SB 1482 Summary

• Establishes Arizona's participation in an interstate compact to prohibit states from offering company-specific tax incentives or grants to businesses relocating from other member states.

• Defines "corporate giveaway" as any company or industry-specific disbursement of funds, property, or deferred tax liability by state or local government to particular companies.

• Prohibits member states from using state-level company-specific tax incentives or grants as inducements for businesses to relocate their facilities, though local incentives and workforce development grants are excluded.

• Creates a national board composed of appointees from each member state's governor to annually review and recommend improvements to the compact agreement, with enforcement delegated to each state's chief law enforcement officer.

• Allows any state or the District of Columbia to join the compact and permits withdrawal with six months' notice; provides private right of action for taxpaying residents to enforce compliance.