Senate Bill 1684 proposes an appropriation of $3,000,000 from the state General Fund to Arizona State University (ASU) for the fiscal year 2024-2025 to support the Interplanetary Initiative. The bill outlines that the funds may be used for interdisciplinary space exploration research, technological advancement, innovation, and activities to support the space industry in Arizona. It also includes provisions for facilitating collaboration among various stakeholders, providing business development services, allowing access to university facilities for space-related research, and offering workforce development in space-related disciplines.

The bill requires ASU to submit a report by December 31, 2027, detailing the impact of the Interplanetary Initiative, including descriptions of funded projects and a summary of the economic impact in Arizona, such as the number of emerging companies supported, jobs created, and investment data. The appropriation is exempt from lapsing, with any unexpended and unencumbered monies reverting to the state General Fund on July 1, 2027.

Statutes affected:
Introduced Version: 36-136