AZ HB2725

Appropriates $411,000,000 from the state general fund in fiscal year 2023-2024 to the department of administration to retire or defease financing agreements under section 41-791.04.

Appropriates $194,500,000 from the state general fund in fiscal year 2023-2024 to the Arizona board of regents to retire or defease lease-purchase capital financing agreements for state universities.

Amends section 9-602 to eliminate future annual distributions from the Arizona convention center development fund after fiscal year 2023-2024 by removing funding allocations for fiscal years 2024-2025 through 2043-2044.

Amends section 15-1670 to end appropriations for university research infrastructure lease-purchase financing in fiscal year 2023-2024 instead of continuing through fiscal year 2030-2031.

Requires the department of administration and Arizona board of regents to notify the joint legislative budget committee within ten days of each debt retirement or defeasance, including the date and final cost.