HB2321 Summary

• Increases the annual income tax credit cap for qualified facilities from $70,000,000 to $125,000,000 per calendar year under section 41-1512.

• Extends the deadline for Arizona Commerce Authority preapproval of qualified facility credits from December 31, 2030 to December 31, 2030 (no change to this date in the bill's main provisions).

• Modifies qualified headquarters definition to remove requirement that business be "involved in manufacturing," allowing broader eligibility for out-of-state revenue-generating entities.

• Changes qualified manufacturing definition to clarify that at least 65% of product "is" (rather than "will be") directly sold out-of-state or to other qualified facilities.

• Extends infrastructure funding program for manufacturing facilities through September 30, 2033 (previously September 30, 2023) and increases capital investment thresholds to $500,000,000 for high-population counties and $50,000,000 for lower-population counties.