PHOENIX — A House committee has approved a bill that would make some tax
credits claimed by corporations public information.
House Bill 2586 would require the state Department of Revenue to submit an
annual report detailing the names of companies who get corporate credits of
$5,000 or more and to make that report public.
Republican bill sponsor Darin Mitchell of Litchfield Park said the bill would
create transparency and allow policy makers to examine whether such tax credits
are effective for economic development.
Arizona Tax Research Association president Kevin McCarthy opposes the bill
because it could subject corporations to public shaming for taking advantage of
legal tax credits.
The bill passed the House Ways and Means Committee unanimously Monday and heads
to the full House after a routine Rules Committee review.