AZ HB2493

Requires escrow agents licensed under Arizona law to file an information return of real property sales in Arizona by March 31 each year, using the same form and format as federal Internal Revenue Code Section 6045(e) filings.

Directs the Department of Revenue to notify the Joint Legislative Budget Committee and Governor's Office of Strategic Planning and Budgeting by June 30 annually whether nonresident real estate sale revenue in Arizona reached $3,000,000 or more in the prior fiscal year.

Requires the Department of Revenue to report annually by June 30 on the amount of revenue collected from nonresident sales of Arizona real estate as identified through the information return filings required by this section.