The proposed bill would amend current statutes regarding the Arizona Commerce Authority (ACA) by making the establishment and supervision of trade offices contingent upon legislative appropriations, rather than solely at the direction of the ACA Board of Directors. Specifically, it would insert language stating that any legislative appropriation for trade offices must be based on objective research prepared by the ACA. Additionally, the ACA would be required to submit an annual report to the Joint Legislative Budget Committee detailing the activities of each trade office and any objective research identifying potential new trade offices.

Furthermore, the bill would allow the Senate President and the Speaker of the House of Representatives to designate individuals to serve in their place on the ACA Board, thereby enhancing legislative oversight. It also includes technical changes and clarifications to existing language, such as removing references to the "board of directors" and replacing them with "board," streamlining the governance structure. Overall, these updates aim to increase accountability and ensure that trade office operations are aligned with legislative priorities and research-based assessments.

Statutes affected:
Introduced Version: 41-1504
House Engrossed Version: 41-1504
Senate Engrossed Version: 41-1502, 41-1504, 41-5401, 41-1505, 41-1750, 92-544, 38-431.01, 38-431.03