AZ SB1345

Repeals section 41-3024.16, Arizona Revised Statutes, and adds section 41-3032.16 to establish a conditional termination date for the Arizona power authority.

The Arizona power authority terminates on July 1, 2032, and related statutory provisions are repealed on January 1, 2033, if the authority has no outstanding contractual obligations with the United States, no debts related to Hoover power plant projects or Boulder Canyon project facilities, and has provided for paying or retiring any such debts.

If any contractual debts or obligations listed above exist without satisfactory provision for payment or retirement, the authority and its statutory authority shall continue to exist until the debt or obligation is fully satisfied.

Continues the Arizona power authority to bargain for and receive electrical or other forms of energy for the benefit of the state, pursuant to existing law.

Applies retroactively to July 1, 2024, and was approved by the Governor on April 16, 2024.