HB 2727 proposes to amend the current contractor licensure laws in Arizona by increasing the handyman exemption from $1,000 to $2,500. This increase applies to various exemptions within the construction industry, including the handyman exemption, the exemption for the sale or installation of finished products, materials, or merchandise, and the exemption for persons working on one undertaking or project by one or more contracts. Additionally, the bill mandates that starting from January 1, 2024, the Registrar of Contractors must annually adjust these exemption amounts for inflation based on the GDP price deflator.

The bill also includes technical and conforming changes to align with the increased exemption amounts. It specifies that for each year beginning after December 31, 2023, the Registrar is required to adjust the dollar amount of the exemptions for inflation. This ensures that the exemptions remain relevant and proportionate to economic conditions over time.