This bill proposes to amend section 20-466 of the Arizona Revised Statutes by increasing the annual assessment fee for insurers authorized to transact business in the state from $1,050 to $1,350. This change aims to enhance the funding for the administration and operation of the fraud unit and the prosecution of fraud cases. The collected fees will continue to be deposited into the fraud unit assessment fund as established by existing law.

Additionally, the bill includes provisions for retroactive application, stating that the amended section 20-466 will apply from June 30, 2026, and outlines that the act will only take effect upon receiving an affirmative vote of at least two-thirds of the members of each legislative house, or immediately upon the governor's signature, or following a three-fourths vote if vetoed.

Statutes affected:
Introduced Version: 20-466