summary
Introduced
01/29/2025
01/29/2025
In Committee
03/31/2025
03/31/2025
Crossed Over
03/12/2025
03/12/2025
Passed
05/07/2025
05/07/2025
Dead
Signed/Enacted/Adopted
05/13/2025
05/13/2025
Introduced Session
Potential new amendment
Fifty-seventh Legislature - First Regular Session (2025)
Bill Summary
An Act amending title 30, Arizona Revised Statutes, by adding chapter 7; amending title 40, Arizona Revised Statutes, by adding chapter 3; amending section 47-9109, Arizona Revised Statutes; relating to public utilities.
AI Summary
This bill establishes a comprehensive framework for utility securitization in Arizona, allowing public power entities and public service corporations to create special purpose entities that can issue transition bonds to recover certain costs associated with utility assets and significant events. The bill defines detailed provisions for how these securitization transactions can be structured, including creating a unique type of "transition property" that can be used to secure bonds. Key provisions include establishing a non-bypassable financing charge that customers must pay, creating a "true-up mechanism" to adjust charges over time, and ensuring that these bonds are not considered public debt or a liability of the utility. The bill provides a detailed process for how public power entities or public service corporations can apply for approval to issue such bonds, including requirements for demonstrating cost savings to customers and obtaining a financing order from either a public power entity's governing body or the Arizona Corporation Commission. The securitization process is designed to help utilities recover costs related to retiring assets, managing significant events like natural disasters, and providing a potentially lower-cost financing mechanism for infrastructure transitions. The bill also amends existing statutes to accommodate these new securitization provisions, including modifying the Uniform Commercial Code to recognize the unique nature of transition property.
Committee Categories
Agriculture and Natural Resources
Sponsors (53)
Gail Griffin (R)*,
Hildy Angius (R),
Leo Biasiucci (R),
Walt Blackman (R),
Seth Blattman (D),
Selina Bliss (R),
Shawnna Bolick (R),
Flavio Bravo (D),
Michael Carbone (R),
Frank Carroll (R),
Neal Carter (R),
Pamela Carter (R),
Joseph Chaplik (R),
Janeen Connolly (D),
Lupe Diaz (R),
Tim Dunn (R),
Brian Fernandez (D),
Lisa Fink (R),
John Gillette (R),
David Gowan (R),
Matt Gress (R),
Ralph Heap (R),
Laurin Hendrix (R),
Alma Hernandez (D),
Consuelo Hernandez (D),
Lydia Hernandez (D),
John Kavanagh (R),
Rachel Keshel (R),
Alexander Kolodin (R),
Nick Kupper (R),
Vince Leach (R),
David Livingston (R),
Chris Lopez (R),
David Marshall Sr. (R),
Teresa Martinez (R),
Catherine Miranda (D),
Steve Montenegro (R),
Quang Nguyen (R),
Kevin Payne (R),
Michele Peña (R),
Beverly Pingerelli (R),
Khyl Powell (R),
Tony Rivero (R),
Janae Shamp (R),
T.J. Shope (R),
James Taylor (R),
Myron Tsosie (D),
Kevin Volk (D),
Michael Way (R),
Jeff Weninger (R),
Carine Werner (R),
Julie Willoughby (R),
Justin Wilmeth (R),
Last Action
Chapter 207 (on 05/13/2025)
Official Document
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