HB 2115 Summary

• Prohibits taxpayers from selling or transferring tax credits allowed under specified sections of Arizona law.

• Makes any income tax credits enacted after December 31, 2023 non-refundable.

• Adds a subtraction from Arizona gross income for charter school sales, limiting the 25% capital gains subtraction by excluding net long-term capital gains from the sale of charter schools.

• Adds a subtraction for virtual currency and non-fungible tokens received through airdrops at time of receipt, excluding subsequent appreciation in value.

• Applies retroactively to taxable years beginning after December 31, 2022.