AZ SB1359

Freezes the corporate income tax rate at 6% (or $50, whichever is greater) unless the statewide high school graduation rate reaches at least 95% in any preceding school year.

Requires the superintendent of public instruction to determine annually whether the 95% graduation rate goal has been achieved following each fiscal year.

Mandates the superintendent report findings to the governor, director of the department of revenue, president of the senate, and speaker of the house of representatives by December 1 each year.

Applies to taxable years beginning after December 31, 2018, replacing the standard corporate income tax rates prescribed in existing statute.