SB 1749 - Taxation Omnibus Bill

• Adds "wastewater" to the list of substances that can be transported through exempt pipes or valves in Arizona's transaction privilege tax and use tax classifications.

• Increases the personal property tax exemption limit from $207,366 to $500,000 of full cash value for agricultural property and certain business personal property, with annual adjustments based on employment cost index.

• Restructures property tax exemptions for veterans with disabilities into three categories: 100% service-connected disability receives full exemption; other veterans with 100% or less nonservice-connected disability or less than 100% service-connected disability receive up to $4,188 (adjusted by disability percentage); and widows/widowers/disabled persons receive up to $4,188 with income limits.

• Increases adoption cost tax subtraction from $3,000 to $5,000 for single/head of household filers and $10,000 for married couples filing jointly, effective for tax years beginning after December 31, 2025.

• Extends the deadline for public school fee and contribution tax credit to include certain eligible expenses through June 30, 2029 (previously June 30, 2024).