The proposed bill, if enacted, would introduce several new funds and amend existing statutes related to transportation in Arizona. Specifically, it would establish the Statewide Transportation Innovation Fund, the Statewide Infrastructure Trust Fund, and the Advanced Air Mobility Fund, all of which would be administered by the State Treasurer. These funds would be subject to legislative appropriation and exempt from lapsing provisions, with the State Treasurer responsible for investing the funds and crediting any earnings back to them. The funds would be utilized for various transportation-related projects, including grants for innovation programs, construction of transportation infrastructure, and the purchase of advanced air mobility vehicles.

Additionally, the bill would amend current statutes by removing the Department of Child Safety from the list of agencies excluded from participation in the State Motor Vehicle Fleet and would require the State Treasurer to report on grant applications and hold public meetings for legislative recommendations. The bill also specifies the requirements for grant applicants and the information that must be included in grant applications, ensuring a structured approach to funding transportation innovations and projects. Overall, the bill aims to enhance transportation funding mechanisms and streamline the administration of related programs.

Statutes affected:
Introduced Version: 28-472, 28-7011, 28-8604, 35-146, 35-147, 28-475, 28-476, 35-190, 35-313
Senate Engrossed Version: 28-472, 28-7011, 28-8604, 35-146, 35-147, 28-475, 28-476, 35-190, 35-313
Chaptered Version: 28-472, 28-7011, 28-8604, 35-146, 35-147, 28-475, 28-476, 35-190, 35-313