Pub. 9 2019 Issue 2

23 ISSUE 2. 2019 Alisa Lacey » 602.212.8628 alisa.lacey@stinson.com Bob Monroe » 816.691.3351 bob.monroe@stinson.com Ernie Panasci » 303.376.8402 ernie.panasci@stinson.com Deborah Bayles » 303.376.8401 deborah.bayles@stinson.com LEGAL PARTNERS YOU CAN TRUST. Our advantage is simple —we understand the business. Stinson Leonard Street’s banking attorneys have broad experience in matters related to financial services, including commercial lending, mergers and acquisitions, regulations and compliance, litigation, bankruptcies and payment systems. Bank on our reputation and knowledge. Our Phoenix Office: 1850 North Central Ave., Suite 2100, Phoenix, AZ 85004 STINSON LEONARD STREET LLP \\ STINSON.COM \\ LAW OFFICES IN 13 U.S. LOCATIONS The choice of a lawyer is important and should not be based solely on advertisements. teacher pay. The budget also boosts pay for State troopers, correc- tional officers, caseworkers and more; adds more than $200 million for road and other infrastructure projects; and sets aside approxi- mately $500 million of this year’s surplus. The Rainy Day reserve will now stand at $1 billion. One of the Governor’s top legislative priorities was achieved when Arizona became the first state in the nation to provide universal rec - ognition of out-of-state occupational licenses. Under the new law, Arizona will automatically grant a professional license to anyone who becomes a resident and had possessed a similar license free of disciplinary action for at least a year in their prior state. The move earned national kudos for simplifying what had been among the nation’s most complex licensing schemes. As for the banking industry, the Association was busy checking and double-checking a long list of issues and spearheading the passage of a uniform commercial real estate receivership bill. Issues ranged from ensuring that the definitions in the Wayfair fix were right to making sure Glass-Steagall or state bank discussions never got off the ground. Other substantive issues included strong opposition to and defeat of a Concurrent Resolution supporting Congressman Biggs-sponsored legislation that would have taxed international money transmission to pay for the border wall. The Association worked with Senator Mesnard to align his legislation on the finan - cial exploitation of vulnerable adults with best practices and lessons learned from the passage of similar legislation in other states. A bill to adopt the Uniform Commercial Real Estate Receivership Act was the only proactive legislation pursued by the Association this year. Having confirmed a bill sponsor and drafted a bill aligned with Arizona statutes, the Association worked with a number of key legal minds in Arizona to further refine the bill. The Uniform Commer - cial Real Estate Receivership Act passed the Legislature and was forwarded to the Governor for signature. What was the 2019 session about anyway? It wasn’t like 2018, when #RedForEd dominated. Illegal immigration didn’t loom large. In truth, there was no single, overriding issue. The drought plan got done, sure. So did a ban on texting-and-driving. Tax conformity, too – but no single issue dominated the capitol. New regulations against youth vaping were debated but didn’t come to pass, and vaccinations was another hot topic that resulted in no change of State statutes. Charter school reform also came up short, though Sen. Kate Brophy McGee vowed to try again in 2020. We may well remember 2019 as a session between - between the 2018 and 2020 elections, when party control of the State House and Senate are in doubt. And between this time of relative economic prosperity and the next recession, long overdue. Maybe we’ll be glad for that Rainy Day Fund, after all. w