AZ HB2383

Appropriates $8,000,000 from the state general fund in fiscal year 2025-2026 to the Arizona Commerce Authority for distribution to applied research centers.

Distributes funds by technology focus: $3,000,000 for medical technology, $2,000,000 for clean energy and water sustainability, $2,000,000 for semiconductor technology, and $1,000,000 for other beneficial technologies.

Distributes funds in increments of up to $250,000 within 30 days after applied research centers notify the authority of matching funds from non-state sources.

Requires recipient centers to collaborate with universities, nonprofit associations, and technology businesses; may partner with community colleges and universities for workforce training.

Requires annual expenditure and performance reports submitted to the Joint Legislative Budget Committee and Governor's Office of Strategic Planning and Budgeting; unexpended funds revert to the general fund on June 30, 2027.