Budget passed, Legislature taking up tax cuts
PHOENIX (AP) - The Arizona House and Senate have given final approval to a pair of tax cuts for manufacturers just a day after adopting a $9.23 billion state budget.
One would give a multi-million tax credit to the world's biggest corporation to install and run a solar facility.
The Legislature approved House Bill 1413 eliminating sales taxes on electricity purchased by manufacturers that is expected to cost the state general fund $17 million a year. That bill is backed by Gov. Jan Brewer.
Another bill, HB 1413, specifically targets Apple Inc.'s planned Mesa sapphire glass manufacturing plant by providing a $5 million tax credit if it installs at least $300 million in renewable power capacity to supply its plant.
Apple already qualifies for a $10 million grant from the Arizona Commerce Authority.
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