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 the funds are to be distributed to a nonprofit organization, which will be removed from the statute, and the new language will specify that the funds will instead go to the City of Prescott.

Additionally, the bill includes provisions to exempt 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 previously intended, the bill maintains that the funds will revert to the state general fund, but now this applies to the new recipient, the City of Prescott, as amended by this act.