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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
House: APPROP DP 15-1-2-0 |
HB 4157: commerce; 2026-2027
Sponsor: Representative Livingston, LD 28
Caucus & COW
Overview
Contains provisions relating to commerce needed to implement the FY 2027 budget.
History
The Arizona Legislature adopts a budget for each fiscal year (FY) that contains general appropriations. Article IV, Section 20, Part 2 of the Constitution of Arizona requires the General Appropriations Act (feed bill) to contain only appropriations for the different state departments, state institutions, public schools and interest on public debt. Statutory changes necessary to reconcile the appropriations made in the feed bill and other changes are drafted into separate budget bills. These bills are prepared according to subject area.
Provisions
Arizona Competes Fund (Fund)
1. Extends, through FY 2029, the $1,750,000 annual distribution from the State Lottery Fund to the Arizona Competes Fund. (Sec. 1)
2. Sets, beginning FY 2030, the annual distribution from the State Lottery Fund to the Arizona Competes Fund to $3,500,000. (Sec. 1)
3. Authorizes, retroactive to June 30, 2026, the Arizona Commerce Authority to expend Fund monies for grant programs until July 1, 2028. (Sec. 6, 11)
Financial Surveillance Fund (Fund)
4. Specifies monies in the Fund are subject to legislative appropriation, rather than continuously appropriated and exempt from lapsing. (Sec. 3)
5. Requires the Department of Insurance and Financial Institutions to annually assess foreign and alien insurers, in addition to domestic insurers, that hold an active certificate of authority. (Sec. 3)
6. Clarifies that assessments pay the costs of administering the insurance operation functions of the department, rather than employing financial analysts who assist in conducting financial surveillance of insurers. (Sec. 3)
Advanced Air Mobility Fund (Fund)
7. Transfers the administration of the Fund from the State Treasurer to the Arizona Commerce Authority. (Sec. 4)
8. Removes the requirement to submit an expenditure plan to the Joint Committee on Capital Review. (Sec. 4)
9. Adds that the purpose of the Fund is to allow for the Office of Defense Innovation to enter into contracts with any entity that advances the state's defense, aerospace, dual technology and national security innovation system. (Sec. 4)
Residential Contractors' Recovery Fund (Fund)
10. Increases the cap, from 14% to 20%, of monies deposited in the Fund that the Registrar of Contractors may use to employ individuals and procure equipment necessary to monitor, process or oppose claims filed by claimants. (Sec. 5)
Office of Defense Innovation (Office)
11. Requires the Office to:
a. enter into contracts with a qualified public or private entity to advance this state's defense, aerospace, dual use technology and national security innovation ecosystem; and
b. engage and coordinate with specified entities to implement the duties of the Office. (Sec. 7)
12. Modifies the powers and duties of the Office. (Sec. 7)
13. Prevents the Office from exercising regulatory authority over any public or private entity. (Sec. 7)
14. Instructs the Office, by September 1, 2029, to submit to the Governor and Legislature a comprehensive report that includes:
a. a summary of activities;
b. an assessment of economic and national security impacts; and
c. recommendations for the continuation or termination of the Office. (Sec. 7)
Greater Arizona Development Authority
15. Increases a city or town population threshold requiring approval of financial assistance to be conditioned on approval of its voters, from more than 50,000 persons to more than 150,000 persons. (Sec. 8)
16. Increases a county population threshold requiring approval of financial assistance to be conditioned on approval of its voters, from more than 200,000 persons to more than 500,000 persons. (Sec. 8)
Tourism Fund (Fund)
17. Allows the Fund to receive, and the Office of Tourism to accept and spend, monies in the form of a gift, grant or donation. (Sec. 9)
Securities Regulatory and Enforcement Fund (Fund)
18. Authorizes the Arizona Corporation Commission to use Fund monies for education and regulatory, investigative and enforcement operations in railroad safety. (Sec. 10)
Miscellaneous
19. Defines pertinent terms. (Sec. 7)
20. Makes technical changes. (Sec. 2, 5, 9, 10)
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24. Initials PB HB 4157
25. 6/9/2026 Page 0 Caucus & COW
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