AZ SB1268

Requires labor organizations collecting benefit monies or union dues to annually disclose to members and employers total revenue/expenditures, unit pricing by benefit category, cost of each benefit, payments made, and reconciliation of differences, with disclosure due within 60 days of fiscal year end and signed under penalty of perjury.

Mandates labor organizations use generally accepted accounting principles for benefit fund accounting and allows members to choose health and welfare, pension, vacation, sick or holiday benefits from their employer or outside providers instead of union-offered benefits.

Requires labor organizations to refund or deposit into defined contribution plans any fringe benefit contributions exceeding actual costs within 75 days after year end.

Prohibits labor organizations from accepting dues or contributions for employees who have not voluntarily joined and requires affirmative written consent from individuals before membership, dues withholding, or benefits contributions.

Applies to labor organizations collecting monies from Arizona residents or employers domiciled in Arizona, but excludes labor organizations for state, political subdivision, and federal government employees.