AZ HB2850

Extends the expiration date for the board of directors' authority to issue revenue bonds for theme park purposes from December 31, 2020 to December 31, 2030.

Maintains the $1,000,000,000 cap on outstanding principal amount of bonds, excluding refunding bonds.

Preserves the requirement that the board obtain irrevocable financial participation commitments from private nongovernmental entities equal to 20 percent of the bond issue principal amount before issuing bonds.

Delays the repeal of Title 48, Chapter 36, Arizona Revised Statutes (the theme park district law) from December 31, 2020 to December 31, 2030, conditioned on the board failing to issue bonds by that later date.