AZ HB2440

Requires public bodies and their insurance providers to maintain public records of all settled claims, with written settlement agreements required for claims exceeding $50,000 or 1% of the public body's annual budget, whichever is less.

Settlement agreements must include a brief description of the claim, the parties released, and the amount of financial compensation paid, and are considered public records except as otherwise provided by statute.

Mandates that settlement agreements over the $50,000 or 1% threshold be included as agenda items at the next public meeting of both the insurance provider and the public body for informational purposes or approval if required.

Prohibits confidentiality or nondisclosure clauses in settlement agreements from withholding the agreement, claim, or related public records from public disclosure, though parties are not required to comment on the settlement.

Excludes claims related to insured or self-insured health insurance contracts from these requirements.