The proposed bill would significantly update current statutes related to the issuance and management of Transition Bonds by public power entities. Key provisions include a new process for public power entities to initiate securitization transactions, which requires public notice of intent, detailed proposals, and a public meeting within 30 to 60 days of notice publication. It mandates that the Arizona Corporation Commission (ACC) must issue a financing order within 120 days of application, with specific criteria to ensure that the transaction benefits customers by lowering costs. Additionally, the bill introduces a framework for Transition Property, clarifying that it is a vested right belonging to a qualified special purpose entity and establishing that financing charges are nonbypassable and mandatory for all customers. Moreover, the bill removes the requirement for securitization proposals to identify unrecovered fuel costs and clarifies that the approval of a financing resolution does not obligate entities to proceed with the transaction, nor does it incur regulatory penalties for not doing so. It also allows for the use of expert consultants in the review process and sets strict timelines for court decisions regarding financing resolutions. Overall, these updates aim to enhance regulatory clarity, streamline the securitization process, and ensure that financing mechanisms are beneficial to customers while maintaining the integrity of public power entities.

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