HB 2579 Summary

• Directs unrestricted federal monies received between July 1, 2023 and June 30, 2024 to be deposited in the state general fund for essential government services, with retroactive application to June 30, 2023.

• Suspends budget stabilization fund requirements for fiscal years 2023-2024, 2024-2025, and 2025-2026, eliminating the obligation to appropriate or transfer monies to the fund.

• Removes the 10 percent cap on budget stabilization fund reserves for fiscal year 2023-2024 and prohibits transferring any surplus funds from the budget stabilization fund to the general fund.

• Requires the Attorney General to direct $77,250,000 from a Google settlement agreement (State of Arizona v. Google, LLC, No. CV2020-006219) to the state general fund on or before June 30, 2023.