The proposed bill would amend current statutes by adding a new chapter to Title 44 of the Arizona Revised Statutes, specifically addressing agreements involving critical infrastructure. Under the new provisions, businesses and governmental entities in Arizona would be prohibited from entering into agreements with companies that could access or control critical infrastructure if those companies are owned or controlled by citizens or governments of China, Iran, North Korea, or Russia. Exceptions to this prohibition would apply if the Committee on Foreign Investment in the United States (CFIUS) determines there are no unresolved national security concerns, or if the individuals involved are dual citizens of the United States and one of the specified countries.

Additionally, the bill would empower the Governor, in consultation with the Department of Public Safety, to designate countries as threats to critical infrastructure. It would also define key terms such as "company" and "critical infrastructure," ensuring clarity in the application of these regulations. Overall, the bill aims to enhance the security of critical infrastructure in Arizona by restricting foreign influence from specific nations deemed as threats.