taxation; omnibus; 2026-2027.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill makes broad changes to Arizona's tax laws, covering areas like insurance premiums, vehicle taxes, and corporate taxes. It amends several sections of the Arizona Revised Statutes to adjust tax rates, establish new tax credits, and clarify how certain taxes are calculated and applied. Specifically, it modifies premium taxes for insurance companies, introduces a new tax on vehicle premiums, and adjusts tax exemptions for specific groups like veterans and people with disabilities. The bill also includes provisions related to the application of the federal internal revenue code.
Key provisions
- Increases the tax on vehicle premiums to 0.4312 percent.
- Adjusts premium tax rates for insurance companies, including changes for fire insurance, disability insurance, and health care services plans.
- Establishes a premium tax credit for certain insurance companies.
- Modifies tax exemptions for widows and widowers, persons with disabilities, and veterans.
- Updates the definition of the ‘internal revenue code’ for Arizona tax purposes.
- Changes the calculation of premium taxes for fire insurance, specifying percentages based on location.
- Introduces a system for distributing tax revenue from manufacturing facilities to cities and towns.
- Requires insurers to report and pay taxes electronically.
Who is affected
- Insurance companies
- Vehicle owners
- Manufacturers
- Cities and towns
Bill text
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Sponsors
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1 on record
Primary sponsor
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