The Greater Phoenix Economic Council is rebooting its signature bill from the 2011 legislative session with some substantial changes that may help it avoid another veto.

The GPEC-drafted proposal, obtained by the Arizona Capitol Times, contains familiar benefits for businesses: A huge property tax break for companies that make major investments, and a tax break for Arizona-based companies that provide services to out-of-state customers.

With Arizona’s jobless rate hanging stubbornly at 9 percent, next year’s election will come down to one issue that trumps all others: jobs.

And as dozens of lawmakers gear up for the campaign season — including the 25 freshmen elected last year — they know that voters will be expecting them to do something about it.

Officials say property owners in Maricopa County will see virtually the same property tax bills as they did last year.

If one were to measure the success of Arizona’s Enterprise Zone program by some of the eulogies that followed its demise, you might question why it was even created in the first place.

But a flurry of applications from businesses hoping to cash in on the expiring property tax breaks in the Enterprise Zone program leaves no doubt that it will be missed.

A group espousing California-style property tax limits has renewed its drive, filing another citizen initiative after failing to qualify for last year’s ballot.

The 50th Arizona Legislature has boldly staked its claim to being the most pro-small business Legislature in Arizona’s history. On issue after issue, legislators advanced measures to relieve the tax and regulatory burdens on the engines of our economic recovery, Arizona’s small businesses. Even in instances where lawmakers mistakenly pursued bad policy, they did so with the right motive in mind – creating more jobs.

Here are 2011’s top ten legislative victories for the small business.

Supporters of a bill that would have created massive property tax breaks for major business investments couldn’t have asked for more signs that Gov. Jan Brewer would stand with them.

As it turns out, they could’ve used a few more.

Gov. Jan Brewer has vetoed a bill to create a property tax break for businesses that qualify by making new investments and creating jobs.

Despite objections from fiscally conservative legislators, the Senate approved on Monday a measure that would allow businesses that meet certain requirements to pay a lower property tax.

A plan viewed by supporters as a second jobs bill cleared another legislative hurdle, but a provision expanding tax credits for new jobs might have to wait until next year.