This bill proposes updates to the statutes governing revitalization districts, specifically amending section 48-6808 of the Arizona Revised Statutes. The current law allows revitalization districts to enter into contracts and spend money for infrastructure purposes but does not specify requirements for construction contracts. The bill introduces new provisions that require any construction contract entered into by a revitalization district to include specific terms regarding payment and performance. These provisions allow contractors and subcontractors to suspend or terminate contracts under certain conditions related to timely payments, and they establish notice requirements for such actions.

Additionally, the bill mandates that contracts must include clauses for the award of reasonable attorney fees to the successful party in disputes and stipulates how written notices regarding contract suspensions or terminations should be delivered. The updates aim to protect contractors and subcontractors by ensuring they are not deemed in breach of contract for suspending performance due to non-payment by the district or the general contractor. Overall, these changes are designed to enhance the contractual framework for revitalization district infrastructure projects, ensuring timely payments and clear communication between parties involved.

Statutes affected:
Introduced Version: 16-921.01
Senate Engrossed Version: 16-921.01
House Engrossed Version: 48-6808
Chaptered Version: 48-6808