HB 2054 Arizona House · 57th Legislature - First Regular Session

DIFI; financial enterprises; insurance; compact

HB 2054 amends Arizona's licensing rules for financial businesses including consumer lenders, debt management companies, escrow agents, and advance fee loan brokers. It standardizes license renewal deadlines to December 31 annually (previously June 30 for some), adds a $25 daily late fee for overdue applications, and clarifies that licenses expire January 31 if not renewed by December 31. The bill requires businesses to prominently display licenses in all offices and obtain separate branch office licenses for additional locations. These changes directly affect licensed financial enterprises operating in Arizona by streamlining renewal processes and enforcing stricter deadlines.

Bill status signed all 5 stages cleared

Introduction

Jan 2025

Committee Review

Jan 2025

House Passage

Feb 2025

Senate Passage

Jun 2025

Signed into Law

Jun 2025

Introduced Jan 8, 2025 Signed Jun 25, 2025

Maddy AI version diff · 3 comparisons

What changed between versions

Senate Engrossed Version → Chaptered Version · 1 edit

MINOR

The bill was finalized into a Chaptered Version, incorporating minor text formatting adjustments and reflowing lines to match official publication standards. No substantive policy changes, new laws, or alterations to eligibility, funding, or enforcement mechanisms were introduced; the core legislative text remains identical to the previous version.

Scope change

No change in scope or applicability; the bill's subject matter and legal effect remain unchanged.

TECHNICAL

Minor formatting adjustments and text reflowing were applied to align the document with official chaptered publication standards.

House Engrossed Version → Senate Engrossed Version · 7 edits · Jun 19, 2025

MODERATE

This bill updates Arizona's insurance laws to address wildfire risks, modernize claims processes, and improve oversight of the interstate insurance product regulation compact. Key changes include requiring insurers to report homeowners policy data in high-risk fire areas, creating a new task force to review wildfire insurance trends, allowing electronic communications for motor vehicle claims, and adding new sections to the interstate insurance compact.

Scope change

The bill expands the scope of reporting requirements to include specific data on homeowners policies in heightened fire risk areas and creates a new oversight mechanism (the Fire Insurance Review Task Force) to monitor wildfire-related insurance issues.

REQUIREMENT

Added new requirement for homeowners insurers to report detailed policy data (including premium, claims, and cancellation reasons) for policies in designated wildfire risk areas by April 1 each year.

Added new requirement for motor vehicle insurers to accept electronic communications for claims and acknowledge receipt within ten business days.

Added new requirements for health care insurers regarding medical directors who can review prior authorization denials, including expanded qualifications for dental, optometric, and chiropractic service corporations.

ENFORCEMENT

Created a new Fire Insurance Review Task Force with members from the insurance industry, wildfire risk organizations, and the state forester to review data and make recommendations on building codes and wildfire prevention.

TIMELINE

Extended license renewal deadlines for certain insurance licenses from June/September 2025 to December 31, 2025.

DEFINITION

Added new sections 20-123 and 20-127 to Arizona Revised Statutes establishing reporting requirements and the task force, with delayed repeal scheduled for December 31, 2027.

TECHNICAL

Made formatting and organizational changes to the interstate insurance product regulation compact text, including renumbering sections and clarifying language about meeting procedures and rulemaking.

Floor votes · Senate Jun 19, 2025 · House Feb 6, 2025

How they voted

29–0

Passed · 1 other

Total votes 30

Jun 19, 2025

D Democratic13

13 Yea

100% Yea

R Republican17

16 Yea 1

94% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 25, 2025

Signed into law

Signed by Governor

executive

Jun 19, 2025

Upper · Passed

PASSED

upper

Jun 19, 2025

Upper · Passed

DPA

upper

Mar 24, 2025

Upper · Passed

DPA

upper

Feb 6, 2025

Lower · Passed

PASSED

lower

Jan 21, 2025

Lower · Passed

lower

1 primary · 0 co-sponsors