New Business Laws

By Staff

New laws that went into effect recently will influence the way business is done in Arizona.

  • Mortgage fraud is now a felony. The new law criminalizes residential mortgage fraud to cut down on bad mortgage deals that inflate home prices.
  • Workers compensation: The cap on the monthly wage paid to injured workers rises to $3,000 from $2,400 in 2008. The cap rises to $3,600 in 2009.
  • Tax rebate penalties. Cities in Maricopa and Pinal counties that give tax rebates to retail developers will be penalized by having the same amount deducted from their portion of shared state revenues. The law is intended to stop city giveaways of taxpayers’ money in bidding wars to lure developers.
Copper theft prevention. Payments to people selling copper to scrap metal dealers must now be mailed to a physical address. In addition, buyers are required to keep records and photos of sellers.


This article appears in the November 2007 issue of Latino Perspectives Magazine.

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