The bill HB2020 appropriates $45,000,000 from the state General Fund for fiscal year 2023 to the Arizona State Retirement System (ASRS) to prepay the state's required pension contributions. This prepayment is intended to result in future savings by reducing the state's employer contributions in subsequent years, as outlined in a prepayment agreement between ASRS and the state.

Additionally, the bill exempts this appropriation from lapsing, ensuring that the funds remain available for their intended purpose without being subject to the usual expiration of appropriated funds. The bill will take effect upon the signature of the Governor.