|
REFERENCE TITLE: senior facilities; bond approval |
|
State of Arizona House of Representatives Fifty-first Legislature Second Regular Session 2014
|
|
HB 2286 |
|
|
|
Introduced by Representatives Lesko: Alston, Gray, Senator Yarbrough
|
AN ACT
amending title 35, chapter 5, article 5, Arizona Revised Statutes, by adding section 35‑762; relating to industrial development financing.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 35, chapter 5, article 5, Arizona Revised Statutes, is amended by adding section 35-762, to read:
35-762. Reviewing entities; approval of developments; coordination; definitions
A. Any reviewing entity exercising its statutory duties in connection with a project may agree with any other reviewing entity to share information, coordinate review schedules or jointly conduct reviews.
B. A reviewing entity, in its discretion, may cooperate in the review of a project financing by adopting in whole or in part substantially similar review work performed on the project financing by another reviewing entity that is also charged with review of the project financing if the review work completed by the other entity meets the standards of the reviewing entity.
C. A reviewing entity that adopts in whole or in part review work performed on the project financing by another reviewing entity is deemed for all purposes to have complied with its review responsibilities as if the review work had been performed by the reviewing entity itself.
D. For the purposes of this section:
1. "Project" means a nursing home, rest home, skilled nursing facility or life care facility owned and operated by a nonprofit organization that is exempt from taxation under section 501(c)(3) of the United States internal revenue code that is seeking debt financing pursuant to this chapter, approval pursuant to section 35-726, a permit pursuant to title 20, chapter 8 or bond financing pursuant to title 36, chapter 4.2.
2. "Reviewing entity" means an industrial development authority formed pursuant to this chapter, a governing body approving the formation of an industrial development authority, the Arizona department of housing, the Arizona health facilities authority or the department of insurance.