AZ HB2174

Amends section 43-1022 of Arizona Revised Statutes to add a new deduction for individual income tax purposes.

Allows taxpayers to subtract from Arizona gross income the amount paid as a federal tax penalty for failing to timely purchase health care insurance under the Patient Protection and Affordable Care Act (P.L. 111-148).

Deduction applies only to the taxable year beginning from and after December 31, 2013 through December 31, 2014.

Permits eligible individuals to reduce their Arizona taxable income by the amount of federal health insurance penalties incurred during the specified tax year.