MULTIPLE TAX TYPES
S1050 (Chapter 61)
Taxation of Cleanrooms
Provides that cleanrooms used for manufacturing, processing, fabrication or research and development of semiconductor products are to be valued and assessed as tangible personal property. Specifies that "cleanrooms" exclude the building or a permanent, nonremovable component of the building that houses the cleanroom environment. Also provides transaction privilege tax and use tax exemptions.
Effective July 21, 1997.
S1088 (Chapter 14)
Tax Correction Act of 1997
Nonsubstantive technical changes to statutes relating to property tax, transaction privilege tax, generation skipping transfer tax, corporate income tax, individual income tax, and withholding tax.
Effective July 21, 1997; amends, due to a typographical error, the amount of property tax credit allowed for an individual who lives alone with a household income of $2,351 to $2,450 to $345 from $348.
Effective July 21, 1997; and applicable retroactively to September 30, 1992, the date of the original enactment of the Arizona credit, an amendment is provided to override the federal termination provisions of I.R.C. §41 regarding computation of allowable corporate research and development expenses tax credit so that the Arizona credit will not terminate.
Effective July 21, 1997; revises property tax rates used to calculate additional state aid for education and deletes the statutory citation for definition of "bees" for purposes of property tax exemption for productive livestock and animals, and conforms language with the Constitutional amendment relating to maximum personal property exemption amounts.
S1130 (Chapter 150)
Tax Code Recodification
Recodification of Title 42 with nonsubstantive amended language for clarity and removal of references to gender. Provides that the interpretation and construction of the tax code are not to be changed solely due to changes made by the recodification. Actions, liens, bonds, proceedings, etc., prior to the bill's effective date are to remain in effect, as are all forms and other documents that are based on or refer to Title 42. The latter remain valid until superseded by revised documents.
Effective from and after December 31, 1998.
S1132 (Chapter 274)
Tax Code; Omnibus Corrections
Includes tax exemptions retroactive from and after June 30, 1997 for materials purchased by prime contractors that do soil remediation work, and for the purchases of tangible personal property used in soil remediation activities (cleanup from S1452 WQARF);
Provides tax exemptions retroactive to from and after December 31, 1981, under retail and restaurant classifications for food and beverages that airlines furnish without additional charge to passengers for consumption in flight.
Clarifies that a person who has paid an excise tax on out-of-state purchases at a rate less than Arizona's use tax rate is required to pay Arizona use tax on the difference.
Provides that refund claims of tax paid on qualified mineral leases from the grant of profit a prendre are due on or before December 31, 1997, and establishes an aggregate refund cap of $100,000 (reference H2199, Chapter 3).
Changes adopted affecting property tax include various statutes relating to judicial appeals of property tax matters to clarify that such appeals may be taken to either the Tax Court or Superior Court. Also includes the adoption of a definition of "valuation year" and specifies the time period in the property tax calendar referred to in statute.
Effective July 21, 1997; please note above retroactive dates.