AZ SB1328

Establishes a joint legislative income tax credit review committee consisting of five House members and five Senate members appointed by leadership, with no more than three appointees from the same political party.

Committee shall meet at least annually and review tax credits according to a schedule, evaluating whether credits should be amended, repealed, or retained based on original purpose, state benefits, and administrative complexity.

Committee must report findings and recommendations to legislative leadership and the governor by December 15 of the review year, with reports provided to the secretary of state.

New individual or corporate income tax credits enacted by the legislature must include a specific review year (no later than the fifth full calendar year after enactment) and a specific repeal date (after December 31 of the review year).

New tax credits must include a purpose clause explaining the rationale and objectives of the credit.