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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
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HB2754: commerce authority; board of directors
Sponsor: Representative Rivero, LD 27
Committee on International Trade
Overview
Expands the Arizona Commerce Authority's (ACA) Board of Directors (Board) to include the Chairpersons of the Senate Finance Committee and of the House of Representatives International Trade Committee. Subjects the ACA trade offices to legislation appropriation and adds a reporting requirement for the ACA. Continues the Arizona Competes Program (Program) indefinitely.
History
The ACA's mission is to provide private sector leadership in growing and diversifying the economy of this state, creating high quality employment in this state through expansion, attraction and retention of businesses and marketing this state for the purpose of expansion, attraction and retention of businesses.
The ACA is currently governed by a Board consisting of 29 members, including: 1) the Governor, who serves as chairperson; 2) the Chief Executive Officer (Officer); 3) 17 private sector business leaders, 4) the President of the Senate; and 5) the Speaker of the House of Representatives (A.R.S. § 41-1502).
Laws 2011, 2nd S.S., Chapter 1, established the Arizona Competes Fund (Fund), consisting of withholding tax revenues allocated to the Fund from the job creation withholdings clearing account, any other amounts dedicated to the Fund by law, gifts, grants and other donations received for that purpose and any available monies received from the United States government, including monies from the American Recovery and Reinvestment Act of 2009.
The Officer must administer the Fund. On notice from the Officer, the State Treasurer must invest and divest any Fund monies in the state treasury and monies earned from investment must be credited to the Fund. Monies in the fund are exempt lapsing. The Officer must use Fund monies exclusively for the purposes of this article. (A.R.S. § 41-1545.01).
The Officer may negotiate the award of Fund monies, to be paid by grant for: 1) attracting, expanding or retaining Arizona basic enterprises, that achieve the performance and qualification targets developed and that enter into an agreement with the Officer; and 2) supporting and advancing programs and projects for microenterprises, rural businesses, small businesses and business development that enhance economic development (A.R.S. § 41-1545.02).
The Program terminates on July 1, 2026 (A.R.S. § 41-1542.05).
Provisions
1. Adds, as ex officio members without the power to vote, to the Board:
a. the Chairperson of the Senate Finance Committee, or its successor committee, or the Chairperson's designee; and
b. the Chairperson of the House of Representatives International Trade Committee, or its successor committee, or the Chairperson's designee. (Sec. 1)
2. Changes the responsibility of establishing and supervising trade offices, from the Board to legislative appropriation for that specific purpose. (Sec. 2)
3. Requires the ACA, by December 1 annually, to submit a report to the Joint Legislative Budget Committee on the activities of each trade office operated by the ACA the prior fiscal year. (Sec. 2)
4. Subjects, to legislative appropriations, the Officer's requirement of using Fund monies exclusively for the prescribed purposes. (Sec. 3)
5. Continues the Program indefinitely by repealing the Program's termination of July 1, 2026. (Sec. 4)
6. Makes the provision relating to the Program retroactive to July 1, 2026. (Sec. 5)
7. Makes technical and conforming changes. (Sec. 1, 2)
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11. Initials LM HB 2754
12. 1/29/2026 Page 0 International Trade
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