The proposed bill would amend section 9-500.39 of the Arizona Revised Statutes to provide specific regulatory powers to cities and towns with populations under seventy thousand. It would allow these municipalities to establish a maximum number of vacation rental or short-term rental permits or licenses that can be issued, as well as set a minimum distance requirement between such rentals.

In addition to these new provisions, the bill would remove the existing subsection labeled "L" from the current law, which is replaced by a new subsection "m" that continues to define the purposes of the section. Overall, the bill aims to enhance local control over vacation and short-term rental regulations in smaller communities.