This bill proposes updates to current statutes by introducing new requirements for the Department of Revenue regarding nonresident real estate transactions. Specifically, it mandates that by December 31, 2027, the department must collaborate with stakeholders to develop recommendations aimed at ensuring taxpayer compliance with section 43-312 of the Arizona Revised Statutes and identifying best practices for enforcing and collecting taxes from nonresidents on income generated from capital gains allocable to Arizona.

Additionally, the bill requires the Department of Revenue to submit a report detailing these recommendations by June 30, 2028, to various legislative and executive bodies, including the president of the senate and the governor's office. Furthermore, this section of the bill is set to be repealed after December 31, 2028, indicating a temporary measure to address the specified issues within a defined timeframe.