AZ SB1134

Amends the joint legislative income tax credit review committee's evaluation standards to include a new criterion assessing whether adequate protections exist to prevent the fiscal impact of tax credits from substantially exceeding original projections.

Requires committee members to be appointed from the House Ways and Means Committee (5 members via Speaker) and Senate Finance Committee (5 members via President), with no more than 3 appointees from the same political party.

Directs the committee to review tax credits on a schedule, determine whether credits should be amended, repealed or retained, and report findings to legislative leadership and the governor by December 15 of the review year.

Specifies that if a credit is retained or amended, the next review shall occur in the fifth full calendar year following the review date.

Establishes that the committee terminates on July 1, 2022 pursuant to automatic sunset provisions.