If enacted, this bill would amend current statutes related to the transaction privilege tax (TPT) by requiring utility providers (water, electric, and gas) to maintain separate records of gross proceeds from sales to residential and nonresidential customers. Specifically, it would insert a new requirement for these businesses to report these separate amounts to the Arizona Department of Revenue (ADOR) on their TPT returns. Additionally, the bill mandates that ADOR revise the TPT return form to accommodate this new reporting requirement within six months of the bill's effective date.

The bill also includes a provision that repeals the requirement for ADOR to revise the TPT return form after December 31, 2026, and clarifies that the new reporting requirements will apply to taxable periods starting on or after the first day of the month following the sixth month after the general effective date of the act. Furthermore, it makes conforming changes to existing statutes, ensuring that the language aligns with the new requirements.

Statutes affected:
Introduced Version: 42-5063