AZ SB1474

Establishes Class Six property classification for real and personal property used to manufacture zero-sulfur gasoline from natural gas, effective December 31, 2019 through December 31, 2050.

Limits the zero-sulfur gasoline manufacturing classification to property used specifically for manufacturing, processing, and storing zero-sulfur gasoline and liquid petroleum gases from natural gas feedstock, with disqualification for unrelated commercial or industrial uses.

Defines "zero-sulfur gasoline" as gasoline and natural gas liquids made from natural gas containing less than one part per million of sulfur annually at the facility gate, excluding sulfur in compliant additives.

Amends depreciation schedules for personal property in Class Six to include property acquired during or after tax year 2017 and initially classified during or after tax year 2018 under the new gasoline manufacturing provisions.

Applies retroactively to tax years beginning from and after December 31, 2019.