AZ HB2660

Extends the repeal date of Arizona's affordable housing tax credit program from December 31, 2025 to December 31, 2030, allowing the program to continue for five additional years.

Changes the method for calculating state tax credits from "at least fifty percent of the federal low-income housing credit" to "the amount determined by the department" based on economic feasibility of qualified projects.

Increases annual tax credit allocation limits from $4,000,000 (2022-2025) to $10,000,000 (2026-2030), with credits allocated in calendar year 2026 not claimable until federal fiscal year beginning October 1, 2027.

Removes the prohibition on qualified projects receiving property tax abatements, exemptions, or other reductions in state or local ad valorem property taxes.

Applies to premium tax credits (section 20-224.04), income tax credits (sections 43-1075 and 43-1163), and the allocation process administered by the Arizona Department of Housing (section 41-3954).