Bill
Number: S.B. 1532
Yarbrough Floor Amendment
Reference to: printed bill
Amendment drafted by: Leg Council
FLOOR AMENDMENT EXPLANATION
1. Exempts bond refinancing/refunding from the $1 billion university infrastructure bonding cap.
2. Requires JCCR review of refinancing.
3. Includes technical changes.
First Regular Session S.B. 1532
YARBROUGH FLOOR AMENDMENT
SENATE AMENDMENTS TO S.B. 1532
(Reference to printed bill)
Page 5, line 10, strike "universities" insert "Arizona board of regents"
Lines 18 and 19, strike "capital improvements" insert "project"
Between lines 38 and 39, insert:
"L. The Arizona board of regents, on behalf of each university under its jurisdiction, may refund any debt financing paid with monies pursuant to this section. The refunding debt financing must be secured from the same source of revenues as the debt financing authorized by this section. The refunding debt financing may be issued at or before maturity of the debt financing being refunded. Refunding debt financing issued as provided by this subsection:
1. Must be submitted by the board for review by the joint committee on capital review. The committee must hear and review a refunding debt financing submitted pursuant to this subsection not later than the committee's second meeting after the refunding debt financing is submitted to the committee.
2. is not subject to the one billion dollar limitation prescribed by subsection F of this section."
Reletter to conform
Amend title to conform