AZ SB1264

Amends Arizona's definition of "Internal Revenue Code" in Section 42-1001 to reference the U.S. Internal Revenue Code as amended and in effect on January 1, 2022, instead of March 11, 2021.

Updates Section 43-105 to establish a new conformity date of January 1, 2022 for taxable years beginning after December 31, 2021.

For taxable years 2020-2021, includes provisions from the PPP Extension Act of 2021 (P.L. 117-6) and the Infrastructure Investment and Jobs Act (P.L. 117-58) that are retroactively effective.

Retains prior-year IRC conformity provisions for taxable years 2010 through 2020, maintaining references to various federal tax acts with retroactive effective dates.

Approved by the Governor on March 23, 2022.