HB2809 is a bill that proposes to amend the Arizona Revised Statutes relating to public infrastructure improvements. The bill seeks to increase the aggregate cap on the amount of state prime contracting transaction privilege tax (TPT) revenues that must be paid to cities, towns, and counties for public infrastructure improvements that benefit a manufacturing facility. The current cap is set at $100,000,000, and the bill aims to raise it to $200,000,000.

The bill also introduces a change in the payment schedule from the state treasurer to the cities, towns, and counties, specifying that payments should be made in monthly increments. Additionally, it clarifies that the total amount paid for public infrastructure improvements should not exceed the lesser of the total state TPT revenues collected from contracts for the benefit of a manufacturing facility or eighty percent of the total cost of the public infrastructure improvements.

Statutes affected:
Introduced Version: 42-5032.02
House Engrossed Version: 42-5032.02
Senate Engrossed Version: 42-5032.02
Chaptered Version: 42-5032.02