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Council approves IGA with Arizona Department of Revenue to pursue Title 42 reimbursements for Amcor infrastructure
Summary
Peoria approved an intergovernmental agreement with the Arizona Department of Revenue to enable state reimbursement of construction transaction privilege (sales) taxes generated by Amcor’s project under A.R.S. Title 42 provisions; staff emphasized a $200 million statewide cap and a developer backstop in the Amcor development agreement.
The City Council on Nov. 4 approved an intergovernmental agreement (IGA) with the Arizona Department of Revenue to participate in a Title 42 reimbursement program tied to Amcor’s planned manufacturing facility in the Peoria Innovation Corps.
Deputy City Manager Mike Faust and other staff said the statute (Title 42, A.R.S. §42‑5032.02 as described during the presentation) allows jurisdictions to dedicate local construction transaction privilege (sales) tax receipts generated by a…
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