This bill amends section 9-462.10 of the Arizona Revised Statutes to establish new requirements for municipalities with populations of 150,000 or more regarding multifamily residential development and adaptive reuse of existing commercial, office, or mixed-use parcels. The current law required municipalities to establish objective standards by January 1, 2025, allowing multifamily development on up to 10% of existing commercial properties. The new bill accelerates this timeline to within 30 days of the amendment's effective date and mandates that at least 10% of existing parcels be eligible for such development without requiring conditional use permits or public hearings. It also prohibits municipalities from designating individual parcels as eligible and restricts exclusions based on sound levels and existing development.

Additionally, the bill clarifies that municipalities must not withhold demolition permits for qualifying multifamily developments and adaptive reuse projects. It introduces stricter guidelines for setbacks and height limitations, ensuring that existing structures can remain nonconforming while allowing for expansion to maximum allowable density. The bill also retroactively applies to December 31, 2024, and is classified as an emergency measure, making it effective immediately. Overall, the changes aim to streamline the process for multifamily housing development and adaptive reuse while ensuring compliance with local zoning regulations.