HB2209 - 561R

Be it enacted by the Legislature of the State of Arizona:

Section 1. Repeal

Section 41-3023.15, Arizona Revised Statutes, is repealed.

Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3031.15, to read:

START_STATUTE41-3031.15. Office of economic opportunity; termination July 1, 2031

A. The office of economic opportunity terminates on July 1, 2031.

B. Title 41, chapter 53 and this section are repealed on January 1, 2032, if the office:

1. Has no outstanding contractual obligations with the United States or any United States agency.

2. Has no debts, obligations or guarantees that were issued.

3. Has otherwise provided for paying or retiring such debts or obligations.

C. If any debt or obligation listed in subsection B of this section exists and no satisfactory provision has been made to pay or retire the debt or obligation, the office and statutes continue in existence until the debt or obligation is fully satisfied. END_STATUTE

Sec. 3. Section 41-5303, Arizona Revised Statutes, is amended to read:

START_STATUTE41-5303. Powers and duties

A. The director shall:

1. Monitor this state's tax and regulatory competitiveness by benchmarking this state against competitor states and municipalities, including implementing a systematic data collection and analysis process to evaluate tax and regulatory costs to businesses imposed by this state and municipalities of this state in relation to other states and municipalities.

2. Serve as this state's workforce planning coordinator, provide staffing support to the workforce Arizona council, provide stewardship of the state workforce data evaluation system, provide economic and demographic research and analysis, including constitutionally required population estimates, provide employment and unemployment estimates and develop labor market information for the development of the state workforce strategy.

3. Provide office and meeting space, administrative support and analytic analytical support to the Arizona finance authority and coordinate with the Arizona finance authority director to incorporate finance market intelligence in economic development strategy and policy recommendations.

4. Develop data-informed policy and regulatory reform recommendations and provide assistance with state tax and regulatory matters, including the development and analysis of proposed rules and regulations and the projected cost on employers relating to those rules and regulations.

5. Provide analytical support to the Arizona commerce authority in its business recruitment, growth and retention strategies.

6. Provide analytical support to the Arizona commerce authority, the Arizona-Mexico commission in the governor's office and the office of tourism in their state marketing strategies.

B. The director may:

1. Contract and incur obligations that are reasonably necessary or desirable within the general scope of the office's activities and operations to enable the office to adequately perform its duties.

2. Use monies, facilities or services to provide matching contributions under federal or other programs that further the objectives and programs of the office.

3. Accept gifts, grants, matching monies or direct payments from public or private agencies or private persons and enterprises for the conduct of programs that are consistent with the general purposes and objectives of this chapter.

4. Provide staffing support to an industrial development authority established pursuant to title 35, chapter 5.END_STATUTE

Sec. 4. Section 41-5351, Arizona Revised Statutes, is amended to read:

START_STATUTE41-5351. Definitions

In this article, unless the context otherwise requires:

1. "Agreement" means any loan or other agreement, contract, note, mortgage, deed of trust, trust indenture, lease, sublease or instrument entered into by the authority.

2. "Arizona industrial development authority" means the industrial development authority established by the Arizona finance authority.

2. 3. "Authority" means the Arizona finance authority.

3. 4. "Board" means the board of directors of the authority.

4. 5. "Bonds" means any bonds issued by the authority or the arizona industrial development authority.

5. 6. "Costs":

(a) Means all costs incurred in the issuance of bonds, including insurance policy, credit enhancement, legal, accounting, consulting, printing, advertising and travel expenses, plus any authority administrative fees.

(b) May include interest on bonds issued by the authority for a reasonable time before and during the time the proceeds are used.

6. 7. "Director" means the director of the authority.

7. 8. "Federal agency" means the United States or any agency or agencies of the United States. END_STATUTE

Sec. 5. Section 41-5353, Arizona Revised Statutes, is amended to read:

START_STATUTE41-5353. Board; members; terms; meetings; compensation; prohibition

A. The authority shall be governed by a board of directors, consisting of five members to be appointed by the governor, giving due consideration to a diverse geographical representation on the board, and to serve at the pleasure of the governor.

B. Excluding reappointment, before appointment by the governor, a prospective member of the board of directors shall submit a full set of fingerprints to the governor for the purpose of obtaining a state and federal criminal records check pursuant to section 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.

C. Each member shall serve for a term of three years. Vacancies occurring other than by expiration of term shall be filled in the same manner for the remainder of the unexpired term. if a term expires and a member has not been reappointed or replaced by a newly APPOINTED member, the member may continue to serve until reappointment or until a replacement is appointed.

D. The board shall annually elect from among its members a chairperson, a secretary and a treasurer.

E. The board rules shall provide for regular annual meetings of the board. The chairperson may call a special meeting at any time. The board rules shall provide for a method of giving notice of a special meeting.

F. The board may meet by audioconference or videoconference. The requirements of title 38, chapter 3, article 3.1 apply to an audioconference or videoconference, except that all votes of members must be by roll call, and the board may not meet in executive session by audioconference or videoconference.

G. Members of the board are not eligible to receive compensation but are eligible to receive reimbursement for necessary expenses pursuant to title 38, chapter 4, article 2 while engaged in the performance of the members' duties.

H. Members of the board may not have any direct or indirect personal financial interest in any project financed by the arizona finance authority or the arizona industrial development authority or otherwise under this article. END_STATUTE

Sec. 6. Section 41-5354, Arizona Revised Statutes, is amended to read:

START_STATUTE41-5354. Powers of board

The board may:

1. Adopt an official seal and alter the seal at its pleasure.

2. Apply for, accept and administer grants of monies or materials or property of any kind from a federal agency or others on such terms and conditions as may be imposed.

3. Make and enter into agreements, including intergovernmental agreements pursuant to title 11, chapter 7, article 3, execute all instruments, perform all acts and do all things necessary or convenient to carry out the powers granted.

4. Employ or contract with experts, engineers, architects, attorneys, accountants, construction and financial experts and such other persons as may be necessary in the board's judgment and fix their compensation.

5. Pay compensation and employee-related expenses.

6. Fix the compensation of the director.

7. Sue and be sued.

8. Acquire and maintain office space, equipment, supplies, services and insurance necessary to administer this article.

9. Contract with, act as guarantor for or coinsure with any federal, state or local governmental agency and other organizations or corporations in connection with its activities under this article and receive monies relating to those contracts and services.

10. Adopt bylaws and administrative rules consistent with this article.

11. Protect and enforce the interests of the authority in any project financed through the authority's resources.

12. Enter into and inspect any facility financed through the authority's resources to investigate its physical condition, construction, rehabilitation, operation, management and maintenance and to examine all of the records relating to its capitalization, income and other related matters.

13. Acquire title to real property or other assets by gift, grant or operation of law, or by purchase.

14. Establish advisory boards that have all rights and powers granted by the board, including the right to review, evaluate and recommend to the board for approval proposed financings and programs. END_STATUTE

Sec. 7. Section 41-5356, Arizona Revised Statutes, is amended to read:

START_STATUTE41-5356. Duties of board; annual report

A. The board shall:

1. Establish an the Arizona industrial development authority under title 35, chapter 5 and, notwithstanding the requirements of section 35-705, serve as the board of the Arizona industrial development authority.

2. Serve as the board of the greater Arizona development authority and have all powers and authority to take action on behalf of the greater Arizona development authority pursuant to chapter 18 of this title.

3. Approve the Arizona finance authority's budget.

B. On or before October 1 of each year, the arizona industrial development authority shall submit a report to the president of the senate, the speaker of the house of representatives and the directors of the joint legislative budget committee and the governor's office of strategic planning and budgeting regarding the arizona industrial development authority's revenues, expenditures and program activity for the previous fiscal year. END_STATUTE

Sec. 8. Purpose

Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the office of economic opportunity to consolidate and improve analytic capacity with the goal of tracking key economic indicators in this state.

Sec. 9. Retroactivity

Sections 1 and 2 of this act are effective retroactively to from and after July 1, 2023.