AZ HB2834

Creates economic development improvement programs allowing counties, cities, and towns to establish certified projects eligible for property tax incentives in designated areas.

Requires projects to meet minimum capital investment thresholds ranging from $1 million to $35 million depending on jurisdiction population, with limits on the number of projects per year.

Classifies certified project property as Class Six for property tax purposes, assessed at full cash value, with certification valid for ten years and renewable if criteria continue to be met.

Mandates annual reporting by municipalities on certified projects including job creation, wages, infrastructure costs, and estimated tax savings, with reports submitted to the authority and county assessor.

Requires property ownership changes to trigger recertification; uncertified projects lose Class Six classification and associated tax incentives.