REFERENCE TITLE: credit enhancement eligibility board; continuation

State of Arizona

Senate

Fifty-seventh Legislature

Second Regular Session

2026

SB 1422

Introduced by

Senator Angius

AN ACT

repealing section 41-3026.01, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41-3036.01; relating to the credit enhancement eligibility board.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Repeal

Section 41-3026.01, Arizona Revised Statutes, is repealed.

Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3036.01, to read:

START_STATUTE41-3036.01. Credit enhancement eligibility board; termination July 1, 2036

A. The Credit enhancement eligibility board terminates on July 1, 2036.

B. Title 41, chapter 56, articles 10 and 11 and this section are repealed on January 1, 2037 only if both of the following apply:

1. The board has no outstanding program funding obligations issued pursuant to title 41, chapter 56, article 11 or the legislature has otherwise provided for paying or retiring any outstanding program funding obligations issued pursuant to title 41, chapter 56, article 11.

2. There are no outstanding guaranteed financings approved pursuant to title 41, chapter 56, article 11.

C. If both of the conditions prescribed by subsection B of this section do not exist on January 1, 2037, title 41, chapter 56, articles 10 and 11 and this section are repealed thirty days after both of the conditions prescribed by subsection B of this section are met. END_STATUTE

Sec. 3. Purpose

Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the credit enhancement eligibility board to assist public schools in obtaining more favorable financing.

Sec. 4. Retroactivity

Sections 1 and 2 of this act apply retroactively to from and after July 1, 2026.