The proposed bill, if enacted, would amend the Arizona Revised Statutes by expanding the Arizona Commerce Authority's Board of Directors to include additional members. Specifically, it would add the Chairpersons and the ranking minority members of the Senate Finance Committee and the House of Representatives International Trade Committee as ex officio members without voting power. This change aims to enhance legislative representation within the Board, thereby potentially improving oversight and collaboration between the legislative and executive branches regarding economic development.

In terms of specific updates to the current statutes, the bill would insert new language to include these additional members while also modifying existing references to the roles of the Senate President and House Speaker to allow for their designees. Furthermore, it would delete the previous designations for certain members of the Board, streamlining the composition of the Board to reflect these changes. Overall, the bill seeks to modernize the governance structure of the Arizona Commerce Authority by ensuring broader legislative involvement.

Statutes affected:
Introduced Version: 41-1502
House Engrossed Version: 41-1502