The bill, H.B. 2900, proposes several amendments to existing laws related to commerce in Arizona, primarily focusing on financial management within the Department of Insurance and Financial Institutions (DIFI). Key changes include increasing the cap on unencumbered funds in the DIFI Revolving Fund from $200,000 to $700,000 before excess funds must be transferred to the DIFI Receivership Revolving Fund. Additionally, the bill removes the requirement for excess funds in the Data Processing Acquisition Fund to revert to the state General Fund at the end of each year, and establishes a new Fraud Unit Assessment Fund to collect fees for the operation of the DIFI Fraud Unit, which will be continuously appropriated.

Furthermore, the bill repeals the Rural Broadband Accelerated Match Fund and the Microbusiness Loan Fund, with the latter set to be dissolved by July 1, 2025, transferring any remaining funds to the state General Fund. The bill also makes technical and conforming changes to ensure compliance with the new provisions. Overall, these amendments aim to streamline financial operations within DIFI and adjust funding mechanisms to better support the department's functions.

Statutes affected:
Introduced Version: 6-135, 20-466, 20-466.05, 35-190, 6-135.01, 41-3451, 20-466.01, 41-1822, 20-160, 20-466.04, 20-441, 35-146, 35-147
House Engrossed Version: 6-135, 18-441, 20-466, 20-466.05, 35-190, 6-135.01, 41-126, 35-146, 35-147, 41-3451, 20-466.01, 41-1822, 20-160, 20-466.04, 20-441
Chaptered Version: 6-135, 18-441, 20-466, 20-466.05, 35-190, 6-135.01, 41-126, 35-146, 35-147, 41-3451, 20-466.01, 41-1822, 20-160, 20-466.04, 20-441