JLBC; income tax review; report

Plain English Breakdown

Checked against official source text during the last sync.

Annual Report on Arizona Income Tax Rates

This law requires Joint Legislative Budget Committee staff to submit a yearly report reviewing income tax rates, adjustments, and credits based on the 2022 tax brackets.

What This Bill Does

• Requires JLBC staff to create an annual report by November 1 each year.
• Reviews individual income tax rate brackets as prescribed for the 2022 taxable year.
• Lists adjustments taxpayers made to their Arizona gross income in the prior year.
• Includes information about deductions and credits taken by taxpayers in the prior year.

Who It Names or Affects

• Joint Legislative Budget Committee staff who must write the report
• The president of the senate and speaker of the house who receive the report

Terms To Know

JLBC

Joint Legislative Budget Committee, a group that helps manage state budget matters.

Taxable year

The time period used to calculate how much tax someone owes for the government.

Limits and Unknowns

• The bill does not say what must happen after leaders receive the report.
• It uses 2022 tax brackets as a reference point but does not change current rates in this text.

Official Summary Text

SB1468 - JLBC; income tax review; report

Current Bill Text

SB1468 - 572R - I Ver

REFERENCE TITLE:
JLBC; income tax review; report

State of Arizona

Senate

Fifty-seventh Legislature

Second Regular Session

2026

SB 1468

Introduced by

Senators
Epstein: Alston, Gabald�n, Gonzales, Miranda, Sundareshan;� Representative
Sandoval

AN
ACT

amending
title 41, chapter 7, article 10, Arizona Revised Statutes, by adding section 41-1275;
relating to the joint legislative budget committee.

(TEXT OF BILL BEGINS ON NEXT PAGE)

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

Section 1. Title 41, chapter 7, article 10,
Arizona Revised Statutes, is amended by adding section 41-1275, to read:

START_STATUTE
41-1275.

Annual income tax rate review; report

On or before November 1 of each year, the joint
legislative budget committee staff shall submit a report to the president of
the senate and the speaker of the house of representatives reviewing and
categorizing, based on the individual income tax rate brackets prescribed by
section 43-1011 for the 2022 taxable year, the following information:

1. The individual income tax rate
prescribed by section 43-1011.

2. The adjustments to Arizona gross
income made by taxpayers pursuant to title 43, chapter 10, article 3 for the
prior taxable year.

3. The deductions and credits taken
by taxpayers pursuant to title 43, chapter 10, articles 4 and 5 for the prior
taxable year.
END_STATUTE