AZ HB2369

Establishes a state earned income tax credit equal to 5% of the federal earned income tax credit allowed under Internal Revenue Code section 32 for qualifying individuals.

Allows only one claimant per household per taxable year to claim the credit, which must be filed with the income tax return or on a claim form for those with no tax liability.

Excess credit amounts exceeding tax liability, after applying other credits and setoffs, are refunded to the taxpayer in the same manner as income tax refunds under section 42-1118.

Adds the new earned income tax credit to the joint legislative income tax credit review schedule for years ending in 2 and 7.

Applies retroactively to taxable years beginning after December 31, 2021.