SB1291 Summary

• Amends section 32-1126 of Arizona Revised Statutes regarding contractor license fees and assessments.

• Establishes specific assessment amounts for residential contractor licenses: $370 for initial licenses and $270 for license renewals (replacing the previous "not more than $600" standard).

• Creates a mechanism to reduce assessments by 50% if the residential contractors' recovery fund exceeds $15,000,000 at fiscal year-end, with assessments reinstated when the fund drops below $10,000,000.

• Makes grammatical corrections changing "fee" to "fees" in the biennial license renewal section.