AZ SB1151

Amends sections 25-318 and 25-320 of Arizona Revised Statutes relating to dissolution of marriage, property division, and child support.

Modifies business valuation procedures by requiring courts to assess business value as of the petition service date unless extreme market conditions or party agreement warrant another date, and clarifies the non-owning spouse receives no share of business profits or liability after that date.

Establishes procedures for debt distribution agreements in dissolution cases, including required creditor notification forms, debt distribution plans, and recorded acknowledgments for real property-secured debts.

Requires courts to provide specific notice to parties about creditor responsibilities, community debt liability, and the limited binding effect of property division orders on non-party creditors.

Adds new provisions allowing parties earning at or above maximum child support income to stipulate income level and assume all uncovered medical expenses without providing income documentation unless upward deviation is warranted.