AZ HB2692

Amends Arizona Revised Statutes section 36-2804 to add new eligibility requirements for nonprofit medical marijuana dispensary registration, including that principal officers and board members must not have filed personal or corporate bankruptcy, must have submitted Arizona personal income tax returns for the previous three years, and must have been Arizona residents for at least three years.

Requires that principal officers and board members be current on court-ordered child support, not delinquent in paying taxes or penalties to the government, have no unpaid judgments to the government, and not be in default on government-issued student loans.

Establishes a 30-calendar-day application window beginning June 1, 2012 for dispensary registration certificate applications submitted under the amended statute.

Requires an affirmative vote of at least three-fourths of the members of each house of the legislature for section 36-2804 to become effective, as mandated by Arizona Constitution article IV, part 1, section 1.

Designates the act as an emergency measure necessary to preserve public peace, health, or safety, making it operative immediately.