SB 1830 Summary

• Establishes a new tax credit (section 43-1181) for corporations donating real property and improvements to school districts or charter schools, equal to 30% of the property's fair market value.

• Property must be located in Arizona, conveyed unencumbered in fee simple, and restricted by deed covenant to use only as a school or school site.

• Allows unused credits to carry forward for up to five consecutive taxable years and prohibits donors from claiming the federal charitable deduction under Internal Revenue Code section 170.

• For charter school donations, requires a recorded lien on the property that is enforceable by the state treasurer and extinguished after 10 years or upon payment of the credit amount.

• Applies retroactively to taxable years beginning December 31, 2019, and adds the credit to the joint legislative income tax credit review schedule for years ending in 2 and 7.