Arizona SB1464 amends tax laws to protect taxpayers from retroactive penalties and requires hearings on new tax interpretations.

Arizona SB1464 amends section 42-2078 of the Arizona Revised Statutes to ensure the Department of Revenue cannot apply new tax laws retroactively or penalize taxpayers for following prior laws. It mandates that if a new tax interpretation or application will adversely affect taxpayers, the department or an affected taxpayer must notify relevant legislative committees. If no hearing is held within 60 days of the next legislative session, the new interpretation or application takes effect.

Arizona SB1464 amends tax laws to protect taxpayers from retroactive penalties and requires hearings on new tax interpretations.

Arizona SB1464 amends section 42-2078 of the Arizona Revised Statutes to ensure the Department of Revenue cannot apply new tax laws retroactively or penalize taxpayers for following prior laws. It mandates that if a new tax interpretation or application will adversely affect taxpayers, the department or an affected taxpayer must notify relevant legislative committees. If no hearing is held within 60 days of the next legislative session, the new interpretation or application takes effect.