AZ SB1685

Requires persons receiving tax incentives under Arizona Revised Statutes Title 41, Chapter 10, Article 1 to report total capital expenditures made in Arizona to the Arizona Commerce Authority by March 1 of each year

Directs the Arizona Commerce Authority to consolidate reported information and submit a consolidated report to the joint legislative budget committee by May 1 of each year

Defines "capital expenditures" as expenditures to acquire, lease, or improve property used in business operations, including land, buildings, machinery, equipment, fixtures, and supplies and materials used for property improvements

Defines "tax incentive" as any exemption, in whole or in part, from taxes and classifications, including deductions, subtractions, exclusions, exemptions, allowances, and credits