RioSlum Studio

Arizona Homestead Exemption Amendment Act

Senate Bill 1543 amends Arizona Revised Statutes to facilitate the development of international headquarters campuses by allowing municipalities with populations between 200,000 and 500,000 to permit ancillary uses like multifamily housing and hotels. These uses can be approved without public hearings if they meet criteria related to employment and occupancy restrictions. The bill aims to attract corporate headquarters to Arizona, enhancing economic development. It also establishes regulations for building permits, occupancy, and the designation of affordable housing units. The legislation emphasizes the importance of these developments for the state's economic prosperity.1