From Ballotpedia
The Income Tax Credit Review Committee is a standing committee of the Arizona Legislature.
Function
- (1) determine the original purpose of existing tax credits;
- (2) establish a standard for evaluating and measuring the success or failure of the tax credits, which may include
- (a) the history, rationale and estimated revenue impact of the credit,
- (b) whether the credit has provided a benefit to this State including, for corporate tax credits, measurable economic development, new investments, creation of new jobs or retention of existing jobs in this State, and
- (c) whether the credit is unnecessarily complex in the application, administration and approval process;
- (3) review the individual and corporate income tax credits pursuant to the schedule prescribed in A.R.S. 43-222; and
- (4) after completing the review process, determine whether the credit should be amended, repealed or retained. The Committee shall submit a report of its findings and recommendations to the President of the Senate, the Speaker of the House of Representatives, the Governor, and the Director of the Arizona State Library, Archives and Public Records by December 15 of the year that the Committee reviews the credit.
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