AZ HCR2040

Proposes amending Arizona Constitution Article IX by adding Section 22.1 to require a two-thirds affirmative vote in both houses of the legislature to enact measures that decrease state revenues.

Applies to measures that enact new tax expenditures, increase existing tax expenditures, expand the number of taxpayers eligible for tax expenditures, or reduce any tax rate.

Defines "tax expenditure" as any tax provision exempting persons, income, goods, services or property from established taxes, including deductions, subtractions, exclusions, exemptions, allowances and credits.

Excludes from the supermajority requirement any tax provisions that prevent unintended consequences from technical requirements or that reflect requirements of the U.S. or Arizona constitutions.

If governor vetoes a measure meeting these criteria, it requires a three-fourths affirmative vote in both houses to override the veto and become effective.