HB 2280 Summary

• Prohibits Arizona Board of Regents from entering into lease-back financing agreements for property improvements unless the improvements are used primarily for academic purposes, student housing, or as authorized for research parks, effective July 1, 2018.

• Restricts the board's ability to designate new research parks or expand existing research parks beyond their contiguous borders as they existed on January 1, 2018, without legislative approval.

• Requires the board to individually review and approve all research park leases entered into after July 31, 2018, and prohibits delegation of this authority, with approval contingent on demonstrating a link between the lease and the university's academic mission.

• Applies section 15-1625 amendments retroactively to June 30, 2018, section 15-1636 research park restrictions retroactively to December 31, 2017, and section 15-1636 approval requirements retroactively to July 30, 2018.