ARIZONA STATE SENATE

RESEARCH STAFF

RACHEL ANDREWS

LEGISLATIVE RESEARCH ANALYST

NATURAL RESOURCES, ENERGY & WATER COMMITTEE

Telephone: (602) 926-3171

TO:                  MEMBERS OF THE SENATE

NATURAL RESOURCES, ENERGY

 & WATER COMMITTEE

DATE:            March 19, 2024

SUBJECT:      Strike everything amendment to H.B. 2014, relating to water infrastructure

Purpose

Allows the Water Infrastructure Finance Authority (WIFA) to conduct discussions and negotiations and enter into an agreement, including an offtake agreement, with an eligible entity that is reasonably necessary to facilitate a water supply development project that imports water from outside the boundaries of Arizona.

Background

The Long-Term Water Augmentation Fund (LTWAF) consists of monies from various sources including legislative appropriation, monies received from the issuance and sale of long-term augmentation bonds, loan repayments, among others. Monies in the LTWAF may be used for securing long term water augmentation bonds of WIFA (A.R.S. § 49-1302).

There is no anticipated fiscal impact to the state General Fund associated with this legislation.

Provisions

1. Allows WIFA to conduct discussions and negotiations and enter into an agreement, including an offtake agreement, with an eligible entity that is reasonably necessary to facilitate a water supply development project that imports water from outside the boundaries of Arizona.

2. Exempts all outlined communication and information from public record, and subjects the communications and information to disclosure only on the consent of WIFA.

3. Defines bonds as any bonds, obligations, notes, certificates or other indebtedness of WIFA that are approved by the WIFA Board.

4. Makes technical and conforming changes.

5. Becomes effective on the general effective date.