This bill proposes several updates to the Arizona Revised Statutes, specifically amending sections related to public infrastructure improvements. It introduces new provisions under section 42-5032.03, which allows for the disclosure of information regarding tax revenues related to residential developments. The bill also modifies the distribution of tax revenues collected from businesses, ensuring that a portion is designated for public infrastructure improvements that benefit residential developments. Notably, it establishes a framework for cities, towns, or counties to receive funding for these improvements, contingent upon certain conditions, such as the total cost of the improvements and the execution of written agreements.

Additionally, the bill clarifies the definitions of terms such as "associated improvement," "public infrastructure," and "residential development," ensuring that all parties involved have a clear understanding of the requirements and processes. It also mandates that the state treasurer cease payments if a city, town, or county exceeds the allowable amount for public infrastructure improvements. Overall, the bill aims to streamline the funding process for public infrastructure related to residential developments while ensuring accountability and proper use of tax revenues.