ARIZONA HOUSE OF REPRESENTATIVES

Fifty-seventh Legislature

First Regular Session

Senate: FIN DP 4-3-0-0 | 3rd Read 17-12-1-0-0

House: WM DP 5-4-0-0

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☒ Fiscal Note

SB 1331: income tax subtraction; capital gains

Sponsor: Senator Mesnard, LD 13

Caucus & COW

Overview

Broadens the 25% subtraction to Arizona gross income to include all long-term capital gains irrespective of when the assets were acquired.

History

Under A.R.S. § 43-1022, 25% of the income derived from long-term capital gains on assets acquired beginning January 1, 2012 can be subtracted from an individual filer's taxable income.

Provisions

1.   Modifies the 25% subtraction to Arizona gross income to include all long-term capital gains included in federal adjusted gross income irrespective of when assets were acquired, beginning January 1, 2026. (Sec. 1)

2.   Makes technical and conforming changes. (Sec. 1)

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6.                     SB 1331

7.   Initials VP/DD    Page 0 Caucus & COW

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