If enacted, this bill would amend current statutes by establishing a specific penalty for the Town of Wellton for exceeding its constitutional expenditure limitation. The new provision would set the penalty at $100 for excess expenditures of local revenues during the fiscal year 2022-2023, overriding existing regulations outlined in section 41-1279.07, subsections H and I of the Arizona Revised Statutes.

Additionally, the bill includes a retroactive application clause, stating that the act applies from and after June 30, 2022. This means that the penalty would be enforceable for the specified fiscal year, ensuring that the Town of Wellton is held accountable for any excess spending that occurred during that time. The current law remains unchanged except for this specific insertion regarding the penalty and its retroactive effect.

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