A new bill authored by State Rep. Kolodin in the Arizona House seeks to clarify and update the regulatory framework governing securities transactions in the state, according to the Arizona State House.
The bill, introduced as HB2048 on Jan. 8, ahead of the official start of the 57th Legislature’s first regular session on Jan. 13, was formally listed with the short title: ‘sales of securities; definition’.
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
In essence, this bill amends section 44-1801 of the Arizona Revised Statutes concerning the sales of securities. It revises definitions within the statutes, clarifying terms like “blind pool offering,” which refers to securities offerings that lack specific operational plans or allocation of proceeds. It also defines “commodity,” excluding numismatic coins valued more than 15% above their metal content, real property, or works of art sold by dealers. Additionally, it outlines definitions for “commodity investment contracts” and “commodity options,” noting their speculative nature, and introduces the term “crowdfunding.” The bill revises the definition of “dealer,” excluding certain buyers and sellers of securities. It further elaborates on terms such as “real property investment contract,” “viatical or life settlement investment contract,” and “virtual coin,” each with specific characteristics and exclusions. These changes aim to update and clarify the regulatory framework for securities transactions in Arizona.
Since the beginning of the session, Kolodin has proposed another 12 bills, with five of them being adopted.
Kolodin graduated from Georgetown University with a BA and again from University of Pennsylvania Carey Law School with a JD.
Kolodin, a Republican, was elected to the Arizona State House in 2023 to represent the state’s 3rd House District, replacing previous state representative Alma Hernandez.
In Arizona, the legislative process begins when a bill is introduced in either the House of Representatives or the Senate. It is then assigned to one or more committees for discussion and possible amendment. If approved by committee, the bill proceeds to floor debate and voting in both chambers. If both chambers pass the bill, it is sent to the governor, who may sign it into law, veto it, or allow it to become law without a signature. The Arizona Legislature convenes annually in regular session starting the second Monday in January. Lawmakers introduce hundreds of bills each session, though only a portion make it into law. You can learn more about the legislative process on the Arizona State Legislature website.
Bills Introduced by Alexander Kolodin in Arizona House During 1st Regular Session of the 57th Legislative Session
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| HB2048 | 01/08/2025 | This bill amends section 44-1801 of the Arizona Revised Statutes concerning the sales of securities. It revises definitions within the statutes, clarifying terms like “blind pool offering,” which refers to securities offerings that lack specific operational plans or allocation of proceeds. It also defines “commodity,” excluding numismatic coins valued more than 15% above their metal content, real property, or works of art sold by dealers. Additionally, it outlines definitions for “commodity investment contracts” and “commodity options,” noting their speculative nature, and introduces the term “crowdfunding.” The bill revises the definition of “dealer,” excluding certain buyers and sellers of securities. It further elaborates on terms such as “real property investment contract,” “viatical or life settlement investment contract,” and “virtual coin,” each with specific characteristics and exclusions. These changes aim to update and clarify the regulatory framework for securities transactions in Arizona. |
| HB2047 | 01/08/2025 | The bill amends section 10-1331 of the Arizona Revised Statutes concerning the allocation of court costs and attorney fees in appraisal proceedings related to dissenters’ rights. It stipulates that the court shall determine all costs of the proceeding, including reasonable compensation for any court-appointed master, and typically assess these costs against the corporation involved, unless it finds that the dissenters acted arbitrarily or in bad faith, or if the fair value does not significantly exceed the offer. Attorney and expert fees may be assessed against either the corporation or dissenters depending on the court’s findings regarding compliance, fairness, and conduct during negotiations. Additionally, if a dissenter’s attorney provides substantial benefits to other similarly situated dissenters, the court may award reasonable fees from the awarded amount to benefit those dissenters. |
| HB2046 | 01/08/2025 | This bill amends Section 16-602 of the Arizona Revised Statutes to establish detailed procedures for hand counts of votes cast on electronic machines or tabulators during elections. It mandates random hand counts for at least two percent of precincts, or two precincts, whichever is greater, selected without computer assistance. The bill outlines eligibility criteria and compensation for individuals conducting hand counts, requires video recordings by party observers, and lists the types of races to be hand-counted. It also specifies steps for expanding hand counts if discrepancies exceed a designated margin, necessitating counts up to the entire jurisdiction for particular races. For early ballots, a manual audit will be conducted on a randomly chosen batch equal to one percent or 5,000 of total early ballots, whichever is less. The bill demands expanding audits to more ballots if discrepancies continue and requires timely completion of hand counts before the election canvass. Furthermore, it provides guidelines for public reporting of results, review of source codes in case of expanded counts, and establishes a verification committee to set review margins. The bill will be effective upon passage. |
| HB2045 | 01/08/2025 | This bill amends several sections of the Arizona Revised Statutes related to election conduct, focusing on the arrangement and rotation of candidate names on ballots. It mandates that candidate names be rotated so each candidate’s name appears an equal number of times at different positions on the ballot, aiming for fairness across election precincts, except where voting machines are used. For optical scanning systems, the bill outlines specific print requirements and sample ballot provisions. Additionally, it requires alternative layouts for candidate listings depending on the voting method and election type, ensuring consistency and clarity for voters. From 2027, political parties on ballots will also be alternated to appear equally across top, middle, and bottom positions. The bill includes detailed instructions on ballot layout, emphasizing uniformity and voter accessibility in marking selections. |
| HB2044 | 01/08/2025 | The bill amends Arizona Revised Statutes to add section 44-1975, granting individuals the right to a jury trial when they are the subject of a commission securities proceeding. This change ensures that any person involved in such proceedings can opt for their case to be heard by a jury, rather than solely by a commission or judge. The bill’s effective date is not specified within the provided text. |
| HB2043 | 01/08/2025 | This bill amends section 13-2921 of the Arizona Revised Statutes, specifying acts that constitute harassment and their classifications. Harassment includes knowingly and repeatedly performing actions such as unwanted communications, following a person in public despite requests to stop, surveillance, making false reports to agencies, and interfering with utility services, all with intent to harass. Harassment against public officers or employees includes filing nonconsensual liens without proper authorization. Defenses include actions directed at public officials constituting criticism. The bill does not apply to lawful demonstrations or actions by regulated investigators, peace officers, or process servers within their duties. Harassment is classified as a class 1 misdemeanor, while harassment against public officials involving nonconsensual liens is a class 5 felony. |
| HB2042 | 01/08/2025 | This bill amends Arizona Revised Statutes section 13-1202 to clarify offenses related to threatening or intimidating. It specifies that a person commits such an offense if they intentionally convey a “true threat,” defined as a threat that a reasonable person would interpret as a serious intention to inflict bodily harm or death, and the target believes it to be genuine. Threatening under this criterion is a class 1 misdemeanor, which elevates to a class 6 felony if committed in retaliation for criminal activity reporting or if done by a criminal street gang member. However, threatening to further criminal gang activities or racketeering is a class 3 felony. The amendment aims to ensure the statute aligns with First Amendment rights, as guided by a state Court of Appeals ruling. The effective date is not specified within the document. |
| HB2041 | 01/08/2025 | This bill amends section 49-552 of the Arizona Revised Statutes to enhance air quality enforcement on properties managed by various local government entities. It mandates that cities, towns, counties, school districts, and special districts prohibit parking of non-compliant vehicles in employee parking lots within designated areas A or B, as defined in section 49-541. This initiative aims to ensure that vehicles parked on these properties adhere to air quality standards outlined in section 49-542, thereby reinforcing efforts to mitigate air pollution in specific regions. |
| HB2040 | 01/08/2025 | This bill amends Arizona’s Section 32-1299.25 related to dentistry, specifically focusing on informed consent for treatments carried out by mobile dental facilities or portable dental units. It mandates that consent, either written or verbally recorded, be obtained from the patient or their guardian before treatment, with the consent documentation becoming part of the patient’s official record as per Section 32-1264. For minors, the consent must inform the guardian that such treatments may impact the minor’s future insurance benefits. Additionally, after each treatment, a comprehensive information sheet must be provided to the patient, detailing contact information, the names of the dental professionals involved, descriptions and costs of treatments, and any necessary referrals. If institutional consent has been given, this information sheet must also be shared with the respective institution. |
| HB2039 | 01/08/2025 | This bill amends Section 32-2203 of the Arizona Revised Statutes to require the chairperson of the veterinary board to submit an annual report to the governor by Oct. 1 each year. The report must summarize licenses or certificates that were denied, suspended, or revoked, as well as licensees who were censured and placed on probation, along with a financial statement for the preceding fiscal year. Additionally, any board member is allowed to submit a separate report to the governor by the same deadline, including their comments on the board’s licensing and disciplinary activities for the previous fiscal year. |
| HB2038 | 01/08/2025 | This bill amends Section 32-742.01 of the Arizona Revised Statutes, concerning investigations related to certified public accountants. It outlines a process whereby the board, upon its own initiative or following the receipt of a complaint or information, may conduct an initial analysis to determine if there is reasonable cause to believe in a violation of applicable rules or statutes. If such cause is found, the board can open an investigation file and potentially initiate disciplinary proceedings. Initial analysis and any subsequent investigation may involve individuals of suitable expertise assisting the board. The bill provides options for the board, following an investigation, to request further investigation, initiate voluntary interviews, or issue recommendations such as dismissals and consent orders. If no reasonable cause is found, the investigation is closed. |
| HB2037 | 01/08/2025 | This bill amends section 32-1634.01 of the Arizona Revised Statutes relating to the licensing of international registered nurses. An applicant who graduated from an international nursing program not licensed in the U.S. and not meeting certain existing requirements must submit a credential evaluation report confirming their program’s equivalency, evidence of English proficiency, a report verifying international license status, pass a specified examination, and provide a felony conviction statement. If these and other chapter requirements are met, the board will issue a license despite the lack of graduation from a board-approved program. The board may mandate retesting if examination security concerns arise. |
| HB2031 | 01/08/2025 | This bill repeals various sections and chapters of the Arizona Revised Statutes regarding state agencies, boards, and commissions, indicating an aim to streamline or reduce government regulation. It amends remaining sections to reflect these repeals, such as changes to the Arizona Department of Agriculture’s structure and authority, and adjusts statutory references accordingly. The bill revises laws concerning agriculture, education, transportation, health care, telecommunications, and public safety, among others, by removing outdated or redundant provisions and transferring certain responsibilities, such as pest control management, entirely to relevant departments. Additionally, some exemptions from procurement and regulatory requirements are outlined for specific state departments and functions. The effective date of the bill’s provisions is to be determined following its enactment. |
