As of March 24th, we are on day 74 of Session. This week marks the final week of committee hearings for bills, with the exception of the Appropriations Committee, which will have one additional week of hearings before the focus shifts to the final passing bills out of each respective Chamber as well as drafting and passing a fiscally sound budget. While talks of a budget have been minimal, Session will continue until this aspect of work is complete. The Chamber is currently tracking nearly 300 bills and has taken formal positions on 105 bills, supporting 65 and opposing 40 bills.
A few of the Chamber’s key bills and policy priorities have made great progress. The Prop 400 extension bill continues to move through the Legislature, with the Senate version having passed out of the Senate with a 2/3 majority and out of the House Transportation Committee. Hopefully a vote on the House floor will occur soon.
Another priority and strongly supported business measure, SB 1643 (Tax credits; Research; Development) passed out of the Senate and is moving on to the House. The bill and the creation of the Arizona Reinvestment Fund will accelerate projects that strengthen the state’s economy and workforce opportunities within the community. SB 1643 allows advanced manufacturers to reinvest their R&D tax credit dollars into partnerships with the higher education community, additional R&D activities, and demonstrated commitments to sustainability and water infrastructure projects in the state. This legislation was developed in coordination with the business community and industry stakeholders across Arizona and focuses on scaling advanced manufacturing workforce solutions, enhancing critical infrastructure, expanding workforce development opportunities, and further the goal of a U.S. based supply chain.