The bill SB1056 amends section 43-312 of the Arizona Revised Statutes to include the President of the Senate and the Speaker of the House of Representatives as recipients of the annual report from the Arizona Department of Revenue (ADOR) regarding capital gains taxes paid by nonresidents on real estate transactions in Arizona. Currently, this report is provided only to the Joint Legislative Budget Committee and the Governor's Office of Strategic Planning and Budgeting.

Additionally, the bill makes minor technical changes to the existing language, such as clarifying the reporting deadlines and ensuring consistency in the phrasing of the law. The overall intent of the bill is to enhance legislative oversight by including key legislative leaders in the distribution of important financial data related to real estate transactions. There is no anticipated fiscal impact on the state General Fund associated with this legislation.

Statutes affected:
Introduced Version: 43-312
Senate Engrossed Version: 43-312