House Bill (HB) 2250 is also known as the Arizona’s Job Recovery Act. More than three-dozen members of the Legislature including three local members sponsor it: Representative Frank Antenori (R), Representative David Gowan (R), and Senator Al Melvin (R). The proposal, which was announced at a news conference held by House Speaker Kirk Adams (R), includes $350 million in property tax breaks. That reduction is accomplished by the repeal of the state equalization tax. There are an additional $400 million in income tax cuts including a 10% reduction in the personal income tax and a drop in the corporate tax rate from 6.98% to 5%. Both of those decreases would come over a four-year period. The proposal also includes tax credits and breaks in the state withholding tax for certain businesses, which create jobs. In order to qualify, those new jobs must be equal to at least one-third of the median income in the county they are created in.
The full House approved HB 2250 on January 28, 2010 on a 34-25 vote.
Votes of Pima County House Members on House Bill 2250
Frank Antenori (R) – Yes
David Bradley (D) – No
Olivia Cajero Bedford (D) – No
Steve Farley (D) – No
David Gowan (R) – Yes
Matt Heinz (D) – No
Phil Lopes (D) –No
Daniel Patterson (D) – No
Vic Williams (R) – Yes
Nancy Young Wright (D) – No
Update
On February 12, 2010 the Joint Legislative Budget Committee released its analysis of the bill. The non-partisan group says the proposal could cost the state $1 billion in lost revenue.
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