If enacted, this bill would update current statutes regarding the management of state buildings by establishing specific rental rates for state-owned properties for the fiscal year 2025-2026. The bill would insert new language specifying that the capital outlay stabilization fund rental rates are set at $17.87 per square foot for office space and $6.43 per square foot for storage space, overriding the existing provisions in section 41-792.01, subsection D of the Arizona Revised Statutes.

Additionally, the bill would include a provision stating that it becomes effective on the general effective date, ensuring that these changes are implemented promptly. The current law remains unchanged except for these specific insertions, which aim to facilitate the management of state buildings in alignment with the fiscal budget for the upcoming year.