This bill proposes to amend existing statutes by redirecting the FY 2024 appropriation of $15,300,000 from a nonprofit organization operating a rodeo at the Yavapai County Fairgrounds to the City of Prescott for the renovation and repair of the city's rodeo grounds. The current law specifies that the funds were to be distributed to the nonprofit organization, but this bill will replace that language with a provision for the City of Prescott instead.

Additionally, the bill includes a provision that exempts the appropriation to the City of Prescott from lapsing, ensuring that the funds remain available for their intended purpose. It also makes conforming changes to the existing statutes to reflect these updates. If a court rules that the funds cannot be distributed as originally intended, the bill maintains the stipulation that the funds will revert to the state general fund within sixty days of a final judgment.