AZ SB1497

Repeals sections 9-500.39 and 11-269.17 of Arizona Revised Statutes relating to vacation rental and short-term rental regulations.

Adds vacation rental and short-term rental regulations to the exemption list under section 12-1134, preventing property owners from claiming diminution in value compensation when such regulations are enacted.

Defines "vacation rental" and "short-term rental" as single-family to four-family dwellings or condominium/cooperative/timeshare units offered for transient use and not classified for property taxation under section 42-12001.

Removes provisions in section 42-2003 that allowed counties, cities, and towns to redisclose vacation rental and short-term rental taxpayer information to non-elected officials for enforcement purposes.

Expands the definition of "online lodging operator" in section 42-5042 to include owners of vacation rentals or short-term rentals not offered through online lodging marketplaces, requiring them to obtain transaction privilege tax licenses.