This bill proposes to update current statutes by appropriating a total of $3,000,000 from the state General Fund for fiscal year 2027 to the Arizona Health Innovation Trust Fund. Specifically, it includes two separate appropriations of $1,500,000 each: one for general support of the Trust Fund and another specifically for a pilot program aimed at health innovations for individuals living with chronic conditions. The latter appropriation is exempt from lapsing provisions, ensuring that the funds remain available for their intended purpose.

Additionally, the bill establishes a legislative intent for the Trust Fund to grow to a permanent endowment balance of at least $200,000,000. It also defines "chronic condition" to include long-lasting health issues that require ongoing medical attention, such as autoimmune diseases, cardiovascular diseases, cancers, diabetes, and neurodegenerative diseases. These updates aim to enhance the support for health innovation initiatives in Arizona, particularly for those affected by chronic health conditions.