AZ HB2732

Requires legislators and their spouses or dependents to divest from or place all covered investments into a blind trust within 60 days of taking office.

Covered investments include securities, commodities, futures, investment funds, trusts (other than blind trusts), and employee benefit plans, but exclude diversified mutual funds, exchange-traded funds, U.S. treasury instruments, and government retirement plans.

Requires legislators to report divestiture or blind trust placement to the applicable legislative ethics committee, with possible extensions approved by that committee.

Violators who knowingly fail to file, file incomplete, or file false reports face class 2 misdemeanor charges and civil penalties of $50 per day of noncompliance, capped at $500.

Defines "blind trust" as requiring an independent trustee (financial institution, attorney, CPA, broker, or investment advisor) with no employee affiliation, partnership involvement, or family relationship to the legislator.