Official Summary Text
HB2751 - 572R - Senate Fact Sheet
Assigned to
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ARIZONA STATE SENATE
Fifty-Seventh
Legislature, Second Regular Session
FACT SHEET FOR
H.B. 2751
Arizona competes
fund; repeal
Purpose
Extends the
Arizona Competes Fund and grant program for four years, until July 1, 2030, and
specifies that the Arizona Competes Fund is subject to legislative
appropriation.
Background
Laws 2011, Second
Special Session, Chapter 1
established the Arizona Competes Fund, which is
administered by the Chief Executive Officer of the Arizona Commerce Authority
(CEO). The CEO may award grants from the Arizona Competes Fund to: 1) attract,
expand or retain Arizona basic enterprises that achieve performance and
qualification targets and enter into an agreement with the CEO; and 2) advance
and support projects for microenterprises, rural businesses, small businesses
and business development that enhance economic development.
The Arizona
Competes Fund consists of tax revenues allocated from the job creation
withholdings clearing account, gifts, grants and donations, available federal
monies and other amounts dedicated by law. The CEO must use Arizona Competes
Fund monies exclusively for the purposes prescribed by statute. The Arizona
Competes Fund and grant program terminate on July 1, 2026 (
A.R.S. Title 41, Chapter 10,
Article 5
).
There is no anticipated fiscal impact to the state General Fund
associated with this legislation.
Provisions
1.
Extends the Arizona Competes Fund and grant program for four years,
until July 1, 2030, retroactive to July 1, 2026.
2.
Specifies that the Arizona Competes Fund is subject to legislative
appropriation.
3.
Becomes effective on the general effective date, with a retroactive
provision as noted.
House Action
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Prepared by Senate Research
March 10, 2026
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Current Bill Text
Read the full stored bill text
HB2751 - 572R - H Ver
House Engrossed
Arizona competes
fund; repeal
State of Arizona
House of Representatives
Fifty-seventh Legislature
Second Regular Session
2026
HOUSE BILL 2751
AN
ACT
Amending section 41-1545.01, Arizona
Revised STATUTES; amending section 41-1545.05, Arizona Revised Statutes;
relating to the Arizona commerce authority.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it
enacted by the Legislature of the State of Arizona:
Section 1. Section 41-1545.01, Arizona Revised
Statutes, is amended to read:
START_STATUTE
41-1545.01.
Arizona competes fund
A. The Arizona competes fund is established
consisting of:
1. Withholding tax revenues allocated to the fund
from the job creation withholdings clearing account pursuant to section 43-409,
subsection B, paragraph 2.
2. Any other amounts dedicated to the fund by law.
3. Gifts, grants and other donations received for
that purpose.
4. Any available monies received from the United
States government, including monies from the American recovery and reinvestment
act of 2009 (P.L. 111-5).
B. Monies credited to the fund may be deposited in
the state treasury or in a bank or other depository pursuant to section 41-1504,
subsection D, paragraph 5.
C. The chief executive officer shall administer the
fund. On notice from the chief executive officer, the state treasurer shall
invest and divest any monies in the fund deposited in the state treasury as
provided by section 35-313, and monies earned from investment shall be
credited to the fund. Monies in the fund are exempt from the provisions of
section 35-190 relating to lapsing of appropriations.
D.
subject to legislative
appropriation,
the chief executive officer shall use monies in the fund
exclusively for the purposes of this article.
END_STATUTE
Sec. 2. Section 41-1545.05, Arizona Revised
Statutes, is amended to read:
START_STATUTE
41-1545.05.
Program termination
The program established by this article ends on July 1,
2026
2030
.
END_STATUTE
Sec. 3.
Retroactivity
Section 41-1545.05, Arizona Revised
Statutes, as
amended by this act, applies
retroactively to from and after June 30, 2026.