SB 1687 Summary

• Repeals section 43-1081.01 (agricultural pollution control equipment tax credit) effective for taxable years beginning in 2023.

• Requires qualified facilities receiving tax credits under sections 43-1083.03 and 43-1164.04 to report annually to the Arizona Commerce Authority by March 1 on employee numbers, compensation by job classification, and capital expenditures.

• Requires the Arizona Commerce Authority to report annually to the Joint Legislative Budget Committee by May 1 with compiled data on employees hired, compensation information, and capital expenditures for all qualified facilities.

• Requires grant recipients under article 1545.03 to report compensation and benefit information, including median annual wages by job classification, for each employment position required for grant eligibility.

• Requires taxpayers claiming agricultural water conservation system credits under section 43-1084 to report annually on water usage reductions, with the Department of Revenue reporting comparative state data to the legislature.

• Requires a two-thirds majority vote in both legislative houses for enactment and references the short title as the "Tax Incentive Accountability and Reporting Act (TIARA)."