ARIZONA HOUSE OF REPRESENTATIVES

Fifty-sixth Legislature

Second Regular Session

House: NREW DP 5-4-0-0

HB 2057: appropriation; long-term water augmentation fund

Sponsor: Representative Dunn, LD 25

Caucus & COW

Overview

Appropriates $143,800,000 from the state General Fund (GF) in Fiscal Year (FY) 2024 to the Long-Term Water Augmentation Fund (Fund).

History

The Fund was established by Laws 2022, Chapter 366 and is administered by the Water Infrastructure Finance Authority (WIFA). The Fund consists of:

1) monies received from the issuance and sale of long-term water augmentation bonds;

2) monies appropriated by the Legislature to the Fund;

3) monies received for any allowable purpose of the fund from the United States government;

4) monies received as loan repayments, interest, administrative fees and penalties;

5) monies from any lawful activities of WIFA, including public-private partnership agreements relating to water supply development projects;

6) interest and other income received from investing monies in the Fund; and

7) gifts, grants and donations received for purposes of the Fund from any public or private source.

Monies and assets in the Fund can be used for:

1) funding water supply development projects that import water from outside the boundaries of Arizona;

2) purchasing imported water or rights to imported water;

3) acquiring or constructing water-related facilities to convey or deliver imported water within Arizona;

4) conducting investigations, including performing environmental or other reviews;

5) contracting for water needs assessments;

6) providing financial assistance to eligible entities for the purposes of financing or refinancing water supply development projects;

7) guaranteeing debt obligations of eligible entities that are issued or incurred to finance or refinance water supply development projects or providing credit enhancements in connection with these debt obligations;

8) paying the costs to administer the Fund; and

9) funding ten full-time equivalent WIFA positions (A.R.S. § 49-1303).

Provisions

1. Appropriates $143,800,000 from the state GF in FY 2024 to the Long-Term Water Augmentation Fund. (Sec. 1)

2. Exempts the appropriation from lapsing. (Sec. 1)

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6. HB 2057

7. EB Page 0 Caucus & COW

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