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 rental rates are set at $17.87 per square foot for office space and $6.43 per square foot for storage space, overriding any existing provisions in section 41-792.01, subsection D of the Arizona Revised Statutes.

The bill also includes a provision that it will become effective on the general effective date, ensuring that these changes are implemented promptly. Overall, the updates aim to align the management of state buildings with the fiscal requirements outlined in the FY 2026 state budget.