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| Economic Development | |
| 49th Legislature - 2nd Regular Session, 2010 | Saturday, Jul 31 2010 9:18 PM |
| Bill summaries and histories copyright 2010 Arizona Capitol Reports, L.L.C. | |
| Economic Development |
| H2161: PAYDAY LOANS; REGULATION | Regulates the payday loan industry (legal name: deferred presentment). Emergency clause. If the emergency clause is not enacted, this act is retroactive to July 1, 2010. | First sponsor: Rep. Tobin |
General Comments (all lists): SUPPORT Single-List Comments: Support |
1/25 House bank-ins held. |
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| H2250: ARIZONA'S JOB RECOVERY ACT | Repeals the state's current job training program and replaces it with a new job training program consisting of "impact programs" (defined) managed by the Dept of Commerce. Establishes the Arizona Opportunity Fund and authorizes the governor to negotiate on behalf of the state in awarding grants from the fund to attract business or to promote economic, infrastructure or community development. Establishes a Quality Jobs Program whereby companies may qualify for a waiver of 50% of the state withholding tax on compensation. Delays the repeal of statutes authorizing enterprise zones for five years to July 1, 2016 and expands the eligibility criteria for companies that may qualify for enterprise zone tax incentives. The state equalization assistance property tax is phased out over four years, beginning in tax year 2011. The assessment ratio for class 1 property (commercial & industrial) is phased down to 15% from 20% in 1% increments beginning in tax year 2012. The corporate income tax rate is reduced to 5% from 6.968% over four years beginning in tax year 2011. The corporate sales factor is increased to 100% from 80% over two years beginning in tax year 2015. Makes reductions in individual income tax rates over four years beginning in tax year 2011. More. AS PASSED HOUSE. | First sponsor: Rep. Adams |
General Comments (all lists): Support with Concerns Single-List Comments: SUPPORT WITH CONDITIONS |
4/15 from Senate rules okay. |
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| H2504 (Chapter 321): GPLET; LEASE RECORDS AND REPORTING | Changes in statutes dealing with the Government Property Lease Excise Tax that is collected on government property leased to private business. Government lessors of real estate must record a memorandum of lease with the county recorder that includes basic lease terms, names of parties, the lease term and options for renewal. The Dept of Revenue must maintain a public database of all government property leases. With some grandfathered exceptions, establishes higher tax rates for GPLET leases entered into after May 31, 2010. Additional restrictions are placed on leases of government real estate within designated slum or blighted areas. For purposes of tax abatement for government leases in a "central business district," a municipality may designate only one such district, and new restrictions are placed on the size and location of such designated districts. The Auditor General must conduct a special audit of the GPLET program in 2015, to be paid for by counties from property tax revenues received from GPLET property. By Dec. 15, 2016, the JLBC shall conclude an analysis of the effectiveness of the GPLET rates. AS SIGNED BY GOVERNOR. | First sponsor: Rep. Murphy |
General Comments (all lists): Monitor Single-List Comments: Monitor |
5/11 signed by governor. Chap. 321, Laws 2010. |
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| H2595: ENTERPRISE ZONE; JOBS INCENTIVES | Numerous changes to statutes governing enterprise zone tax incentives, including modifying income and property tax incentive qualifications to require businesses to create jobs in Arizona that meet specified wage requirements or to make capital investments in Arizona, and removing the requirement for businesses to be located in specified areas to qualify. More. | First sponsor: Rep. Reagan |
General Comments (all lists): Support Single-List Comments: Support |
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| S1020: GOVERNMENT CONTRACTS; AZ PREFERENCE | In awarding contracts for services that will be paid with public monies and in cases in which a bid from an Arizona resident is within 5% of the lowest bid, agencies must award the contract to the Arizona resident as long as that person has paid property taxes in this state for at least 2 years prior to submission of the bid. | First sponsor: Sen. Pearce |
General Comments (all lists): Monitor Single-List Comments: Monitor |
1/11 referred to Senate gov inst. |
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| S1201 (Chapter 303): RENEWABLE ENERGY TAX INCENTIVE REVISIONS | Various changes to statutes establishing both income and property tax credits for corporations and individuals that expand or locate qualified renewable energy operations in the state. Changes include: requiring a post-approval process and shortening to 5 years from 10 years the time that the operation must continue in business. The maximum allowable annual statewide amount of the income tax credit is reduced by $300,000 to $69,700,000, and $300,000 is appropriated from the General Fund to the Dept of Commerce each fiscal year through FY2015 to pay personnel costs to administer the program. More. Retroactive to Oct. 1, 2009. AS SIGNED BY GOVERNOR. | First sponsor: Sen. Leff | 5/10 signed by governor. Chap. 303, Laws 2010. |
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| SCR1023: TECHNOLOGY TRANSFER; STATE UNIVERSITIES | The 2010 general election ballot is to carry the question of whether to amend Article IX, Section 7, of the state Constitution to permit a state university to acquire an ownership interest in a venture as consideration for transferring or licensing technology owned or controlled by the university. Proceeds must accrue to the public through the Board of Regents or a state university. | First sponsor: Sen. Melvin |
General Comments (all lists): Monitor Single-List Comments: Monitor |
1/19 referred to Senate educ. |
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