AZ SB1382

Establishes the joint legislative income tax credit review committee with 5 members from the House Ways and Means Committee and 5 members from the Senate Finance Committee, appointed by their respective chamber leaders.

Requires the committee to meet at least annually and to evaluate existing tax credits based on their original purpose, economic benefit to Arizona, and administrative complexity.

Mandates that all new income tax credits include a specific review year (no later than the fifth full calendar year after enactment) and a repeal date occurring after December 31 of the review year.

Requires new tax credits to include a purpose clause explaining the rationale and objectives of the credit.

Committee ends on July 1, 2022 per section 41-3103.