AZ SB1800

Imposes an additional 2.6% income tax on Arizona taxpayers with federal adjusted gross income exceeding $1,000,000, effective for taxable years beginning after December 31, 2026

Creates the K-12 Infrastructure Fund to receive revenues from the additional tax, with monies continuously appropriated for public school buildings and building renewal

Exempts taxpayers from the additional tax if they paid transaction privilege and use tax equal to or exceeding 6.2% of their federal adjusted gross income during the taxable year

Requires the Department of Revenue to adjust the exemption percentage every five years starting in 2031, based on median quintile tax data from a nonpartisan tax policy organization

Requires a two-thirds vote of each legislative house for enactment under Arizona Constitution Article IX, Section 22