AZ HB2757

Establishes joint legislative tax exemption review committee to review transaction privilege and use tax exemptions under a ten-year schedule using the same standards applied to income tax credits.

Requires the committee to determine original purpose of tax exemptions, evaluate their effectiveness, and report recommendations to legislative leaders and governor by December 15 of each review year.

Reorganizes income tax credit review schedule from a 5-year cycle (years ending 0-9) to a 10-year cycle (years ending 1-0) with specific credits assigned to each year.

Requires new income tax credits enacted by legislature to include a specific review date (fifth full calendar year after enactment) and a purpose clause explaining the credit's rationale and objective.

Directs the committee to compile and adopt the ten-year transaction privilege tax exemption review schedule on or before December 15, 2022.