HB 2653 Summary

• Amends Section 48-4232 of the Arizona Revised Statutes regarding county stadium districts' annual budget procedures.

• Requires the board of directors to hold a public hearing before adopting and submitting the annual budget to the county clerk by June 30 each year.

• Specifies required budget components including past fiscal year receipts and expenditures, estimated maintenance and operating costs, promotional expenses, anticipated revenue, asset and liability statements, profit/loss statements, cash balances, and itemized commitments and reserves.

• Allows the board to amend the budget upon a finding of good cause, with the amendment requirement now explicitly stating the board must hold a public hearing before making amendments.