AZ SB1196

Changes the annual reporting deadline for the college savings program commission from February 1 to March 1 under section 15-1879.

Removes the sunset date from the college savings plan tax subtraction, making it permanent instead of expiring December 31, 2012.

Allows taxpayers to subtract contributions to 529 college savings plans up to $750 for single filers/heads of household and $1,500 for married couples filing jointly, to the extent contributions were not deducted federally.

Married couples filing separately may divide the $1,500 subtraction between them but cannot exceed the total limit.