AZ HB2379

Updates Arizona's definition of "Internal Revenue Code" in Section 42-1001 to reference the U.S. Internal Revenue Code of 1986 as amended and in effect as of January 1, 2024 (instead of January 1, 2023).

Amends Section 43-105 to add a new subsection A establishing that for taxable years beginning after December 31, 2023, Arizona will use the federal Internal Revenue Code as of January 1, 2024, including retroactive provisions effective during 2023.

Renumbers existing subsections in Section 43-105 to accommodate the new 2024 conformity provision while maintaining provisions for prior taxable years (2012 through 2023).

Maintains Arizona's ability to include retroactively effective federal tax provisions from specific legislation (CHIPS and Science Act, Inflation Reduction Act, and others) for applicable taxable years.

Bill was approved by the Governor on March 18, 2024 and filed with the Secretary of State on the same date.