Arizona Revised Statutes Title 41. State Government § 41-1510. Water infrastructure and commerce grant fund

A. The water infrastructure and commerce grant fund is established consisting of legislative appropriations, federal monies and private donations. The chief executive officer shall administer the fund. Monies in the fund are continuously appropriated and are exempt from the provisions of § 35-190 relating to lapsing of appropriations. Monies in the fund may be used to provide grants to eligible entities for contracting for the design and construction of water infrastructure at the eligible entity's location. The authority may retain up to one percent of the monies in the fund annually to administer the fund.

B. The following entities are eligible to apply for and receive grant monies pursuant to this section:

C. The authority shall:

D. Before awarding a grant pursuant to this section, the authority shall prepare a written statement that is signed by the chief executive officer, that assesses the direct economic impact of the grant, including the number of new jobs that will be created, and that contains a finding that the award of grant monies is in the best interest of this state.

E. On or before December 15 of each year, the authority shall submit an annual report to the joint legislative budget committee. The report shall include, at a minimum, the amount of actual expenditures from the fund by project and an expenditure plan for all remaining monies by project.