AZ HB2637

Appropriates $2,000,000 from the state general fund in fiscal year 2021-2022 to the Arizona Commerce Authority for matching stipends for students and teachers participating in STEM internships.

Allocates funds as follows: 55% for high school and undergraduate students (with preference for rural and Title 1 schools), 20% for graduate students, 20% for K-12 teachers, and 5% for administration and outreach.

Requires participating businesses to sponsor interns and, if awarded a stipend by the authority, agree to sponsor an additional intern at the business's own expense (exemption for businesses with fewer than 100 employees).

Sets maximum stipend amounts of $4,000 for high school and undergraduate students, $6,000 for teachers, and $7,000 for graduate students, with an additional $500 available if the internship results in industry certification.

Requires the Arizona Commerce Authority to submit a report by December 1, 2022 detailing stipends awarded, total awards by category, and number of internships leading to certification or employment; section repeals December 31, 2022.