SB1560

Official summary

SB1560 - 572R - Senate Fact Sheet Assigned to NR����������������������������������������������������������������������������������������������������������������� AS PASSED BY COW ARIZONA STATE SENATE Fifty-Seventh Legislature, Second Regular Session AMENDED FACT SHEET FOR s.b. 1560 cap; water supply development fund Purpose Increases the cap from $3,000,000 to $20,000,000 for a single loan for loans that are made from monies in the Water Supply Development Revolving Fund (Fund) to eligible entities for water supply development projects within Arizona. Background The Water Infrastructure Finance Authority (WIFA) is a state agency authorized to provide funding and financial assistance for water conservation, reuse and augmentation projects for the purposes of meeting Arizona's current and long-term water needs (A.R.S. �� 49-1203.01 and 49-1205 ). WIFA is responsible for administering the Fund which consists of: 1) monies received from the issuance and sale of water supply development bonds; 2) monies appropriated to the Fund; 3) monies received for water supply development purposes from the U.S. government; 4) monies received as loan repayments, interest and penalties; 5) interest and other income received from investing monies in the Fund; 6) gifts, grants and donations received for water supply development purposes from any public or private source; and 7) any other monies received by the Water Infrastructure Finance Authority in connection with the purpose of the Fund ( A.R.S. � 49-1271 ). Monies in the Fund may be used for: 1) making loans of up to $3,000,000 to eligible entities in Arizona for water supply development projects within Arizona; 2) making grants of up to $2,000,000 or providing technical assistance to eligible entities for water supply development projects in Arizona; 3) purchasing or refinancing debt obligations of water providers at or below market rate if the debt obligation was issued for a water supply development purpose; 4) providing financial assistance to water providers with bonding authority to purchase insurance for local bond obligations incurred by them for water supply development projects; 5) paying the costs to administer the Fund; and 6) conducting water supply studies ( A.R.S. � 49-1273 ). There is no anticipated fiscal impact to the state General Fund associated with this legislation. Provisions 1. Increases the cap from $3,000,000 to $20,000,000 for a single loan for loans that are made from monies in the Fund to eligible entities for water supply development projects within Arizona. 2. Becomes effective on the general effective date. Amendments Adopted by Committee of the Whole � Caps a single loan from monies in the Fund to eligible entities for water supply development projects within Arizona at $20,000,000. Senate Action NR ������ 2/10/26 ���� DP ����� 8-0-0 Prepared by Senate Research February 26, 2026 SB/hk