SB1453 • 2026

technical correction; power authority; monies

SB1453 - technical correction; power authority; monies

Budget

Passed Legislature

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

Sponsor: David C. Farnsworth
Last action
Official status
Effective date: Not listed

Plain English Breakdown

The bill summary does not provide specific details on how these changes will impact day-to-day operations, leaving this as an open question.

Technical Fix for Power Authority Money Rules

This bill makes a small change to how money is handled by the Arizona Power Authority.

What This Bill Does

Changes part of the law about how the Arizona Power Authority manages its funds.
Specifies that any funds given by legislative appropriation are classified as 'appropriated funds'.
Classifies all other funds derived from operations or otherwise acquired as 'operation funds'.
Ensures that no withdrawals from the debt reserve fund can be made except for specific purposes.

Who It Names or Affects

The Arizona Power Authority, which manages electricity-related projects in Arizona.

Terms To Know

appropriated funds: Money given by the government for specific uses.
operation funds: Money earned or received through regular business activities.

Limits and Unknowns

The bill only makes a small change to existing rules and does not create new programs or policies.
It is unclear how this technical correction will affect the authority's day-to-day operations.

Bill History

No action history is stored for this bill yet.

Official Summary Text

SB1453 - technical correction; power authority; monies

Current Bill Text

Read the full stored bill text

SB1453 - 572R - I Ver

REFERENCE TITLE:
technical correction; power authority; monies

State of Arizona

Senate

Fifty-seventh Legislature

Second Regular Session

2026

SB 1453

Introduced by

Senator
Farnsworth

AN
ACT

amending section 30-202, Arizona
Revised Statutes; relating to the arizona power authority.

(TEXT OF BILL BEGINS ON NEXT PAGE)

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

Section 1. Section 30-202, Arizona Revised
Statutes, is amended to read:

START_STATUTE
30-202
.
Appropriated and operation funds defined; debt reserve fund;
application of general fiscal laws

A. Any funds made available to the authority by
legislative appropriation shall be classified "appropriated
funds." All other funds derived from operations or otherwise
acquired or accruing to the authority shall be classified "operation
funds." Appropriate classifications and designations shall be
set up in the authority accounting records as set forth by section 30-103
to provide for accurate and systematic control and allotment of all monies
received, including a debt reserve fund embracing all monies required for the
payment of principal and interest on revenue bonds, and any and all other
obligations for which a reserve is required.� No withdrawals from the debt
reserve fund shall be made except for the express purposes for which the monies
have been deposited therein.

B. The provisions of
chapter 1,

title 35
, chapter 1
not in conflict with this article
shall
, as far as applicable,
shall
apply
to the handling and disbursement of appropriated funds of the
authority. The fiscal year of the authority shall not be divided
into fiscal quarters, and appropriated monies shall be placed in separate funds
as budgeted and not in the general fund. Warrant limitations,
lapsing of appropriations, quarterly allotments and continuing or recurring
appropriation provisions shall also be inapplicable.

C. Nothing in
chapter 1,
title
35
, chapter 1
shall be construed to require the reversion
to the general fund or otherwise of any monies, balances or biennium
appropriations made for the authority.
END_STATUTE