AZ SB1629

Establishes a joint legislative income tax credit review committee with five members each from the House and Senate finance committees, appointed by legislative leaders with balanced party representation.

Requires the committee to meet at least annually and review existing tax credits using standards that evaluate the credit's original purpose, economic benefits to Arizona, and administrative complexity.

Mandates that all new individual or corporate income tax credits enacted by the legislature include a specific review year (not later than five full calendar years after enactment) and a specific repeal date (on or after December 31 of the review year).

Requires the committee to report findings and recommendations by December 15 of the review year to the president of the senate, speaker of the house, and governor; legislative council staff shall prepare proposed legislation based on committee recommendations.

Sets the termination date of the review committee for July 1, 2022 pursuant to the automatic termination provisions of Arizona law.