Company: NAZ
Filing Date: 2025-02-28
Form Type: N-2
Source: 0001839882-25-012465
Chunk: 6

Company: NUVEEN ARIZONA QUALITY MUNICIPAL INCOME FUND
Filing Date: 2025-02-28
Form: N-2
Chunk 6
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—Principal Risks of the Funds,” as such principal risks may be supplemented               
 from time to time, which is incorporated by reference herein, for a discussion of the principal risks you should consider before making       
 an investment in the Fund. Any additional risks applicable to a particular offering of Securities will be set forth in the related prospectus 
 supplement.                                                                                                                                   |

5

| Use         
 of Proceeds | Unless otherwise specified in a prospectus supplement,                                                                                  
 the Fund will use the net proceeds from any offering of Securities, pursuant to this Prospectus, to make investments in accordance with 
 the Fund’s investment objectives. See “Use of Proceeds.”                                                                                |

| Federal    
 Income Tax | [The Fund has elected to be treated, and intends                                                                                        
 to qualify each year, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986,                
 as amended (the “Code”). To qualify for the favorable U.S. federal income tax treatment generally accorded to a RIC                     
 under Subchapter M of the Code the Fund must, among other requirements, derive in each taxable year at least 90% of its gross           
 income from certain prescribed sources and satisfy a diversification test on a quarterly basis. If the Fund fails to satisfy the        
 qualifying income or diversification requirements in any taxable year, the Fund may be eligible for relief provisions if the failures   
 are due to reasonable cause and not willful neglect and if a penalty tax is paid with respect to each failure to satisfy the applicable 
 requirements. Additionally, relief is provided for certain de minimis failures of the diversification requirements where                
 the Fund corrects the failure within a specified period. In order to be eligible for the relief provisions with respect to a failure    
 to meet the diversification requirements, the Fund may be required to dispose of certain assets. If these relief provisions were        
 not available to the Fund and it were to fail to qualify for treatment as a RIC for a taxable year, all of its taxable income           
 (including its net capital gain) would be subject to tax at the 21% regular corporate rate without any deduction for distributions      
 to shareholders, and such distributions would be taxable as ordinary dividends to the extent of the Fund’s current and accumulated      
 earnings and profits. To qualify to pay exempt-interest dividends, which are treated as items of interest excludable from gross         
 income for federal income tax purposes, at least 50% of the value of the total assets of the Fund must consist of obligations           
 exempt from