HB 2274 Summary

• Changes the annual report submission deadline for the Arizona Power Authority Commission from December 1 to January 1 each year, to be submitted to the governor, legislative leaders, and relevant committee chairs.

• Modifies the administrative budget deadline from July 1 to September 30 each fiscal year and removes the $75,000 annual spending cap on administrative expenses.

• Establishes that the authority's budget and audit fiscal years shall follow the federal fiscal year (October 1 through September 30) instead of the previous state fiscal year.

• Updates audit timeline requirements from 30 days to 60 days after the close of respective fiscal years for districts, state agencies, and municipalities to file certified audit copies with the auditor general.

• Makes various technical corrections to statutory language regarding budget procedures, accounting systems, and audit processes for the Arizona Power Authority.