By now most of you know the Legislature passed and the Governor signed the Arizona Drought Contingency Plan. Listen for a few quick highlights of the plan. Within 12 hours of the plan passing and being signed into law, the Department of Interior declared it was not adequate, but has thus far not given details on what exactly is not adequate. Water policy makers and elected officials are hopeful for clarification soon.
The 2018 tax year is the first to come under the tax reform rules from 2017. The new rules affect almost every business and individual filing income taxes. There are rule changes for residential rental property income and 1031 exchanges as well.
In January WeMAR hosted Jack Greacen at our Government Affairs Advisory Council Meeting. See the video and listen for more information on the meeting.