AZ SB1078

Repeals section 41-1512 (Arizona Commerce Authority reporting requirements) and repeals income tax credit sections 43-1080, 43-1083.03, 43-1164.04, and 43-1169 relating to facilities and qualified business property.

Amends section 42-2003 to remove Arizona Commerce Authority's authority to access confidential taxpayer information for purposes of qualifying businesses with qualified facilities for income tax credits under the repealed sections.

Updates section 43-222 to remove references to the repealed income tax credits from the joint legislative income tax credit review schedule.

Makes conforming amendments to sections 43-1021, 43-1022, 43-1029, 43-1121, and 43-1130.01 to delete additions and subtractions to income related to property qualifying for the repealed credits.

Includes a saving clause preserving the validity of income tax credits carried forward from prior taxable years and requires a two-thirds legislative vote for enactment pursuant to Arizona Constitution article IX, section 22.