The proposed bill amends Arizona Revised Statutes by adding a new chapter that restricts agreements involving critical infrastructure between businesses or governmental entities in Arizona and companies owned or controlled by citizens of China, Iran, North Korea, or Russia. Under the new law, such companies would be prohibited from accessing or controlling critical infrastructure unless they meet specific exceptions, such as a determination by the Committee on Foreign Investment in the United States that there are no unresolved national security concerns or if the foreign citizens involved are also U.S. citizens.

Additionally, the bill grants the governor, in consultation with the Department of Public Safety, the authority to designate countries as threats to critical infrastructure. The definitions of "company" and "critical infrastructure" are also clarified, ensuring that the term "company" encompasses various business structures aimed at profit. Overall, the bill strengthens restrictions on foreign involvement in critical infrastructure to enhance national security.