AZ HB2893

Reduces the tax relief qualification period for computer data centers from 10 years to 5 years for standard facilities, and from 20 years to 10 years for sustainable redevelopment projects under section 41-1519.

Establishes an on-farm irrigation efficiency program administered by the University of Arizona Cooperative Extension that provides grants up to $1,000,000 per applicant (or $1,500 per acre) to replace flood irrigation systems with more efficient methods that conserve at least 20 percent of water use.

Creates the on-farm irrigation efficiency fund and water conservation grant fund to receive revenues from transaction privilege tax on computer data centers and qualified colocation tenants for 10 years after their tax relief qualification period expires, with 50 percent allocated to each fund.

Requires the University of Arizona Cooperative Extension to provide annual reports to the legislature detailing water savings, field locations, water sources, crop types, soil conditions, and other data from funded irrigation efficiency projects.

Makes the bill applicable only to qualification periods beginning after the effective date of the act.