The proposed bill, if enacted, would introduce several updates to current statutes regarding commerce in Arizona. It would establish the Office of Defense Innovation within the authority, which would serve as a liaison with the U.S. Department of Defense and other related organizations, aiming to enhance Arizona's competitiveness in defense-related industries and support local companies seeking federal contracts. Additionally, the bill mandates the Office to submit annual reports detailing its activities and recommendations to key state officials.

Furthermore, the bill modifies existing reporting deadlines for the Office of Economic Opportunity, extending the submission dates for reports on microfinance lenders and microbusiness credit availability from February 1, 2024, to February 1, 2026, and from July 31, 2024, to July 31, 2026. It also continues the Microbusiness Loan Fund and Program until July 1, 2027, after which any remaining funds would be transferred to the state General Fund. The bill includes a retroactive provision, applying certain changes from June 29, 2025.

Statutes affected:
Introduced Version:
House Engrossed Version:
Chaptered Version: