water supply development fund; cap
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies the Arizona Water Supply Development Fund by setting limits on the amount of money that can be loaned or granted for water supply development projects. Specifically, loans cannot exceed $3 million and grants cannot exceed $2 million. The fund can also be used to purchase or refinance debt obligations related to water supply development and to administer the fund and conduct studies.
Key provisions
- Loans to eligible entities for water supply development projects cannot exceed $3,000,000.
- Grants for water supply development projects cannot exceed $2,000,000.
- The fund can purchase or refinance debt obligations for water supply development.
- The fund can provide financial assistance for insurance related to local bond obligations for water supply development.
- The fund can be used to administer itself and conduct water supply studies.
Who is affected
- Eligible entities in Arizona
- Water providers in Arizona
- The Water Infrastructure Finance Authority
Notable changes
- Establishes loan and grant limits for the Water Supply Development Fund.
Fiscal impact
The bill may impact the state’s budget by limiting the amount of funds available for water supply development projects.
Bill text
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Sponsors
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1 on record
Primary sponsor
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