This bill proposes to amend the Arizona Revised Statutes by adding a new section, 10-131, which establishes annual reporting requirements for publicly traded corporations operating in the state. Under the new law, these corporations must file a detailed statement with the commission within specified timeframes, including information about their principal office, ownership structure, industry classification, and financial data related to their Arizona operations. The bill also allows corporations not required to file a tax return in Arizona to submit an alternative statement with less comprehensive information.

Additionally, the bill mandates that the statements be public records, accessible through a searchable database on the commission's website. It requires the chief operating officer of the corporation to attest to the accuracy of the statements, which are subject to audit by the department of revenue. The commission is tasked with developing an oversight and penalty system to ensure compliance, including publishing the names of corporations that fail to meet the requirements. Overall, the bill aims to enhance transparency and accountability for corporations doing business in Arizona.

Statutes affected:
Introduced Version: 10-131