AZ HB4077

Authorizes the Arizona State Schools for the Deaf and the Blind (ASDB) board to acquire property, secure third-party financing, borrow money, and enter into lease-purchase agreements for capital improvements, subject to Joint Committee on Capital Review approval.

Establishes a capital improvement and school facilities fund for property sale proceeds, gifts, grants, and other lawful sources to fund lease-purchase payments, new construction, maintenance, repairs, and renovations.

Caps total lease-purchase agreements at $16,000,000, with a maximum of $8,000,000 in fiscal year 2026-2027 and $8,000,000 in fiscal year 2027-2028.

Prohibits the board from obligating state general fund monies or any additional state funds beyond the authorized amounts when entering lease-purchase agreements.

Financing terms cannot exceed 40 years or the useful life of the capital improvement, whichever is shorter.