The proposed bill seeks to update current statutes by establishing a formal process for public power entities to initiate securitization transactions, which includes new requirements for public notice and public meetings. Specifically, it mandates that public power entities provide details about the financing resolution and make the securitization proposal available to the public. Additionally, the bill introduces provisions that require applicants to submit detailed applications to the Arizona Corporation Commission (ACC) and outlines criteria for the approval of securitization proposals, emphasizing transparency and the need for lower costs for customers.

Moreover, the bill includes significant updates regarding the management of transition bonds, such as defining key terms, clarifying the rights associated with transition property, and ensuring that financing charges are nonbypassable. It establishes a true-up mechanism for financing revenues and outlines the conditions under which financing orders remain effective during bankruptcy proceedings. The bill also protects the validity of financing orders and transition property from legal challenges, ensuring that these financial structures remain intact regardless of changes in the status of the public power entities involved. Overall, these updates aim to enhance the regulatory framework for utility securitization while safeguarding consumer interests.

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