AZ HB2129

Amends Arizona Revised Statutes Section 32-2101 to modify the definition of "improved lot or parcel" in real estate law.

Extends the construction timeline for condominiums from two years to four years after the date a contract for sale is entered into, matching the extended timeframe already applicable to residential, commercial, and industrial buildings.

Maintains the existing definition for non-condominium improved lots or parcels that require either an existing building or a contract obligating construction within two years.

Became effective upon approval by the Governor on April 2, 2024.