Senate Bill 1296 Summary

• Amends Arizona tax code to update the definition of "internal revenue code" used for income tax purposes, conforming to the 2020 federal code as of January 1, 2020.

• For taxable years beginning after December 31, 2019, Arizona adopts the federal Internal Revenue Code of 1986 as amended and in effect on January 1, 2020, excluding changes enacted after that date.

• For taxable years 2018-2019, includes retroactive provisions from the Taxpayer First Act (P.L. 116-25) and Further Consolidated Appropriations Act, 2020 (P.L. 116-94).

• Updates technical definitions in section 42-1001 regarding electronic communications, changing "e-mail" to "email" and clarifying requirements for secure electronic transmission of confidential information.

• Effective March 24, 2020.