Bill
Number: S.B. 1288
Lesko Floor Amendment
Reference to: printed bill
Amendment drafted by: Bill Ritz
FLOOR AMENDMENT EXPLANATION
The Lesko floor amendment, as requested by DOR, makes technical changes in order to conform to the changes made for the auditing of partnerships by the IRS.
Second Regular Session S.B. 1288
LESKO FLOOR AMENDMENT
SENATE AMENDMENTS TO S.B. 1288
(Reference to printed bill)
Page 7, line 23, after “INCOME” insert “AND PARAGRAPH 2 of this subsection DOES NOT APPLY”
Line 37, after “INCOME” insert “OR A NET INCREASE IN ARIZONA TAXABLE INCOME OF A PARTNERSHIP THAT MAKES THE ELECTION UNDER SECTION 6226 OF THE INTERNAL REVENUE CODE AS ADDED BY THE BIPARTISAN BUDGET ACT OF 2015 (P.L. 114-74)”
Line 43, after the period insert “A PARTNERSHIP THAT HAD A NET INCREASE UNDER THIS PARAGRAPH AND THAT FAILS TO TIMELY PROVIDE THE STATEMENTS REQUIRED TO THE PARTNERS AND TO THE DEPARTMENT SHALL PAY THE TAX PURSUANT TO PARAGRAPH 1 of this subsection IN LIEU OF THE PARTNERS REPORTING THE ADJUSTMENT.”
Amend title to conform