AZ SB1532

Extends appropriations for university research infrastructure lease-purchase financing through fiscal year 2030-2031, with specified annual amounts for Arizona State University, University of Arizona, and Northern Arizona University.

Establishes capital infrastructure funds for each of the three universities, with initial appropriations of $11.9 million (ASU), $10.6 million (U of A), and $4.5 million (NAU) in fiscal year 2018-2019, adjusted annually by 2% or GDP price deflator growth, whichever is less.

Requires universities to deposit 20-25% of income from licensure agreements, royalty payments, and intellectual property sales into the state general fund, with net income calculations for agreements entered after April 30, 2017.

Restricts capital infrastructure fund usage to capital projects and debt service payments, prohibiting use for projects reviewed before April 15, 2017, professional sports facilities, or operating expenditures.

Imposes a $1 billion debt financing limit for projects paid with capital infrastructure funds and requires joint committee on capital review approval for all capital projects using these funds.