The proposed bill would update current statutes by continuing the Credit Enhancement Eligibility Board for an additional ten years, extending its termination date from July 1, 2026, to July 1, 2036. This change is marked by the insertion of new language that specifies the conditions under which the Board would be repealed on January 1, 2037, if it has no outstanding program funding obligations or guaranteed financings approved. The bill also includes a retroactive provision that applies these changes from July 1, 2026.

Additionally, the bill would repeal section 41-3026.01 of the Arizona Revised Statutes, which currently governs the Board's termination. The new language clarifies the circumstances under which the Board would be dissolved, ensuring that it remains operational until all financial obligations are settled. The bill emphasizes the Board's role in assisting public schools with financing, thereby reinforcing its purpose within the educational funding framework.

Statutes affected:
Introduced Version: 41-3026.01, 41-3036.01