SB 1447 Summary

• Amends Arizona's military installation fund statute to allow the Department of Emergency and Military Affairs to lease or sublease acquired real estate and infrastructure at fair rental value, with such leases exempt from competitive bidding requirements under section 41-2752.

• Permits the department to retain and use revenues from property sales, disposals, and leases (in addition to monies remaining after awarding grants) for military installation preservation and enhancement purposes statewide.

• Adds a new exception to the state competition with private enterprise prohibition, specifically exempting leases and subleases of real estate or related infrastructure by the Department of Emergency and Military Affairs under the military installation fund program.

• Maintains existing requirements that any property conveyances, leases, or subleases must comply with noise and accident potential zone regulations under section 28-8481.