AZ SB1087

Requires regulatory boards and agencies to review costs and fund balances annually by September 1 to determine if ending balances exceed 50% of appropriations from their licensing fund.

Mandates one-time fee waivers or reductions for existing licensees and new licensees if fund balance exceeds 50% of appropriation, with reductions applied to bring balance below 50% within one renewal cycle.

Requires boards and agencies to report fee plans to the Governor, President of the Senate, and Speaker of the House by September 1 each year, including revenues, expenditures, projected balances, and justification for fee reduction plans.

Requires boards and agencies to notify existing licensees by July 1 of any fee reduction or waiver and prominently announce the reduction on their website for both new and existing licensees.

Applies only to regulatory boards and agencies established under specified chapters of Title 32 Arizona Revised Statutes and Title 36, chapter 4, article 6.