The proposed bill, if enacted, would introduce several significant updates to current statutes regarding the auditing of funds allocated for homelessness programs in Arizona. Specifically, it mandates the Auditor General to conduct a special audit of expenditures related to homelessness, which includes state, municipal, and federal spending, as well as expenditures by law enforcement agencies addressing homelessness. The bill requires all state and local government entities to cooperate with the audit by providing access to financial records at no cost. Additionally, the audit will assess the awarding of contracts and grants, the metrics used to evaluate expenditure success, the efficiency of data management systems, and the costs associated with services provided to individuals experiencing homelessness.

Furthermore, the bill appropriates $1,250,000 from the Housing Trust Fund to the Auditor General for the audit's execution and exempts this appropriation from lapsing provisions. It also establishes a deadline for the Auditor General to submit the audit report by December 31, 2027, and includes a provision for the repeal of the audit requirements after June 30, 2028. These changes aim to enhance transparency and accountability in the use of funds designated for homelessness services in Arizona.