AZ SB1426

Continues the Arizona Commerce Authority beyond its sunset date by extending operations until July 1, 2018, with full repeal of Chapter 10 on January 1, 2019.

Establishes a new Office of Regulatory Ombudsman within the Arizona Commerce Authority to assist businesses with regulatory compliance, provide information on permits and licenses, and advocate for pro-business policies at state and local levels.

Adds compensation and benefit approval requirements for all Authority officers and employees, requiring board review and two-thirds approval on or before May 31 each year.

Redirects lottery fund allocations by eliminating the $3.5 million annual deposit to the Arizona Competes Fund and deposits those funds instead to the university capital improvement lease-to-own and bond fund.

Modifies job creation withholdings clearing account from $26.5 million to $10 million annually, with $1 million allocated monthly to the Arizona Commerce Authority Fund and remaining amounts distributed to the Arizona Competes Fund.