This bill proposes several updates to the Arizona Revised Statutes, specifically by adding new sections related to the establishment of a community college apprenticeship and workforce development program fund. The fund will be administered by the Office and will consist of revenues collected from a new surcharge imposed on businesses, corporations, and small business taxpayers that employ fifty or more employees. The surcharge will be set at one percent of the payroll taxes paid during the taxable year, starting from taxable years after December 31, 2026. The bill also outlines the process for community colleges to apply for funding from this program and mandates the Office to adopt necessary rules and forms for administration.

Additionally, the bill includes provisions for the separate accounting of the revenues collected from the surcharge, ensuring that these funds are deposited into the newly established community college apprenticeship and workforce development program fund. The bill emphasizes that these changes will only take effect upon receiving a two-thirds affirmative vote from both houses of the legislature and will be effective immediately upon the governor's signature or a subsequent three-fourths vote if vetoed.

Statutes affected:
Introduced Version: 41-5304, 43-1015, 43-1112, 43-1712, 15-1401, 42-1116, 43-206, 35-146, 35-147