, rationale, revenue impact, measurable economic benefits, job creation/retention, and application complexity.

Adds new section 42-5042 requiring the same sunset review standards for transaction privilege and use tax expenditures as applied to income tax credits.

Modifies section 42-2003 to permit disclosure of tax expenditure information to the department of education for verifying low-income student status under section 15-2402 and reorganizes the income tax credit review schedule by fiscal year into a ten-year rotating cycle.