This bill proposes several updates to the current statutes governing revitalization districts in Arizona, specifically focusing on construction contract payments and the use of infrastructure. Under the new provisions, a revitalization district would be prohibited from using any infrastructure until the contractor has been fully paid for their work. Additionally, the district cannot be dissolved if it owes money to a licensed contractor for infrastructure installation. The bill also mandates that all construction contracts comply with existing prompt payment statutes, ensuring that contractors are paid in a timely manner.

Furthermore, the bill introduces specific requirements for repayment agreements between landowners and revitalization districts, stipulating that bond proceeds cannot be used for repayments if any contractor has not been fully compensated. It also clarifies that municipalities cannot operate or allow the use of revitalization district infrastructure unless all contractor payments are settled. These changes aim to enhance accountability and protect contractors' rights while ensuring that revitalization districts operate within their financial means.

Statutes affected:
Introduced Version: 48-708, 48-709, 48-719, 48-720, 9-500.05, 11-1101, 32-2183
Senate Engrossed Version: 48-6808, 48-6809, 48-6811, 48-6819, 34-221, 48-6818, 9-500.05