The bill, HB2377, mandates the Joint Legislative Budget Committee (JLBC) to conduct a comprehensive cost and revenue study regarding the management of federal lands in Arizona that are not under the control of the U.S. Department of Defense, Bureau of Indian Affairs, or Bureau of Reclamation. The study will assess the annual costs associated with managing these lands and the revenues generated from them. Additionally, the JLBC is required to assume that the control and management of these federal lands will be transferred to Arizona at no cost to the state.

Key changes from current law include the explicit requirement for the JLBC to conduct a cost and revenue study, the inclusion of specific state agencies that must cooperate with the JLBC, and the ability for the JLBC to coordinate with federal agencies and Congress for relevant information. The bill also establishes a deadline for the JLBC to submit the study to state leadership within one year of the effective date and includes a repeal clause for the study after December 31, 2025. Notably, the requirement for the Auditor General's participation in the study has been removed.