Bill > SB1565

This bill amends Arizona law concerning the residential contractors' recovery fund, which is established to compensate individuals harmed by licensed residential contractors' violations. Key changes include clarifying eligibility criteria for claimants, such as homeowners, limited liability companies, trusts, planned communities, and lessees, by allowing the use of specific tax code criteria to determine primary residence status. The bill also increases the maximum individual award from the fund from $30,000 to $40,000 and raises the aggregate liability limit per contractor's license from $200,000 to $300,000. Additionally, it modifies the process for claimants to pursue recovery, including how they must proceed against a contractor's bond, and adjusts the registrar's administrative duties and spending limits for public awareness and operational support. The bill also clarifies that a claimant's recovery from other sources will be deducted from their actual damages before payment from the fund.

Government Affairs

https://apps.azleg.gov/BillStatus/BillOverview/85178