AZ HB2053

Allows taxpayers to claim an income tax credit for the fair market value of privately owned Arizona land that the federal government uses to construct an international boundary wall.

Credit amount equals the fair market value of the land portion used for wall construction, as determined by an appraisal under Arizona Revised Statutes section 32-3601, paid for by the taxpayer.

Co-owners must claim only their pro rata share of the credit based on ownership interest; total credits cannot exceed what a sole owner would receive.

Allows taxpayers to carry forward unused credits to offset income tax liability for up to five consecutive taxable years if the credit exceeds taxes otherwise due.

Adds sections 43-1080 and 43-1169 to the Arizona tax code for individual and corporate taxpayers respectively, and updates the income tax credit review schedule to include these new credits for review in years ending in 0 and 5.