HB 2640 Summary

• Amends section 41-1514.02 of Arizona Revised Statutes to add biomass and forestry industry products to the environmental technology assistance program administered by the Arizona Commerce Authority.

• Expands the definition of eligible environmental technology manufacturing to include processing of biomass and forestry industry products alongside existing categories of solar/renewable energy products and recycled materials.

• Maintains existing requirements for qualified manufacturers including a minimum $20 million capital investment over five years, compliance with environmental regulations, and execution of memoranda of understanding with employment goals.

• Preserves certification restrictions prohibiting new qualified environmental technology manufacturers after June 30, 1996, while allowing existing certifications to be assigned or transferred to successor operators.