AZ SB1592

Authorizes the Governor to enter into an interstate health care compact with other states to return regulatory authority over health care from the federal government to member states.

Allows member states to suspend federal health care laws, rules, and regulations that conflict with state-adopted laws and policies under the compact.

Establishes a mandatory federal funding formula where each member state receives federal monies equal to its "member state current year funding level" (based on 2010 federal health care spending adjusted for population and inflation) as non-conditional mandatory spending.

Creates an Interstate Advisory Health Care Commission with representatives from member states to study health care regulation issues and make non-binding recommendations to state legislatures.

Becomes effective upon adoption by at least two states and Congressional consent; allows member states to withdraw with six months' notice and permits amendment by unanimous agreement of member states.