AZ HB2255

Requires the Arizona Commerce Authority to publish an annual report beginning January 1, 2022, posted on its website, containing information about qualified investors who received tax credits, amounts of qualified investments, number of businesses receiving investments, employee counts in Arizona, and descriptions of qualified investor assets in the state.

Maintains existing tax credit provisions for qualified investors making investments in qualified small businesses, with rates of 12% for rural or bioscience businesses and 10% for other qualified small businesses over three taxable years.

Establishes application requirements for qualified investors, including submission within 90 days of investment, with authority review and determination within 90 days of receipt.

Limits tax credit authorizations: caps at $20,000,000 through June 30, 2017, then $2,500,000 annually through June 30, 2021, with no new authorizations after that date.

Defines qualified small businesses as entities maintaining Arizona operations with at least two principal full-time equivalent state resident employees, total assets not exceeding $10,000,000 (after December 31, 2011), and exclusions for human cloning or embryonic stem cell research activities.