AZ SB1500

Lowers the threshold for HOA assessment increases from 20% to 3% before requiring member approval, and raises the required approval percentage from a simple majority to 67% of members for both condominiums and planned communities.

Requires HOA boards to provide detailed financial justification before approving assessment increases or vendor contract increases, including line-by-line budget details, year-over-year expense comparisons, and detailed cost breakdowns.

Prohibits vague statements such as "potential increase" or "projects to be determined" from satisfying the detailed information requirement for proposed assessment increases.

Maintains existing provisions allowing members to respond in writing within 21 days to violation notices and requiring associations to provide written explanations within 10 business days of receiving member responses.

Preserves members' rights to petition for administrative hearings through the state real estate department for disputes covered under existing jurisdiction.