If enacted, this bill would amend current statutes related to the Arizona Commerce Authority (ACA) by clarifying its authority to establish and supervise trade offices in other states and foreign countries. Specifically, it would replace the phrase "At the direction of the board" with "Subject to legislative appropriation for that specific purpose," ensuring that the ACA's operations are contingent upon legislative funding. This change emphasizes the need for appropriations before the ACA can expand its operations.

Additionally, the bill introduces a new requirement for the ACA to submit an annual report to the Joint Legislative Budget Committee (JLBC) by December 1 each year. This report would detail the activities of each trade office operated by the ACA during the previous fiscal year, thereby enhancing transparency and accountability regarding the ACA's trade initiatives.

Statutes affected:
Introduced Version: 41-1504