If this bill were to become law, it would update current statutes by inserting new language that establishes rental rates for state-owned buildings for the fiscal year 2026-2027. Specifically, it would maintain the existing rates of $17.87 per square foot for office space and $6.43 per square foot for storage space, as currently stated in the law. The bill clarifies that these rates are set notwithstanding section 41-792.01, subsection D of the Arizona Revised Statutes.

Additionally, the bill would include a new introductory phrase, "AN ACT establishing rental rates for state-owned buildings; relating to the management of state properties," which would serve to formally introduce the changes being made. Overall, the bill aims to ensure that the rental rates for state properties are clearly defined and continue as previously established for the specified fiscal year.