HB2020 is a bill that proposes to appropriate $45,000,000 from the state General Fund in FY 2023 to the Arizona State Retirement System (ASRS) for the purpose of prepaying the state's required pension contributions. This prepayment is intended to result in future savings by reducing the amount the state would need to contribute in future years.

The bill specifies that the $45 million appropriation will not lapse and becomes effective upon the signature of the Governor. The bill represents a new legislative action to allocate funds for the prepayment of pension contributions to ASRS.