AZ HB2525

Removes the requirement that a licensee be "active" when requesting license cancellation, allowing any licensee to request cancellation if not under investigation and no disciplinary proceeding has been commenced.

Extends the validity period of a public report on subdivision lots from two years to five years for subdivisions seeking exemption from certain disclosure requirements.

Adds "and financing" language to clarify that changes related to ownership and financing do not require amendment to a public report for continued exemption eligibility.

Maintains all existing conditions for subdivision exemptions, including requirements for completed infrastructure, buyer disclosures, and subdivider compliance certifications.