This bill proposes updates to current statutes regarding rental rates for state-owned buildings. Specifically, it introduces new rental rates for the fiscal year 2026-2027, establishing a rate of $17.87 per square foot for office space and $6.43 per square foot for storage space. This new language will be inserted into the existing statutes, thereby providing clear guidelines for the management of state properties.

The bill also includes a provision that overrides a specific section of the Arizona Revised Statutes, indicating that the new rental rates will take precedence over previous regulations. The current law remains unchanged except for the insertion of these new rental rates and the clarification regarding the capital outlay stabilization fund.