HB 2918 — tax rates; reductions

Fifty-seventhHouse LegislatureEngrossed Firsttax Regularrates; Session COMMITTEE ON WAYS & MEANS HOUSE OF REPRESENTATIVES AMENDMENTS TO H.B.

reductions State of Arizona House of Representatives Fifty-seventh Legislature First Regular Session HOUSE BILL 2918 (ReferenceAN toACT printedAMENDING bill)SECTIONS Amendment41-1276 instructionAND key:42-5010, ARIZONA REVISED STATUTES;

[GREENAMENDING UNDERLININGSECTION IN43-1011, BRACKETS]ARIZONA indicatesREVISED textSTATUTES, addedAS toAMENDED statuteBY orLAWS previously2021, enactedCHAPTER session412, law.SECTION 15;

[GreenAMENDING underliningSECTIONS in43-1311 brackets]AND indicates43-1711, textARIZONA addedREVISED toSTATUTES; new session law or text restoring existing law.

[GREENRELATING STRIKEOUTTO INTAXATION. BRACKETS] indicates new text removed from statute or previously enacted session law.

[Green(TEXT strikeoutOF inBILL brackets]BEGINS indicatesON textNEXT removedPAGE) from- existingi statute,- previouslyH.B. enacted session law or new session law.

<<Green2918 carets>>Be indicateit aenacted sectionby addedthe toLegislature of the bill.State of Arizona:

<<Green strikeout in carets>> indicates a section removed from the bill.

The bill as proposed to be amended is reprinted as follows:

House2. Amendments to H.B.

2918 2.

[IN 2025, THE JOINT LEGISLATIVE BUDGET COMMITTEE SHALL FURTHER ADJUST THE PERCENTAGE DETERMINED IN PARAGRAPH 3 OF THIS SUBSECTION BY REDUCING THAT AMOUNT BY 1.2015 PERCENT.] D.

E.- 0 - H.B.

2918 E.

The proposed tax increase will cause the taxes on a $100,000 home to be $(total proposed taxes including the tax -2-increase). House Amendments to H.B.

2918 increase).

G.- 1 - H.B.

2918 G.

Pursuant to subsection C of this section, the qualifying tax rate in tax year 2024 2025 for a high school district or a common school district within a high school district that does not offer instruction in high school subjects as provided in section 15-447 is $1.5930 [_______]$1.54185 [$1.54185] and for a unified school district, a common school district not within a high school district or a common school district within a high school district that offers instruction in high school subjects as provided in section 15-447 is $3.1860 [______][$3.0837].$3.0837.

-3-Sec. House Amendments to H.B.

2918 Sec.

(l)- Retail2 classification- andH.B. amounts equal to retail transaction privilege tax due pursuant to section 42-5008.01.

2918 (l) Retail classification and amounts equal to retail transaction privilege tax due pursuant to section 42-5008.01.

-4-D. House Amendments to H.B.

2918 D.

The department shall separately account for the revenues collected with respect to the rates imposed pursuant to this subsection- and3 the- stateH.B. treasurer shall distribute all of those revenues in the manner prescribed by section 42-5029, subsection E.

2918 subsection and the state treasurer shall distribute all of those revenues in the manner prescribed by section 42-5029, subsection E.

-5-2. House Amendments to H.B.

2918 2.

Sec.- 4 - H.B.

2918 Sec.

$0 — $20,000 2.90% of taxable income $20,001 — $50,000 $580, plus 3.30% of the excess over $20,000 $50,001 — $100,000 $1,570, plus 3.90% of the excess over $50,000 -6-$100,001 House— Amendments$300,000 to$3,520, H.B.plus 4.80% of the excess over $100,000 $300,001 and over $13,120, plus 5.17% of the excess over $300,000 2.

2918 $100,001 — $300,000 $3,520, plus 4.80% of the excess over $100,000 $300,001 and over $13,120, plus 5.17% of the excess over $300,000 2.

$0 — $10,000 2.88% of taxable income $10,001 — $25,000 $288, plus 3.24% of the excess over $10,000 $25,001 — $50,000 $774, plus 3.82% of the excess over $25,000 $50,001- —5 $150,000- $1,729,H.B. plus 4.74% of the excess over $50,000 $150,001 and over $6,469, plus 5.10% of the excess over $150,000 (b) In the case of a married couple filing a joint return or a single person who is a head of a household:

2918 $50,001 — $150,000 $1,729, plus 4.74% of the excess over $50,000 $150,001 and over $6,469, plus 5.10% of the excess over $150,000 (b) In the case of a married couple filing a joint return or a single person who is a head of a household:

$0 — $10,000 2.87% of taxable income $10,001 — $25,000 $287, plus 3.20% of the excess over $10,000 $25,001 — $50,000 $767, plus 3.74% of the excess over $25,000 $50,001 — $150,000 $1,702, plus 4.72% of the excess over $50,000 $150,001 and over $6,422, plus 5.04% of the excess over $150,000 -7-(b) HouseIn Amendmentsthe tocase H.B.of a married couple filing a joint return or a single person who is a head of a household:

2918 (b) In the case of a married couple filing a joint return or a single person who is a head of a household:

$0 — $20,000 2.87% of taxable income $20,001 — $50,000 $574, plus 3.20% of the excess over $20,000 $50,001 — $100,000 $1,534, plus 3.74% of the excess over $50,000 $100,001 — $300,000 $3,404, plus 4.72% of the excess over $100,000 $300,001 and over $12,844, plus 5.04% of the excess over $300,000 4.- 6 - H.B.

2918 4.

-8-If Housetaxable Amendmentsincome tois: H.B.