This bill proposes to amend the Arizona Revised Statutes by adding a new section (10-131) that requires publicly traded corporations, including those traded on foreign exchanges and those with significant ownership by publicly traded entities, to file an annual statement with the commission. The statement must be submitted within thirty days after the tax return deadline or within ninety days after filing a federal tax return if no state tax return is required. The statement will include detailed information about the corporation, its ownership, financial data, and other relevant disclosures, ensuring transparency and accountability.

Additionally, the bill establishes that these statements will be public records, accessible through a searchable database on the commission's website. It mandates that the accuracy of the statements be attested to by the corporation's chief operating officer and allows for audits by the department of revenue. The commission is tasked with developing oversight and penalty systems for non-compliance, and it will also adopt necessary rules and procedures for the administration of this section. Overall, the bill aims to enhance corporate transparency and regulatory oversight in Arizona.

Statutes affected:
Introduced Version: 10-131