SB 1139 Summary

• Amends qualified facility income tax credit provisions by requiring annual reports to the joint legislative budget committee and adding tracking of Arizona resident hires and capital expenditures to the authority's annual report.

• Modifies the agricultural water conservation system tax credit to require taxpayers to report annual water usage reductions to the department by May 15 each year.

• Requires the department of revenue to report aggregate water usage reductions from all agricultural water conservation system claimants to the joint legislative budget committee by June 15 annually.

• Requires the department to report biennial to the joint legislative budget committee on the number of states offering comparable agricultural water conservation tax credits, beginning June 15, 2021.

• Effective date: December 31, 2020.