The proposed bill would amend current statutes to allow cities in Arizona with populations under 10,000, located in counties with populations under 150,000, to hold special elections for the purpose of authorizing a transaction privilege tax (TPT). This provision would only apply if the city's charter mandates an election for TPT levies and if the city is currently levying a TPT that was approved by voters in 2020, which is set to expire on or before July 15, 2026.

Additionally, the bill specifies that these special elections must occur on either March 10, 2026, or May 19, 2026, and that the ballot must include the TPT rate, which must match the rate previously authorized by voters in 2020. The bill also includes a provision for its repeal on December 31, 2027. Overall, the bill introduces new language to facilitate the special election process for TPTs while maintaining existing laws that govern such elections.