ARIZONA HOUSE OF REPRESENTATIVES

Fifty-sixth Legislature

Second Regular Session

 

HB 2900: commerce; 2024-2025

Sponsor: Representative Livingston (with permission of committee on Rules), LD 28

Committee on Appropriations

Overview

Contains provisions relating to commerce needed to implement the FY 2025 budget.

History

The Arizona Legislature adopts a budget for each fiscal year (FY) that contains general appropriations. Article IV, Section 20, Part 2 of the Constitution of Arizona requires the General Appropriations Act (feed bill) to contain only appropriations for the different state departments, state institutions, public schools and interest on public debt. Statutory changes necessary to reconcile the appropriations made in the feed bill and other changes are drafted into separate budget bills. These bills are prepared according to subject area.

Provisions

1.   ☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteExtends, as session law, the Microbusiness Loan Program until June 30, 2025. (Sec. 5)

2.   Repeals the Microbusiness Loan Program on June 30, 2025 and transfers all unexpended and unencumbered monies in the Microbusiness Loan Fund to the state General Fund (GF). (Sec. 5)

3.   Increases the amount of unencumbered monies retained by the Department of Insurance and Financial Institutions (DIFI) Revolving Fund before being deposited in the DIFI Receivership Revolving Fund from $200,000 to $700,000. (Sec. 1)

4.   Beginning FY 2026, establishes the Fraud Unit Assessment Fund and directs monies collected from the annual assessment levied on licensed insurers be deposited into the Fraud Unit Assessment Fund, rather than the state GF. (Sec. 2, 3, 6)

5.   Specifies DIFI administers the Fraud Unit Assessment Fund for administering and operating DIFI's Fund Unit. (Sec. 3)

6.   Requires monies appropriated to DIFI from the Fraud Unit Assessment Fund be included as a separate line item in the General Appropriations Act. (Sec. 3)

7.   Repeals the Rural Broadband Accelerated Match Fund as enacted by Laws 2023, Chapter 136. (Sec. 4)

 

 

 

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                        HB 2900

Initials PB     Page 0 Appropriations

 

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