AZ SB1269

Updates the definition of "internal revenue code" in Arizona tax law to reference the U.S. Internal Revenue Code as amended and in effect on January 1, 2022 (instead of March 11, 2021) for taxable years beginning after December 31, 2021.

Includes provisions from the PPP Extension Act of 2021 (P.L. 117-6) and Infrastructure Investment and Jobs Act (P.L. 117-58) with retroactive effective dates for taxable years beginning between December 31, 2020 and December 31, 2021.

Makes conforming amendments to Section 42-1001 and Section 43-105, Arizona Revised Statutes, to align Arizona's tax code with federal tax law changes through early 2022.

Excludes any changes to the federal Internal Revenue Code enacted after January 1, 2022 from Arizona's conformity requirements.