The proposed bill, if enacted, would amend current statutes by establishing a specific penalty for the Town of Wellton for exceeding its constitutional expenditure limitation during the fiscal year 2022-2023. The new language specifies that the penalty will be set at $100, overriding existing provisions in section 41-1279.07, subsections H and I of the Arizona Revised Statutes, which govern penalties for excess expenditures.

Additionally, the bill includes a retroactive application clause, stating that the provisions of this act would apply from and after June 30, 2022. This means that the penalty would be enforceable for any excess expenditures that occurred during the specified fiscal year, ensuring that the Town of Wellton is held accountable for its financial management in accordance with the new law.

Statutes affected:
Introduced Version: 45-576.11
Senate Engrossed Version: 45-576.11