Arizona HB2496 amends revitalization district powers, focusing on construction contract provisions.

Arizona HB2496 amends the powers of revitalization districts, particularly concerning construction contracts. It allows contractors and subcontractors to suspend or terminate contracts if the district fails to make timely payments or if the contractor fails to pay the subcontractor. The bill mandates written notice periods and specifies that neither the contractor nor the subcontractor is in breach for such actions. The changes apply to contracts executed after the act's effective date.

Arizona HB2496 amends revitalization district powers, focusing on construction contract provisions.

Arizona HB2496 amends the powers of revitalization districts, particularly concerning construction contracts. It allows contractors and subcontractors to suspend or terminate contracts if the district fails to make timely payments or if the contractor fails to pay the subcontractor. The bill mandates written notice periods and specifies that neither the contractor nor the subcontractor is in breach for such actions. The changes apply to contracts executed after the act's effective date.