This bill proposes to amend the Arizona Revised Statutes by adding a new section, 43-329, which will require the Arizona Department of Revenue (ADOR) to assume that the Legislature will enact amendments to state law that align with the U.S. Internal Revenue Code (IRC) affecting federal adjusted gross income (FAGI) when prescribing income tax forms and instructions. If the Legislature decides to enact nonconformity, ADOR will be required to supplement the published forms and instructions accordingly.

Additionally, the bill defines the terms "conformity" and "nonconformity" as they are used in the context of tax law, aligning them with existing definitions in section 43-107. This update aims to streamline the process of tax form preparation and ensure that Arizona's tax regulations remain consistent with federal standards. The bill does not anticipate any fiscal impact on the state General Fund.

Statutes affected:
Introduced Version: 43-329