AZ HB2892

Creates a new income tax credit for taxpayers who allow a family member released from a federal or state correctional facility or juvenile detention center to reside in their residence, effective for taxable years beginning after December 31, 2024.

Credit amounts are $300 for single individuals or heads of household, and $600 for married couples filing joint returns.

Married couples filing separate returns may each claim one-half of the credit that would be allowed for a joint return.

Unused tax credits may be carried forward for up to five taxable years if the credit exceeds taxes otherwise due.

Adds section 43-1080 to Arizona Revised Statutes and schedules the credit for legislative review in years ending in 3 and 8.