AZ SB1555

Amends Arizona Revised Statutes to add section 36-2517.02, allowing crystalline polymorph psilocybin approved by the FDA and rescheduled by the DEA to a schedule other than Schedule I to be prescribed in Arizona.

Establishes that psilocybin compositions meeting FDA approval and DEA rescheduling criteria are controlled substances under Arizona law and may be prescribed by physicians.

Enactment is conditional on crystalline polymorph psilocybin being newly approved as a prescription medication under 21 U.S.C. § 355 and rescheduled by the DEA under an interim final rule by January 1, 2031.

Requires the Arizona State Board of Pharmacy to notify the Arizona Legislative Council by February 1, 2031 whether the federal approval and rescheduling condition was met.

Declares legislative intent that patients have rapid access to psilocybin treatment if it receives FDA approval and DEA rescheduling.