cap; water supply development fund
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
Senate Bill 1560 modifies the Arizona Water Supply Development Fund, which provides financial assistance for water supply projects within the state. The bill increases the maximum loan amount that can be provided to eligible entities from $3 million to $20 million, and increases the maximum grant amount from $2 million to $20 million. It also allows the fund to purchase or refinance debt obligations related to water supply development and to provide financial assistance for insurance related to local bond obligations.
Key provisions
- Increases the maximum loan amount from $3 million to $20 million.
- Increases the maximum grant amount from $2 million to $20 million.
- Allows the fund to purchase or refinance debt obligations for water supply development.
- Authorizes financial assistance for insurance related to local bond obligations.
- Permits the fund to conduct water supply studies.
- Provides for fund administration costs.
Who is affected
- Eligible entities in Arizona
- Water providers in Arizona
- The Water Infrastructure Finance Authority
Notable changes
- Increases loan and grant amounts significantly.
- Expands the types of financial assistance the fund can provide.
Fiscal impact
The bill may impact the state's budget due to increased loan and grant disbursements, as well as administrative costs.
Bill text
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Sponsors
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1 on record
Primary sponsor
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