AZ SB1493

Amends Arizona Revised Statutes sections 41-4504 and 41-4507 to require legislative approval before the Arizona International Development Authority issues revenue bonds for acquiring or operating projects.

Modifies the authority's powers to issue revenue bonds by adding a requirement that such bond issuance be subject to approval by the legislature, affecting both new project acquisition and refunding of outstanding bonds or indebtedness.

Updates section 41-4507 to establish that the board may issue negotiable bonds only when subject to legislative approval, applying this requirement to bonds issued for acquiring projects that facilitate international trade or commerce.

Maintains existing bond issuance procedures regarding terms, interest rates, maturity dates (not exceeding 40 years), and other bond provisions while adding the legislative approval prerequisite.

Clarifies that bonds issued under this chapter remain obligations of the authority only and do not constitute legal debt of the state, with repayment solely from authority revenues.