AZ SB1387

Expands the joint legislative tax expenditure review committee to review transaction privilege and use tax expenditures under Title 42, Chapter 5 in addition to income tax credits, using the same evaluation standards.

Establishes a ten-year review schedule for transaction privilege and use tax expenditures, with the committee required to adopt the schedule by December 15, 2025.

Modifies the income tax credit review schedule from a five-year cycle to a ten-year cycle, with reviews distributed across years 1-10 rather than years ending in 0-9.

Requires the committee to report findings and recommendations to the president of the senate, speaker of the house, governor, and secretary of state by December 15 of each review year.

Adds a disclosure provision allowing the department of revenue to share tax expenditure information with the joint legislative tax expenditure review committee and legislative staff for compliance with reporting requirements.