AZ HB2399

Establishes a joint legislative tax expenditure review committee to evaluate all tax expenditures under transaction privilege and use taxes using the same standards applied to income tax credits.

Requires the committee to adopt and follow a ten-year review schedule for transaction privilege tax expenditures and report recommendations to legislative leadership and the governor by December 15 of each review year.

Expands the definition of "tax expenditure" to include exemptions, deductions, subtractions, exclusions, allowances and credits that reduce the impact of established taxes in both transaction privilege/use tax and income tax contexts.

Reorganizes and renames the "Joint Legislative Income Tax Credit Review Committee" to the "Joint Legislative Tax Expenditure Review Committee" to reflect its expanded scope beyond just income tax credits.

Permits the Department of Revenue to disclose confidential tax information to the joint legislative tax expenditure review committee and its staff to support the review and reporting requirements.