If enacted, this bill would update current statutes by eliminating the annual allocation of $1,750,000 from the State Lottery Fund to the Arizona Competes Fund, as specified in the current law. The existing language that mandates this allocation would be removed, allowing the remaining balance in the State Lottery Fund to be directed solely to the university capital improvement lease-to-own and bond fund, as outlined in the current statute.

Additionally, the bill would repeal section 5-572 of the Arizona Revised Statutes, which was amended by previous legislation in 2024. This repeal would remove any provisions or requirements established in that section, further streamlining the statutory framework related to commerce and the allocation of lottery funds. Overall, the bill aims to make significant changes to the funding structure while ensuring that the remaining funds are utilized for educational purposes.