The proposed bill seeks to amend section 41-1502 of the Arizona Revised Statutes, specifically updating the composition of the Arizona Commerce Authority. Under the new law, the language will be revised to allow for designees of the president of the senate and the speaker of the house of representatives, replacing the current requirement for their direct involvement. Additionally, new positions will be added, including the chairpersons of the senate finance committee and the House of representatives international trade committee, along with their designees.

Furthermore, the bill will remove several existing positions from the current statute, including the president of each state university, a community college president, and various chairpersons of councils related to small business and workforce development. The overall structure will be streamlined by eliminating these roles while introducing new ones, thereby modernizing the governance of the Arizona Commerce Authority to better reflect current needs and practices.

Statutes affected:
Introduced Version: 41-1502