AZ SB1223

Amends Section 41-1510 of Arizona Revised Statutes to establish the water infrastructure and commerce grant fund administered by the Arizona Commerce Authority.

Eligible entities include public service corporations providing water service and employers with more than 250 employees located in counties with populations between 400,000 and 1 million persons.

Authority may retain up to one percent of annual fund monies for administration and must establish simplified application procedures and award criteria prioritizing new jobs creation and community collaboration.

Projects must begin after January 1, 2023 and grants must be allocated and distributed by December 31, 2025.

Authority must prepare written economic impact assessments for each grant award and submit annual reports to the joint legislative budget committee detailing expenditures and remaining fund allocations.