AZ HB2614

Exempts contracts entered into by prime contractors or written bids made by prime contractors before January 1, 2015 from application of Section 42-5075, subsection O of Arizona Revised Statutes (transaction privilege tax reform enacted in Laws 2014, chapter 263, section 13).

Requires prime contractors to maintain documentation in a manner and form prescribed by the Department of Revenue to verify the date of the contract or written bid to qualify for the exemption.

Effective retroactively to December 31, 2014.