HB 2646 Summary

• Appropriates $2,000,000 from the state general fund in fiscal year 2018-2019 to the Arizona Commerce Authority for matching monies to fund educational stipends for STEM internship participants.

• Allocates 45% of funds for stipends to high school and undergraduate students, 45% for graduate students and K-12 teachers, and 10% for administration and outreach costs.

• Requires a business sponsor for each participant and mandates that businesses employing 100 or more employees sponsor an additional participant at their own expense if their sponsored participant receives a stipend.

• Limits stipend amounts to $5,000 for high school or undergraduate students and $8,000 for graduate students or K-12 teachers.

• Exempts the appropriation from lapsing provisions, allowing unspent funds to carry forward.