Today marks the 81st day of the First Regular Session of Arizona’s 53rd Legislature. So far, members of both the Arizona House and Senate have put more than 1,050 bills up for consideration. Of those, 135 bills were passed by the Legislature and 87 have been signed into law by Gov. Doug Ducey so far, including 10 Chamber-supported bills.
The work of legislative committees is winding down – with the exception of the Rules and Appropriations committees, as lawmakers’ focus is shifting toward crafting and passing the state budget this week for the upcoming fiscal year.
Bills supporting the Chamber’s efforts to strengthen integrity in the state’s initiative process are moving in both chambers. The Senate Appropriations Committee passed HB 2244 on Tuesday afternoon, a Chamber-supported bill that requires statewide initiative measures to adhere strictly to all constitutional and statutory requirements. The standard of strict compliance applies currently to legislative referrals and citizen referenda, so applying the same standards to statewide initiative measures creates uniformity within the process. On Wednesday afternoon, House Appropriations passed SB 1236, which strengthens requirements governing paid circulator registrations with the Secretary of State.
Bill Spotlight: HB 2191 (S/E Angel Investment Tax Credit)
Chamber position: Support
Summary: HB 2191 authorizes the Arizona Commerce Authority to certify tax credits for qualified investments made in a qualified small business for up to $10 million. The Angel Investment Tax Credit program encourages investment in start-ups and other higher-risk ventures by enabling a certified angel investor to claim a tax credit equal to 30 percent of the investment made in a certified business. The credit jumps to 35 percent for investments in bioscience or rural companies.
Recommendation: GPCC supports this bill as an economic development driver by expanding early stage investments in Arizona small businesses.
We urge members of the Legislature to join us in supporting HB 2191.
At the federal level, U.S. House speaker Paul Ryan pulled the Obamacare repeal bill, also known as the American Health Care Act, from the House floor on March 24, signaling the end for the measure for the time being. For now, the Affordable Care Act (ACA) remains the law of the land. It is expected that President Trump and congressional leaders may now focus their attention on tax reform efforts.