If this bill were to become law, it would amend the current statute regarding the maximum loan amount available from the Water Supply Development Revolving Fund. Currently, the law states that a single loan to eligible entities for water supply development projects cannot exceed $3,000,000. The proposed change would increase this cap to $20,000,000, thereby allowing for significantly larger loans to support water supply development initiatives within Arizona. The bill specifically targets section 49-1273 of the Arizona Revised Statutes, where the existing language regarding the loan limit is modified. The $3,000,000 cap would be replaced with the new $20,000,000 limit, reflecting a substantial increase in financial support for water infrastructure projects. This change aims to enhance the capacity of eligible entities to undertake larger and potentially more impactful water supply development projects.

Statutes affected:
Introduced Version: 49-1273
Senate Engrossed Version: 49-1273