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SB1217 • 2026

water supply development fund; cap

SB1217 - water supply development fund; cap

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Timothy "Tim" Dunn
Last action
2026-06-12
Official status
Senate Rules: None
Effective date
Not listed

Plain English Breakdown

The effective date is listed as empty in the official metadata; therefore, when this law takes effect remains unknown based on provided text.

SB1217: Limits on Water Supply Development Fund Loans and Grants

This bill sets maximum dollar amounts for loans and grants from the water supply development revolving fund to support local water projects.

What This Bill Does

  • Sets a limit of $3,000,000 on any single loan made by the fund.
  • Sets a limit of $2,000,000 on any single grant or technical assistance provided by the fund.
  • Allows the fund to buy or refinance debt for water providers at or below market rates if used for water projects.
  • Permits financial help for water providers with bonding authority to buy insurance for their local bonds related to water development.
  • Requires officials to sell securities from the fund and report findings if money is not enough to pay bond interest.

Who It Names or Affects

  • The Water Infrastructure Finance Authority (WIFA)
  • Eligible entities in Arizona seeking loans or grants for water projects
  • Water providers with bonding authority

Terms To Know

Water Supply Development Revolving Fund
A pool of money managed by WIFA to support water projects through loans, grants, or debt assistance.
Eligible Entities
Groups in Arizona that qualify to receive financial help for building or improving water supplies under section 49-1274.

Limits and Unknowns

  • The bill does not list the specific rules for deciding which entities are eligible.
  • The text does not state when this law will officially take effect after passing.
  • The source material does not explain how much total money is currently in the fund.

Bill History

  1. 2026-06-12 Senate

    Senate Rules: None

  2. 2026-06-12 Senate

    Senate first read

Official Summary Text

SB1217 - water supply development fund; cap

Current Bill Text

Read the full stored bill text 
SB1217 - 572R - I Ver

REFERENCE TITLE:
water supply development fund;
cap

State of Arizona

Senate

Fifty-seventh Legislature

Second Regular Session

2026

SB 1217

Introduced by

Senator
Dunn

AN
ACT

Amending section 49-1273, Arizona Revised
Statutes; RELATING to the water INFRASTRUCTURE finance AUTHORITY.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 49-1273, Arizona Revised
Statutes, is amended to read:

START_STATUTE
49-1273.

Water supply development revolving fund; purposes

A. Monies in the water supply development revolving
fund may be used for the following purposes:

1. Making loans to eligible entities in this state
under section 49-1274 for water supply development projects within this
state.� A single loan shall not exceed $3,000,000.

2. Making grants or providing technical assistance
to eligible entities for water supply development projects in this
state.
A single grant shall not exceed $2,000,000.

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 purposes.

5. Paying the costs to administer the fund.

6. Conducting water supply studies.

B. If the monies pledged to secure water supply
development bonds issued pursuant to section 49-1278 become insufficient
to pay the principal and interest on the water supply development bonds
guaranteed by the water supply development revolving fund, the authority shall
direct the state treasurer to liquidate securities in the fund as may be necessary
and shall apply those proceeds to make current all payments then due on the
bonds. The state treasurer shall immediately notify the attorney
general and auditor general of the insufficiency. The auditor
general shall audit the circumstances surrounding the depletion of the fund and
report the findings to the attorney general. The attorney general
shall conduct an investigation and report those findings to the governor and
the legislature.
END_STATUTE