SCR 1023 Summary

• Proposes amending Arizona Constitution Article IX, Section 7 to create an exception allowing the Arizona Board of Regents and its institutions to obtain ownerships and securities in exchange for licensing or transferring technology or intellectual property they create or acquire.

• Requires that all proceeds from the sale or licensing of these ownerships and securities must accrue to the public through the Arizona Board of Regents and its institutions.

• Maintains existing constitutional prohibitions against the state giving or loaning its credit to individuals, associations, or corporations, except as specified in this amendment and other existing exceptions.

• Directs the Secretary of State to submit this constitutional amendment to voters at the next general election for approval.