Bill > HB2136

This bill amends Arizona law regarding industrial development bonds, specifically focusing on the process for issuing bonds for various types of projects. The bill makes several key changes, including updating language around bond issuance for single-family dwelling units and multifamily residential projects. For single-family dwelling units, corporations must submit a general plan to their governing body detailing specifics like bond amount, maximum term, interest rate, and project purpose. The governing body will review these plans, considering factors such as mortgage money demand and whether the proposed fees are reasonable. The bill also adjusts the population threshold for certain bond approval requirements, lowering it from seven to three percent of the total state population. Additionally, the bill modifies fee structures, maintaining existing maximum fees for review processes ($10,000 for general plan review and $5,000 for project approval) and specifies conditions under which certain types of facilities (like healthcare and senior residential facilities) can be exempt from departmental review. The changes aim to provide more clarity and flexibility in the industrial development bond approval process while maintaining oversight to ensure public benefit and financial responsibility.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/81832