ARIZONA STATE SENATE

RESEARCH STAFF

 

SEAN LAUX

LEGISLATIVE  RESEARCH ANALYST

FINANCE COMMITTEE

Telephone: (602) 926 -3171

Facsimile: (602) 926 -3833

 

TO:                  SENATOR DEAN MARTIN                       

 

DATE:                        June 20, 2006

 

SUBJECT:      House Changes to S.B. 1156 – internal revenue code conformity

________________________________________________________________________________                                                                                                                                                           

           

            As passed by the Senate, S.B. 1156 conforms the definition of the United States Internal Revenue Code (IRC) for tax year 2006 to the IRC definition in effect on January 1, 2006.

 

            The House of Representatives amended the bill to eliminate the increased time period for corporations to carry forward net operating losses and add a purpose statement.

 

Senate Action                                                             House Action

 

FIN                 1/19/06     DPA     9-0-0-0                  WM                 2/27/06     DPA     7-0-0-2

3rd Read           2/6/06                    27-0-3-0                3rd Read           6/20/06                  56-0-4-0    

 

SL/jas

 

cc:  All Senators