AZ SB1565

Increases the maximum individual award from the Residential Contractors' Recovery Fund from $30,000 to $40,000 for homeowners damaged by contractor violations.

Raises the total fund liability limit per contractor's license from $200,000 to $300,000.

Increases the registrar's allowable administrative spending from 14% to 20% of total fund deposits from the prior fiscal year for processing and opposing claims.

Eliminates the separate $10,000 annual cap for employing accountants and attorneys from fund monies.

Clarifies that claimants satisfy bond requirement by sending a demand to the surety and receiving a determination, and allows primary residence status to be established using criteria from property tax assessment rules.