AZ HB2644

Establishes a state affordable housing tax credit program administered by the Arizona Department of Housing for projects qualifying for federal low-income housing tax credits placed in service after June 30, 2027.

Allocates $10,000,000 annually in tax credits for calendar years 2027 through 2031, with unused balances rolling over to the following year.

Credits can be claimed against insurance premium taxes or individual/corporate income taxes, with unused credits carried forward up to five consecutive years.

Creates a nine-member Affordable Housing Tax Credit Review Committee to evaluate the program's effectiveness every three years, including economic impact and number of housing units generated.

All provisions automatically repeal December 31, 2031, though credits reserved before that date remain valid for redemption.