REFERENCE TITLE: income tax credit; disabled veterans

State of Arizona Senate Forty-seventh Legislature Second Regular Session 2006

SB 1009

Introduced by Senator Waring

 

AN ACT

 

Amending section 43-222, Arizona Revised Statutes, as amended by Laws 2005, chapter 12, section 1, chapter 264, section 1, chapter 316, section 2 and chapter 317, section 10; repealing section 43-222, Arizona Revised Statutes, as amended by Laws 2005, chapter 292, section 1; amending title 43, chapter 10, article 5, Arizona Revised Statutes, by adding section 43‑1085; relating to iNDIVIDUAL INCOME TAX CREDITS.

 

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 43-222, Arizona Revised Statutes, as amended by Laws 2005, chapter 12, section 1, chapter 264, section 1, chapter 316, section 2 and chapter 317, section 10, is amended to read:

START_STATUTE43-222.  Income tax credit review schedule

Each year the joint legislative income tax credit review committee shall review the following income tax credits:

1.  In 2005, sections 43‑1087, 43‑1088 and 43‑1175.

2.  In 2006, sections 43‑1073, 43‑1089, 43‑1089.01, 43‑1089.02, 43‑1090, 43‑1176 and 43‑1181.

3.  In 2007, sections 43‑1077, 43‑1078, 43‑1079, 43‑1080, 43‑1165, 43‑1166, 43‑1167 and 43‑1169.

4.  In 2008, sections 43‑1074.01, 43‑1081, 43‑1168, 43‑1170 and 43‑1178.

5.  In 2009, sections 43‑1076, 43‑1081.01, 43‑1083, 43‑1084, 43‑1162 and 43‑1170.01.

6.  In 2010, sections 43‑1075, and 43‑1163.

7.  In 2010, sections 43‑1079.01, and 43-1090.01, 43-1163, 43‑1167.01 and 43‑1182.

8.  7.  In 2011, section sections 43‑1074.02 and 43-1085.

Sec. 2.  Repeal

Section 43-222, Arizona Revised Statutes, as amended by Laws 2005, chapter 292, section 1, is repealed.

Sec. 3.  Title 43, chapter 10, article 5, Arizona Revised Statutes, is amended by adding section 43-1085, to read:

START_STATUTE43-1085.  Credit for disabled veterans

A.  For taxable years beginning from and after December 31, 2006, a credit is allowed against the taxes imposed by this title for each disabled veteran who is a resident of this state.

B.  The amount of the credit is equal to five hundred dollars multiplied by the percentage of disability as determined by the United States department of veterans affairs for the disabled veteran who is claiming the credit under this section.

C.  If the allowable amount under subsection A of this section exceeds the amount of tax due under this title, after any setoff under section 42‑1122, the excess shall be paid in the same manner as a refund under section 42-1118. END_STATUTE

Sec. 4.  Purpose

Pursuant to section 43-223, Arizona Revised Statutes, the legislature enacts section 43-1085, Arizona Revised Statutes, as added by this act, to reduce the amount of state income taxes paid by disabled veterans in this state.