AZ HB2104

Establishes the Bank of Arizona as a state-owned, state-controlled, and state-operated banking system that must comply with banking regulations in Title 6, Chapter 2 of Arizona Revised Statutes.

Creates a seven-member advisory board of directors consisting of one state senator, one state representative, three persons appointed by the state treasurer, and two public members appointed by the governor, with four-year terms for appointed members.

Requires the advisory board to establish a Bank of Arizona Commission to manage and operate the bank, and directs the board to make recommendations regarding bank operations, management performance, and officer appointments.

Mandates that all state monies be deposited in the Bank of Arizona, guarantees all deposits by the state and exempts them from taxation, and authorizes the bank to make loans to persons in Arizona and perform clearinghouse functions.

Terminates the program on July 1, 2022 pursuant to Arizona's automatic termination statute (section 41-3102).