Shown verbatim: the complete text as captured from the official page posted by the Arizona Legislature, fetched 2026-08-28. Where this bill amends existing law, language marked for deletion in the official page appears here in brackets. This is the chaptered version. The official bill page.
Senate Engrossed credit enhancement eligibility board; continuation State of Arizona Senate Fifty-seventh Legislature Second Regular Session 2026 SENATE BILL 1422 AN ACT repealing section 41-3026.01, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41-3036.01; relating to the credit enhancement eligibility board. (TEXT OF BILL BEGINS ON NEXT PAGE) Be it enacted by the Legislature of the State of Arizona: Section 1. Repeal Section 41-3026.01, Arizona Revised Statutes, is repealed. Sec. 2. Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3036.01, to read: START_STATUTE41-3036.01. Credit enhancement eligibility board; termination July 1, 2036 A. The Credit enhancement eligibility board terminates on July 1, 2036. B. Title 41, chapter 56, articles 10 and 11 and this section are repealed on January 1, 2037 only if both of the following apply: 1. The board has no outstanding program funding obligations issued pursuant to title 41, chapter 56, article 11 or the legislature has otherwise provided for paying or retiring any outstanding program funding obligations issued pursuant to title 41, chapter 56, article 11. 2. There are no outstanding guaranteed financings approved pursuant to title 41, chapter 56, article 11. C. If both of the conditions prescribed by subsection B of this section do not exist on January 1, 2037, title 41, chapter 56, articles 10 and 11 and this section are repealed thirty days after both of the conditions prescribed by subsection B of this section are met. END_STATUTE Sec. 3. Purpose Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the credit enhancement eligibility board to assist public schools in obtaining more favorable financing. Sec. 4. Retroactivity Sections 1 and 2 of this act apply retroactively to from and after July 1, 2026.
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