This bill proposes several updates to current statutes regarding aviation in Arizona. It introduces new definitions and requirements related to aviation maintenance facilities, including the definition of "always hangared aircraft" and the process for verifying capital investments in such facilities. Specifically, it mandates that individuals making capital investments must file a sworn certification with the Arizona commerce authority, detailing the investment and the facility involved. Additionally, the bill establishes a threshold of $150,000,000 in total capital investments that, once verified, will trigger a notification to the department of revenue.

The bill also repeals certain existing provisions, including a section of the Arizona Revised Statutes that was amended by previous laws, and it clarifies the registration requirements for aircraft entering the state for intrastate commercial operations. Furthermore, it sets a timeline for the repeal of the new section 41-1530, contingent upon the verification of the capital investment threshold or by December 31, 2031, whichever comes first. Overall, these changes aim to streamline regulations and enhance the framework for aviation maintenance in Arizona.

Statutes affected:
Introduced Version: 28-8322, 41-1530, 42-5061, 42-5159, 28-8322.01