SB 1244
Initials AF/LV Page 1 Caucus & COW
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
First Regular Session
Senate: APPROP DP 5-4-1-0 | MAPS DPA 7-0-0-0 | 3
rd
Read 16-12-2-0
House: APPROP DPA/SE 14-1-0-0
SB 1244: appropriations; crime victim notification fund
S/E: tax credit extension; affordable housing
Sponsor: Senator Kavanagh, LD 3
Caucus & COW
Summary of the Strike-Everything Amendment to SB 1244
Overview
Increases the Affordable Housing Tax Credit (AHTC) allocation to $10,000,000 and extends the
repeal deadline to December 31, 2036.
History
The Arizona Department of Housing (ADOH) is required to procedurally evaluate affordable
housing projects that comply under Section 42 of the Internal Revenue Code to qualify for the Tax
Credit. ADOH allocates $4,000,000 of tax credits to taxpayers owning investments on qualifying
affordable housing projects. The Department of Revenue, the Department of Insurance and
Financial Institutions and ADOH may adopt rules and procedures to administer the Tax Credit.
(A.R.S. § 41-3954). According to Laws 2021, Chapter 430, the AHTC is to be repealed from
statute on December 31, 2025.
Provisions
1. Increases the AHTC cap to $10,000,000 beginning tax year 2024. (Sec. 1)
2. Extends the repeal deadline, through December 31, 2036, for the following AHTC sections of
law:
a) Premium tax; reports;
b) Affordable housing tax credit; limit; eligibility statement; rules; public hearings; annual
report; definitions;
c) Affordable housing tax credit review committees; reports; and
d) AHTC for individual and corporate income tax. (Sec. 3, 4, 5, 6)
3. Makes technical and conforming changes. (Sec. 3, 4, 5, 6, 7)
Amendments
Committee on Appropriations
1. Adopted the strike-everything amendment.
2. Allows projects that receive an AHTC to qualify for property tax abatements, except for the
Government Property Lease Excise Tax.
3. Modifies the maximum statewide AHTC limit from $10,000,000 to $6,000,000.
4. Changes the delayed repeal date from 2036 to 2028.
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note