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AZ HB2396
Bill
Status
4/29/2013
Primary Sponsor
John Kavanagh
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AI Summary
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Establishes the consumer restitution and remediation revolving fund administered by the attorney general, consisting of a consumer restitution subaccount and a consumer remediation subaccount for monies collected from consumer protection settlements and judgments.
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Directs monies received from compromises and settlements by the attorney general (excluding restitution, costs, and attorney fees) to be deposited in the state general fund, with quarterly reporting requirements to the governor, legislature, and joint legislative budget committee.
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Creates a consumer remediation subaccount with up to $3.5 million annually in continuous appropriation for consumer fraud education and programs to rectify consumer protection violations, with excess amounts subject to legislative appropriation.
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Authorizes courts to order disgorgement of profits, gains, and gross receipts from unlawful consumer practices to be deposited in the consumer remediation subaccount rather than the consumer fraud revolving fund.
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Amends multiple Arizona statutes (sections 35-142, 37-109, 41-192, 44-1522, 44-1528, and 44-1531.01) to clarify handling of settlement monies, alternative payment methods, and attorney general authority over consumer protection enforcement funds.
Legislative Description
Attorney general; compromises; settlements; deposit
Last Action
Governor Signed
4/29/2013