Fifty-third Legislature                                                         

First Regular Session                                                           

 

COMMITTEE ON BANKING AND INSURANCE

HOUSE OF REPRESENTATIVES AMENDMENTS TO H.B. 2438

(Reference to printed bill)

 

 

 

Strike everything after the enacting clause and insert:

"Section 1.  Title 43, chapter 2, article 3, Arizona Revised Statutes, is amended by adding section 43-242, to read:

START_STATUTE43-242.  Change of taxpayer organization; nontaxable event

Notwithstanding any provision of the internal revenue code or any federal rule or regulation adopted pursuant to the internal revenue code, a change in the organizational structure of a corporation, including an s corporation, or a limited liability company, a partnership or any other entity, however organized, into another organizational structure is not a taxable event for the purposes of this title if there is no change among the owners, their ownership interests or the assets of the organization." END_STATUTE

Amend title to conform

And, as so amended, it do pass

 

DAVID LIVINGSTON CHAIRMAN

 

 

2438BANKING AND INSURANCE

02/13/2017

03:12 PM

H: rca