SB 1091
Initials AF Page 1 Appropriations
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-fifth Legislature
Second Regular Session
Senate: APPROP DPA 9-0-1-0 | 3
rd
Read 25-2-3-0
SB1091: appropriation; debt; repayment; defeasance
Sponsor: Senator Livingston, LD 22
Committee on Appropriations
Overview
Appropriates a total of $367,000,000 from the state General Fund (GF) in FY 2022 to pay for the
retirement or defeasance of specified financing agreements.
History
Laws 2007, Chapter 257 authorized the Arizona Department of Administration (ADOA) to enter
into a lease-purchase agreement of $39,000,000 for prison water and wastewater projects and
improvements at the Arizona State Hospital (ASH).
Laws 2007, Chapter 361 authorized ADOA to enter a 20-year lease-purchase agreement of up to
$200,000,000 for the Arizona Department of Corrections to 4,000 state-owned prison beds.
Laws 2003, Chapter 267 appropriated monies from FY 2008 through FY 2031 to the three
universities under the jurisdiction of the Arizona Board of Regents (ABOR) for lease-purchase
capital financing of research infrastructure projects.
Provisions
1. Appropriates $93,500,000 from the GF in FY 2022 to ADOA for the retirement or defeasance
of the FY 2008 financing agreements for ASH and ADC. (Sec. 2)
2. Requires the Director of ADOA to notify the Director of the Joint Legislative Budget Committee
(JLBC) within 10 days after each retirement or defeasance is completed. (Sec. 2)
3. Appropriates $273,500,000 from the GF in FY 2022 to ABOR for each state university to pay
for the retirement of the lease-purchase capital financing agreements. (Sec. 3)
4. Requires the Executive Director of ABOR to notify the Director of JLBC within 10 days after
each retirement of defeasance is completed. (Sec. 3)
5. Exempts the appropriations from lapsing, except that any monies remaining after the
retirements or defeasances are completed revert to the GF. (Sec. 2, 3)
6. Makes conforming changes. (Sec. 1)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☒ Fiscal Note