AZ SB1064

Establishes a "Model Local Liberty Charter" that municipalities can adopt to impose lasting limitations on their taxing, spending, regulatory, eminent domain, and planning/zoning authorities

Requires municipalities to process all regulatory applications within 120 days or the application is automatically approved; prohibits regulation of peaceful activities unless they pose a verified, substantial threat to public health, safety, or welfare

Limits eminent domain compensation to at least 110% of fair market value plus relocation expenses, lost income, and attorney fees; restricts impact fees to situations where existing tax revenues are insufficient for new infrastructure

Mandates "managed competition" where municipal services (except core public safety) must be provided through competitive bidding between private contractors and municipal departments, with a seven-member independent review board overseeing the process

Requires municipalities to file for bankruptcy within 30 days if they have unpaid claims exceeding 10% of budget, miss pension payments, default on bonds, or fail to pay employees for 14+ days