The proposed bill aims to update current statutes governing the securitization process for public power entities by introducing new requirements for transparency and public engagement. Key insertions include mandates for public notice of financing resolutions, the availability of securitization proposals, and the necessity for public meetings. Additionally, the bill specifies that applicants must submit detailed reports from qualified securities firms and outlines the criteria for the Arizona Corporation Commission (ACC) to approve financing orders, ensuring that transactions provide a net present value benefit to customers. The bill also clarifies that financing charges are mandatory and nonbypassable, with a true-up mechanism to address discrepancies in revenues.

Moreover, the bill establishes new definitions and provisions related to transition bonds and transition property, emphasizing that these bonds do not constitute public debt and are not obligations of the state or local governments. It introduces a framework for the management of transition property, ensuring that public power entities cannot hold ownership interests in it. The bill also outlines the process for rehearings and judicial review of financing orders, while protecting the validity of actions taken under the new chapter even if parts are invalidated. Overall, these updates aim to enhance the regulatory framework for public power entities, ensuring financial stability and consumer protection.

Statutes affected:
Introduced Version: 47-9109, 30-903, 30-905, 30-902, 30-904, 30-906, 30-907, 30-909, 30-908, 30-910, 30-911, 30-912, 40-302, 30-913, 30-914, 30-915, 30-916, 40-603, 40-606, 40-602, 40-604, 40-610, 40-605, 40-607, 40-608, 40-609, 40-252, 40-611, 40-253, 40-254, 40-254.01, 40-612, 40-613, 40-614, 40-615, 40-616, 40-617
House Engrossed Version: 47-9109, 30-903, 30-905, 30-902, 30-901, 30-904, 30-906, 30-907, 30-909, 30-908, 30-910, 30-911, 30-912, 40-302, 30-913, 30-914, 30-915, 30-916, 40-603, 40-606, 40-602, 40-601, 40-604, 40-610, 40-605, 40-607, 40-608, 40-609, 40-252, 40-611, 40-253, 40-254, 40-254.01, 40-612, 40-613, 40-614, 40-615, 40-616, 40-617
Senate Engrossed Version: 47-9109, 30-903, 30-905, 30-902, 30-901, 30-904, 30-906, 30-907, 30-909, 30-908, 30-910, 30-911, 30-912, 40-302, 30-913, 30-914, 30-915, 30-916, 40-603, 40-606, 40-602, 40-601, 40-604, 40-610, 40-605, 40-607, 40-608, 40-609, 40-252, 40-611, 40-253, 40-254, 40-254.01, 40-612, 40-613, 40-614, 40-615, 40-616, 40-617
Chaptered Version: 47-9109, 30-903, 30-905, 30-902, 30-901, 30-904, 30-906, 30-907, 30-909, 30-908, 30-910, 30-911, 30-912, 40-302, 30-913, 30-914, 30-915, 30-916, 40-603, 40-606, 40-602, 40-601, 40-604, 40-610, 40-605, 40-607, 40-608, 40-609, 40-252, 40-611, 40-253, 40-254, 40-254.01, 40-612, 40-613, 40-614, 40-615, 40-616, 40-617