The proposed bill would update current statutes in Arizona by extending the Arizona Competes Fund for two additional years until July 1, 2028, and modifying the distribution timeline for the fund, delaying the restoration of a $3,500,000 annual distribution to July 1, 2029. It would also remove the continuous appropriation status of the Financial Surveillance Fund, making its funds subject to legislative appropriation, and expand the scope of insurers from which fees are collected to include foreign and alien insurers.

Additionally, the bill would assign the administration of the Advanced Air Mobility Fund to the Arizona Commerce Authority, eliminating the requirement for an expenditure plan review before fund expenditures. It would enhance the responsibilities of the Office of Defense Innovation, allowing it to enter contracts with qualified entities and support defense-related initiatives. Other changes include increasing the percentage of prior fiscal year deposits from the Residential Contractors' Recovery Fund, adjusting population thresholds for financial assistance from the Greater Arizona Development Authority, and allowing the Office of Tourism to accept donations. Overall, these updates aim to streamline fund management and bolster economic development initiatives in Arizona.

Statutes affected:
Introduced Version: 5-572, 20-156, 28-8604, 32-1134, 41-1545.05, 41-1561, 41-2257, 41-2306, 44-2039, 5-555, 17-297, 8-481, 15-1643, 36-697, 36-274, 41-563, 35-190, 41-1545.01, 2028-2029, 15-1682.03, 20-1082, 20-1095, 20-1096, 20-159, 35-142, 35-313, 32-1135, 28-8601, 9-530, 35-146, 35-147, 42-5029, 43-206, 5-835, 2010-2011, 2011-2012, 42-6108.01, 5-601.02
House Engrossed Version (06/11/2026): 5-572, 20-156, 28-8604, 32-1134, 41-1545.05, 41-1561, 41-2257, 41-2306, 44-2039, 5-555, 17-297, 8-481, 15-1643, 36-697, 36-274, 41-563, 35-190, 41-1545.01, 2028-2029, 15-1682.03, 20-1082, 20-1095, 20-1096, 20-159, 35-142, 35-313, 32-1135, 28-8601, 9-530, 35-146, 35-147, 42-5029, 43-206, 5-835, 2010-2011, 2011-2012, 42-6108.01, 5-601.02
Chaptered Version: 5-572, 20-156, 28-8604, 32-1134, 41-1545.05, 41-1561, 41-2257, 41-2306, 44-2039, 5-555, 17-297, 8-481, 15-1643, 36-697, 36-274, 41-563, 35-190, 41-1545.01, 2028-2029, 15-1682.03, 20-1082, 20-1095, 20-1096, 20-159, 35-142, 35-313, 32-1135, 28-8601, 9-530, 35-146, 35-147, 42-5029, 43-206, 5-835, 2010-2011, 2011-2012, 42-6108.01, 5-601.02